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Dec 31, 2023
Paccar Q4 2023 Earnings Report
PACCAR reported record quarterly revenues and net income, driven by strong performance across all segments.
Key Takeaways
PACCAR achieved record quarterly revenues of $9.08 billion and net income of $1.42 billion ($2.70 per diluted share) in the fourth quarter of 2023. This represents a 54% increase in net income compared to the same period in 2022.
Record consolidated revenues of $9.08 billion.
Record net income of $1.42 billion.
PACCAR Parts revenue of $1.61 billion.
PACCAR Financial Services pretax income of $113.0 million.
Revenue by Segment
Forward Guidance
Class 8 truck industry retail sales in the U.S. and Canada are estimated to be in a range of 260,000-300,000 trucks in 2024. European above 16-tonne truck industry registrations are estimated to be in the range of 260,000-300,000 trucks in 2024. The South American above 16-tonne truck market is estimated to be in the range of 105,000-115,000 trucks in 2024.
Positive Outlook
- Infrastructure spending is driving demand for Kenworth and Peterbilt trucks.
- Replacement of older trucks is driving demand.
- Customers appreciate the industry-leading fuel efficiency of the new generation of DAF trucks.
- Customers appreciate the driver comfort of the new generation of DAF trucks.
- DAF trucks have a unique competitive advantage in the Europe truck market due to an innovative, aerodynamic design with a spacious, luxurious cab interior.
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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