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Sep 30, 2022
Paccar Q3 2022 Earnings Report
PACCAR achieved record quarterly revenues and profits driven by new truck models and record PACCAR Parts profits.
Key Takeaways
PACCAR reported record net income for the third quarter of 2022, driven by strong demand for new truck models and record PACCAR Parts results. PACCAR Financial Services also delivered excellent results.
PACCAR achieved record net income for the third quarter of 2022.
PACCAR Parts reported record quarterly sales and profits.
PACCAR Financial Services delivered excellent results.
PACCAR increased the regular quarterly cash dividend by 9%.
Revenue by Segment
Forward Guidance
U.S. and Canada Class 8 truck industry retail sales are estimated to be in a range of 265,000-285,000 vehicles in 2022. Class 8 truck industry retail sales for 2023 are estimated to increase to a range of 260,000-300,000 vehicles. European truck industry registrations in the above 16-tonne segment are estimated to be in the range of 275,000-295,000 units this year. The market in 2023 is expected to be in a range of 260,000-300,000 trucks. The South American above 16-tonne truck market is projected to be in a range of 125,000-135,000 units this year, and in a similar range in 2023.
Positive Outlook
- Strong industry truck utilization
- Increased freight tonnage
- Customers are replacing older vehicles with new fuel-efficient trucks
- New DAF XD, XF, XG and XG+ trucks deliver industry-leading fuel efficiency, safety and driver comfort
- PFS is leveraging investments in its 13 worldwide used truck centers to sell an increased number of used trucks at higher retail prices
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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