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Dec 31, 2021
Paccar Q4 2021 Earnings Report
PACCAR reported very good annual revenues and net income, driven by record aftermarket parts and financial services profits.
Key Takeaways
PACCAR achieved quarterly revenues of $6.69 billion in the fourth quarter of 2021, compared to $5.57 billion in 2020. The company earned $511.4 million ($1.47 per diluted share) in the fourth quarter of 2021, 26% higher than the $405.8 million ($1.17 per diluted share) in 2020.
PACCAR reported very good annual revenues and net income in 2021.
PACCAR's results reflect record aftermarket parts and financial services profits.
Customer demand for the new Kenworth, Peterbilt and DAF trucks introduced in 2021 is very strong.
Kenworth, Peterbilt and DAF delivered 47,600 trucks in the fourth quarter, 45% higher than in the third quarter, reflecting an improvement in the global supply chain.
Paccar
Paccar
Paccar Revenue by Segment
Revenue by Segment
Truck Revenue
CapyFin.comParts Revenue
CapyFin.com Forward Guidance
U.S. and Canada Class 8 truck industry retail sales are estimated to be in a range of 250,000-290,000 trucks in 2022, based on good economic growth and strong freight demand. It is estimated that European truck industry registrations in the above 16-tonne market in 2022 will be in the range of 260,000-300,000 trucks. The South American above 16-tonne truck market was 127,000 vehicles in 2021, and is projected to be in the range of 125,000-135,000 trucks in 2022.
Positive Outlook
- U.S. and Canada Class 8 truck industry retail sales are estimated to be in a range of 250,000-290,000 trucks in 2022.
- Good economic growth is expected.
- Strong freight demand is anticipated.
- European truck industry registrations in the above 16-tonne market in 2022 will be in the range of 260,000-300,000 trucks.
- The South American above 16-tonne truck market is projected to be in the range of 125,000-135,000 trucks in 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income