{"id":518032,"date":"2021-07-27T08:03:30","date_gmt":"2021-07-27T12:03:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/paccar-achieves-very-good-quarterly-revenues-and-profits-2\/"},"modified":"2021-07-27T08:03:30","modified_gmt":"2021-07-27T12:03:30","slug":"paccar-achieves-very-good-quarterly-revenues-and-profits-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/paccar-achieves-very-good-quarterly-revenues-and-profits-2\/","title":{"rendered":"PACCAR Achieves Very Good Quarterly Revenues and Profits"},"content":{"rendered":"

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PACCAR Achieves Very Good Quarterly Revenues and Profits<\/span><\/b><\/p>\n

PACCAR Parts Delivers Record Quarterly Sales and Profits<\/span><\/b><\/p>\n

BELLEVUE, Wash.–(BUSINESS WIRE<\/a>)–
\n\u201cPACCAR achieved very good revenues and net income in the second quarter of 2021,\u201d said Preston Feight, chief executive officer. \u201cPACCAR Parts achieved record quarterly sales and profits due to strong industry truck utilization, an increased number of Kenworth, Peterbilt and DAF trucks with the PACCAR Powertrain, and the growth of PACCAR Parts\u2019 e-commerce platform. PACCAR Financial Services earned record quarterly profits due to excellent portfolio quality and strong used truck demand. I am very proud of our employees for delivering the highest quality products and services to our customers.\u201d\n<\/p>\n

This press release features multimedia. View the full release here: https:\/\/www.businesswire.com\/news\/home\/20210727005328\/en\/<\/a><\/p>\n

\"New<\/p>\n

New DAF XG+ Truck (Photo: Business Wire)<\/p>\n<\/div>\n

\n\u201cDAF launched new, industry-leading heavy truck models in June. The new DAF XF, XG and XG+ trucks represent a $1 billion investment. DAF is the first manufacturer to incorporate new European regulations that define vehicle dimensions. The DAF vehicles\u2019 streamlined design delivers up to 10% greater fuel efficiency, and offers enhanced safety features and optimized driver comfort. The DAF cabs will be manufactured using advanced robotic technology in the new state-of-the-art cab factory in Westerlo, Belgium,\u201d said Harrie Schippers, president and chief financial officer.\n<\/p>\n

\nDarrin Siver, senior vice president, said, \u201cKenworth and Peterbilt launched new heavy- and medium-duty vehicles earlier this year. Production started in May of the new Kenworth T680 and Peterbilt 579 trucks and medium-duty truck production will begin in the third quarter. Customer demand is very strong.\u201d\n<\/p>\n

\nPACCAR earned net income of $492.9 million ($1.41 per diluted share) in the second quarter, compared to $147.7 million ($.43 per diluted share) earned in the same period last year. Second quarter net sales and financial services revenues were $5.84 billion, an increase of 91% compared to $3.06 billion achieved in the second quarter of 2020.\n<\/p>\n

\nPACCAR reported first half net income of $963.0 million ($2.76 per diluted share), compared to $507.1 million ($1.46 per diluted share) earned in the first six months of last year. Net sales and financial services revenues for the first six months of 2021 were $11.69 billion, compared to $8.22 billion achieved last year.\n<\/p>\n

Quarterly Dividend <\/b><\/p>\n

\nPACCAR\u2019s Board of Directors declared a regular quarterly cash dividend of thirty-four cents ($.34) per share, payable on September 8, 2021, to stockholders of record at the close of business on August 18, 2021.\n<\/p>\n

Financial Highlights \u2013 Second Quarter 2021<\/b><\/p>\n

\nHighlights of PACCAR\u2019s financial results for the second quarter of 2021 include:\n<\/p>\n