PACCAR Inc. (NASDAQ: PCAR) reported slowing but solid revenue and profits in the first quarter despite shuttering its truck manufacturing plants in late March because of the coronavirus pandemic.
The parent company of Kenworth Truck Co., Peterbilt Motors and DAF Trucks earned $359.4 million, or $1.03 per diluted share, in the first quarter of this year, down about 43% from the $629.0 million, or $1.81 per diluted share, earned in the same period last year.
Revenue was $5.16 billion, down 20% from $6.49 billion earned in the first quarter of 2019.
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