Q1 sales and earnings at the parent of Kenworth, Peterbilt and DAF Trucks posted records despite persistent supply chain issues.
PACCAR’s Columbus, MIssissippi engine plant’s proximity to nearby colleges and universities creates jobs at the $400 million facility where 250,000 engines have been manufactured in 10 years.
PACCAR won’t rush in bringing battery-electric trucks to market, saying it will have them when customers ask. But it contends hydrogen fuel cells are five to 10 years away.
Major truck manufacturers extend production suspensions as the coronavirus pandemic worsens. J.P. Morgan upgrades PACCAR and holds a neutral rating on Navistar.
All four major heavy-duty truck manufacturers now have suspended production for at least two weeks, with market leaders Daimler Trucks North America and PACCAR Inc. the latest to stop building trucks because of the coronavirus pandemic.
Just in time for the holidays, Paccar declared a special dividend of $2.30 a share for stockholders of record by Dec. 20.
Tribunal rules $6 billion class action against manufacturers DAF, Daimler/Mercedes, Iveco, MAN and Volvo/Renault can proceed.
Paccar Inc. delivered 31,000 trucks in the third quarter, helping the parent company of Kenworth Truck Co. , Peterbilt Motor Co. and DAF beat earnings estimates.
PACCAR Inc. added to a string of beating analyst revenue estimates in the second quarter but fell 3 cents short on earnings per share consensus. PACCAR set records across the board in the period ending June 30.
