Paccar Reports Record Profit in Third Quarter

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eavy-duty truck maker Paccar Inc. Tuesday reported a record quarterly profit as its third-quarter net income jumped 24% to $304.8 million or $1.78 per share, compared with $246.7 million or $1.41 a year earlier.

img src="/sites/default/files/images/articles/paccarlogo.gif" width=140 align=right>Paccar, the parent of Kenworth Truck Co., Peterbilt Motors Co. and DAF Trucks, said its net sales and financial services revenues grew 21% to $3.54 billion.

Kenworth and Peterbilt’s Class 6, 7 and 8 sales and profits all reached records during the quarter, Mark Pigott, Paccar’s chairman and chief executive officer, said in a statement.

Pigott also cited DAF’s growing share in Europe and a strong performance in the company’s aftermarket parts and technology business.