Paccar's 2Q Earnings Improve; Revenue Reaches Record

ruck maker Paccar Inc. said Tuesday its first-quarter profit was $241.5 million or $1.39 a share, up from $236.5 million or $1.34 a share a year earlier.

img src="/sites/default/files/images/articles/paccarlogo.gif" width=140 align=right>The company said its net sales and financial services revenues grew 28% to a record $3.56 billion.

The company said it made a record pretax profit of $452.7 million.

“Through June, industry retail sales of Class 8 trucks in the U.S. and Canada exceeded 137,000 units, more than 33% higher than a year ago,” said Tom Plimpton, Paccar’s president.

“Record freight tonnage, carriers achieving excellent profitability and normal equipment replacement cycles are driving industry sales,” he said in a statement.