DAF Trucks

Commentary: Looking inside Paccar’s humble record streak

Paccar Inc. CEO Preston Feight could be forgiven for taking a victory lap celebrating the truckmaker’s 85th consecutive year of net profits.

No forgiveness needed. The company’s leader since 2019 declined to brag. That’s not the Paccar way. Humility, consistency and conservatism rule the day in Bellevue, Washington, where suit and tie is common attire even in a business culture that has come to eschew such formality.

In the company’s earnings release on Tuesday, Feight thanked the 31,100 global...

https://www.freightwaves.com/news/commentary-looking-inside-paccars-humble-record-streak

Paccar Q4 record sales, profit records overwhelm analyst estimates

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Truck maker Paccar Inc. reported record fourth-quarter revenue and net profits, racing past analyst...

https://www.freightwaves.com/news/paccar-q4-record-sales-profit-records-overwhelm-analyst-estimates

Hydrogen rises at CES

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In an event ruled by battery-electric trucks, hydrogen made a splash at the Advanced Clean...

https://www.freightwaves.com/news/hydrogen-rises-at-ces

Paccar reports record Q2 sales and profits

Another quarter, another record performance for Paccar Inc.

The medium- and heavy-duty truck and engine maker reported a 70% increase in second-quarter profits and a 24% increase in sales. It delivered 51,900 trucks across its Kenworth, Peterbilt and DAF Trucks brands.

Here are key numbers from Paccar’s second-quarter results reported Tuesday:

  • Record net sales and revenues of $8.88 billion.
  • Record net income of $1.22 billion.
  • Parts revenues of $1.6 billion and pretax income of $419.3 million.
  • Fina...

https://www.freightwaves.com/news/paccar-reports-record-q2-sales-and-profits

Paccar price hikes propel Q2 profit surge

Paccar charged 15% more for a new truck than a year ago, a driving force behind a surge in second-quarter profits.

But inflation-driven pricing is only part of the story of a record 70% increase in Q2 profitability.

The Bellevue, Washington-based parent of Kenworth, Peterbilt and DAF Trucks charged customers substantially more for new equipment than the roughly 9% increase it paid to build a truck.

“We expect [gross profit] margins of 18-19% in Q3. That’s a testament of how we see the price/cost...

https://www.freightwaves.com/news/truck-and-parts-price-hikes-propel-paccars-q2-profit-surge

May Class 8 truck orders slide seasonally and build slots evaporate

Multicolored row of Freightliner Cascadias

A seasonal slowdown and manufacturers’ caution in booking more Class 8 truck orders than they can produce combined in May to create little change in the new equipment picture.

ACT Research said its preliminary estimate of 14,000 orders actually was a slight uptick considering seasonality. Orders typically decline from April to May.

However, uncertainty about the Russian invasion of Ukraine, interest rates, a potential recession, long backlogs and supply chain-constrained production kept new...

https://www.freightwaves.com/news/may-class-8-truck-orders-slide-seasonally-and-build-slots-evaporate

Truck Tech: Taken for a ride edition

This week, Paccar whittles down its red tag inventory. Two Nikola hydrogen-powered fuel cell trucks take a test ride, but to where? Tesla shows multiple Semis but is mum on production.  Mack Trucks gets predictive with its automated manual transmission. And the best of the rest.

Red tag sale

Paccar Inc., the first automaker to build and park trucks during the semiconductor shortage, made some nice progress in whittling down its so-called “red tag” inventory in Q4. About 7,000 of 10,000 trucks...

https://www.freightwaves.com/news/truck-tech-taken-for-a-ride-edition

Paccar blows away top and bottom lines in Q4 financials

Paccar Inc. set Q4 records for aftermarket parts and financial services while boosting new truck deliveries by 45% over Q3, all contributors to top- and bottom-line beats of analysts’ estimates in financial results.

The Bellevue, Washington-based parent of the Kenworth, Peterbilt and DAF truck brands said it earned $511.4 million, or $1.47 per diluted share, in the October-December 2021 period, 26% higher than the same quarter a year ago. Quarterly revenues of $6.69 billion outpaced the $5.57...

https://www.freightwaves.com/news/paccar-blows-away-top-and-bottom-lines-in-q4-financials

Record parts and lending buoy Paccar’s Q3 results

Paccar Inc. rode record parts sales and higher used truck prices to higher Q3 revenues and a slight decline in profits — its first miss at beating analysts’ estimates for earnings per share in a year.

The Bellevue, Washington-based parent of Kenworth and DAF Trucks and Peterbilt Motors announced Oct. 4 that a shortage of semiconductors reduced Q3 deliveries of Class 8 trucks by 7,000 units. Kenworth and Peterbilt are parking unfinished trucks until missing semiconductors and other parts are...

https://www.freightwaves.com/news/record-parts-and-lending-buoy-paccars-q3-results

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