PACCAR Inc Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 25, 2022 at 08:06 am EDT
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PACCAR Inc reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 6,687 million compared to USD 4,737.7 million a year ago. Net income was USD 769.4 million compared to USD 380.5 million a year ago. Basic earnings per share from continuing operations was USD 1.4733 compared to USD 0.7267 a year ago. Diluted earnings per share from continuing operations was USD 1.4733 compared to USD 0.7267 a year ago.
For the nine months, sales was USD 19,579.6 million compared to USD 15,538.8 million a year ago. Net income was USD 2,090.3 million compared to USD 1,346.8 million a year ago. Basic earnings per share from continuing operations was USD 4 compared to USD 2.58 a year ago. Diluted earnings per share from continuing operations was USD 3.9933 compared to USD 2.58 a year ago.
Paccar, Inc. specializes in the design, manufacturing and marketing of merchandise transportation vehicles. Net sales break down as follows:
- sale of trucks (74.6%): 185,900 vehicles sold in 2022 (DAF, Kenworth and Peterbilt brands), and distributed by country in the United States and Canada (95,600 units), Europe (62,400) and other (27,900; primarily Mexico and Australia) ;
- sale of accessories, spare parts and industrial winches (20%): Braden, Gearmatic and Carco brands);
- sales financing services (5.2%): standard financing and lease financing;
- other (0.2%).
Net sales are distributed geographically as follows: the United States (53.3%), Europe (26%) and other (20.7%).