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Sep 30, 2020
Paccar Q3 2020 Earnings Report
PACCAR reported strong revenues and net income, driven by rebounding global truck production and aftermarket parts revenue.
Key Takeaways
PACCAR's Q3 2020 results showed a strong rebound with increased truck deliveries and aftermarket sales, leading to a net income of $385.5 million and revenues of $4.94 billion.
PACCAR reported net income of $385.5 million ($1.11 per diluted share).
Third quarter revenues were $4.94 billion.
Global truck deliveries of 36,000 units.
PACCAR Parts revenues of $1.02 billion and pre-tax income of $210.2 million.
Paccar
Paccar
Paccar Revenue by Segment
Revenue by Segment
Truck sales Revenue
CapyFin.comParts Revenue
CapyFin.comFinancial services Revenue
CapyFin.comOther & eliminations Revenue
CapyFin.com Forward Guidance
PACCAR is increasing its estimate of U.S. and Canada Class 8 truck industry retail sales to a range of 190,000-210,000 vehicles in 2020. Class 8 truck industry retail sales for 2021 are estimated to be in a range of 210,000-250,000 vehicles. The 2021 truck market is expected to be in the range of 230,000-270,000 trucks.
Positive Outlook
- U.S. economic growth is being led by manufacturing, housing starts, automotive production and consumer spending.
- Customer demand for fuel-efficient DAF XF, CF and LF trucks continued to strengthen in the third quarter as the European economies improved.
- DAF Brasil introduced a new DAF XF truck this year, which has been well-received by customers.
- PACCAR is an innovation leader in zero emissions battery electric and hydrogen fuel cell trucks.
- Loan and lease origination activity was strong in the third quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income