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Dec 31, 2019
Paccar Q4 2019 Earnings Report
PACCAR reported record annual revenues and profits for 2019 and achieved net income for 81 consecutive years.
Key Takeaways
PACCAR reported Q4 2019 revenues of $6.12 billion and net income of $531.3 million ($1.53 per diluted share).
PACCAR achieved quarterly revenues of $6.12 billion in the fourth quarter 2019, compared to the $6.28 billion reported in the same period in 2018.
The company earned $531.3 million ($1.53 per diluted share) in the fourth quarter of 2019.
PACCAR Parts revenue of $993.9 million.
PACCAR Financial Services earned $68.1 million.
Paccar
Paccar
Paccar Revenue by Segment
Paccar Revenue by Geographic Location
Revenue by Segment
Truck sales Revenue
CapyFin.comParts Revenue
CapyFin.comFinancial services Revenue
CapyFin.comOther & eliminations Revenue
CapyFin.comRevenue by Geographic Location
US & Canada Revenue
CapyFin.comEurope Revenue
CapyFin.comOther regions Revenue
CapyFin.com Forward Guidance
U.S. and Canada Class 8 truck industry retail sales are expected to be in a range of 230,000-260,000 trucks in 2020. It is estimated that European truck industry registrations in the above 16-tonne market in 2020 will be another excellent year in the range of 260,000-290,000 trucks. The South American above 16-tonne truck market is projected to be in a range of 100,000-110,000 trucks in 2020.
Positive Outlook
- The North American and European economies are projected to continue growing in 2020.
- PACCAR is investing for long-term growth in aerodynamic truck models.
- PACCAR is investing in integrated powertrains including diesel, electric, hybrid, and hydrogen fuel cell technologies
- PACCAR is investing in advanced driver assistance systems
- PACCAR is investing in connected vehicle services and next-generation manufacturing and distribution capabilities.
Challenges Ahead
- Actual results may differ materially from those included in these statements due to a variety of factors.
- Freight tonnage grew 3.3% percent in the U.S. in 2019.
- PFS achieved fourth quarter 2019 pretax income of $68.1 million, compared to $87.2 million in the fourth quarter of 2018.
- PACCAR invested $323.2 million in capital projects and research and development.
- PACCAR repurchased 1.68 million of its common shares for $110.2 million during 2019.