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Sep 30, 2021
Paccar Q3 2021 Earnings Report
Reported good revenues and net income driven by record profits in PACCAR Parts and Financial Services.
Key Takeaways
PACCAR's third quarter results reflect record profits in PACCAR Parts and PACCAR Financial Services. The company achieved net income of $377.7 million, or $1.08 per diluted share, and revenues of $5.15 billion.
Net sales and revenues of $5.15 billion.
Net income of $377.7 million.
Record PACCAR Parts revenues of $1.26 billion.
Record Financial Services pretax income of $120.1 million.
Revenue by Segment
Forward Guidance
U.S. and Canada Class 8 truck industry retail sales are estimated to be in a range of 230,000-250,000 vehicles in 2021. Class 8 truck industry retail sales for 2022 are estimated to be in a range of 250,000-290,000 vehicles, and assumes improvement in the supply chain.
Positive Outlook
- U.S. economic growth is being led by the manufacturing, housing and consumer spending sectors.
- DAF vehicles deliver excellent reliability, fuel efficiency and driver comfort to our customers.
- The industry-leading technologies in the new Peterbilt and Kenworth trucks will deliver improved productivity to our customers’ operations.
- Customers have ordered more than 10,000 of the new DAF trucks since the launch in June.
- Kenworth and Peterbilt truck resale values command a 10-20% premium over competitors’ trucks.
Challenges Ahead
- The ongoing industry-wide undersupply of semiconductors reduced PACCAR’s truck deliveries by approximately 7,000 vehicles.
- Actual results may differ materially from those included in these statements due to a variety of factors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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