PACCAR Increases Quarterly Revenues and Profits
Kenworth T880 Vocational Truck
PACCAR earned net income of
PACCAR net income in the first half of 2026 was
Financial Highlights – Second Quarter 2026
Highlights of PACCAR’s financial results for the second quarter of 2026 include:
-
Consolidated net sales and revenues of
$7.55 billion -
Consolidated net income of
$752.0 million - Global truck deliveries of 38,700 units.
-
Record PACCAR Parts revenues of
$1.75 billion -
PACCAR Parts pre-tax income of
$417.0 million -
PACCAR Financial Services pre-tax income of
$124.1 million -
Capital investments of
$138.7 million $114.3 million -
Cash generated from operations of
$700.8 million
Financial Highlights – First Half 2026
Highlights of PACCAR’s financial results for the first six months of 2026 include:
-
Consolidated net sales and revenues of
$14.32 billion -
Consolidated net income of
$1.36 billion -
Capital investments of
$274.2 million $223.4 million -
PACCAR Parts pre-tax income of
$819.3 million -
PACCAR Financial Services pre-tax income of
$239.6 million -
Cash generated from operations of
$1.67 billion
Global Truck Markets
Peterbilt proudly unveiled in the second quarter the Freedom 250 Special Edition Model 589 truck, honoring America’s historic 250th birthday. This truck delivers the superior quality and pride of ownership that Peterbilt customers expect, with a red, white and blue design that celebrates freedom and the open road.
European truck industry registrations in the above 16-tonne segment are estimated to be in a range of 290,000–330,000 vehicles this year. “DAF trucks are delivering the highest fuel efficiency and best-in-class driver comfort in the industry due to their innovative, aerodynamic design,” shared Jim Walenczak, DAF president. In the second quarter, DAF Trucks was named ‘Truck Manufacturer of the Year’ by the leading British Motor Trader magazine at its prestigious Commercial Industry Awards ceremony in the
The South American above 16-tonne truck market is estimated to be in the range of 100,000–110,000 trucks this year. “South American customers appreciate Kenworth and DAF’s industry-leading product quality, complemented by outstanding aftermarket support including PACCAR Parts, PACCAR Financial Services and premium dealerships,” said Lance Walters, PACCAR vice president.
PACCAR Parts Achieves Record Quarterly Revenues
PACCAR Parts earned pre-tax income of
“The improved North American freight market will increase our customers’ truck utilization, which will deliver increased parts and service business,” said Bryan Sitko, PACCAR vice president and PACCAR Parts general manager. “PACCAR Parts’ performance reflects investments in new parts distribution centers, transportation solutions such as Managed Dealer Inventory and Fleet Services, and a growing number of PACCAR trucks with PACCAR powertrains in operation.”
PACCAR Parts’ 21 global parts distribution centers, with over 4 million square feet, support more than 2,000 DAF, Kenworth and Peterbilt sales, parts and service locations, and more than 350 TRP stores. These independent, well-capitalized dealers provide outstanding service to customers, complementing the premium quality of DAF, Kenworth and Peterbilt vehicles.
Financial Services Companies Achieve Good Quarterly Results
PACCAR Financial Services (PFS) earned pre-tax income of
PFS has a portfolio of 222,000 trucks and trailers, with total assets of
Capital and R&D Investments in Products, Technologies and Facilities
PACCAR’s consistent long-term profits, strong balance sheet, and focus on quality, technology, and innovation have enabled the company to invest
PACCAR is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. PACCAR also designs and manufactures advanced powertrains, provides financial services and information technology, and distributes truck parts related to its principal business.
PACCAR will hold a conference call with securities analysts to discuss second quarter earnings on July 28, 2026, at 9:00 a.m. Pacific time. Interested parties may listen to the call by selecting “Q2 Earnings Webcast” at PACCAR’s homepage. The Webcast will be available on a recorded basis through August 4, 2026. PACCAR shares are listed on the NASDAQ Stock Market, symbol PCAR. Its homepage is www.paccar.com.
This release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from those included in these statements due to a variety of factors. More information about these factors is contained in PACCAR’s filings with the Securities and Exchange Commission.
| PACCAR Inc | |||||||||||||||||
| SUMMARY STATEMENTS OF OPERATIONS (Unaudited) | |||||||||||||||||
| (in millions except per share amounts) | |||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||
| June 30 | June 30 | ||||||||||||||||
2026 |
|
2025 |
|
2026 |
|
|
2025 |
||||||||||
| Truck, Parts and Other: | |||||||||||||||||
| Net sales and revenues | $ | 6,997.0 |
|
$ | 6,962.8 |
|
$ | 13,231.3 |
|
$ | 13,876.5 |
||||||
| Cost of sales and revenues | 5,989.0 |
|
5,995.4 |
|
11,405.5 |
|
11,886.4 |
||||||||||
| Research and development | 114.3 |
|
112.9 |
|
223.4 |
|
228.3 |
||||||||||
| Selling, general and administrative | 138.6 |
|
139.2 |
|
288.2 |
|
282.5 |
||||||||||
| Interest and other (income) expense, net | (16.3 |
) |
(9.5 |
) |
(37.6 |
) |
316.3 |
(1 |
) |
||||||||
| Truck, Parts and Other Income Before Income Taxes | 771.4 |
|
724.8 |
|
1,351.8 |
|
1,163.0 |
||||||||||
| Financial Services: | |||||||||||||||||
| Revenues | 549.7 |
|
547.7 |
|
1,091.9 |
|
1,075.7 |
||||||||||
| Interest and other | 345.1 |
|
355.2 |
|
688.0 |
|
705.5 |
||||||||||
| Selling, general and administrative | 41.1 |
|
40.1 |
|
80.8 |
|
78.4 |
||||||||||
| Provision for losses on receivables | 39.4 |
|
29.2 |
|
83.5 |
|
47.5 |
||||||||||
| Financial Services Income Before Income Taxes | 124.1 |
|
123.2 |
|
239.6 |
|
244.3 |
||||||||||
| Investment income | 86.0 |
|
83.9 |
|
166.4 |
|
167.7 |
||||||||||
| Total Income Before Income Taxes | 981.5 |
|
931.9 |
|
1,757.8 |
|
1,575.0 |
||||||||||
| Income taxes | 229.5 |
|
208.1 |
|
400.5 |
|
346.1 |
||||||||||
| Net Income | $ | 752.0 |
|
$ | 723.8 |
|
$ | 1,357.3 |
|
$ | 1,228.9 |
||||||
| Net Income Per Share: | |||||||||||||||||
| Basic | $ | 1.43 |
|
$ | 1.38 |
|
$ | 2.58 |
|
$ | 2.34 |
||||||
| Diluted | $ | 1.43 |
|
$ | 1.37 |
|
$ | 2.57 |
|
$ | 2.33 |
||||||
| Weighted Average Shares Outstanding: | |||||||||||||||||
| Basic | 527.0 |
|
525.9 |
|
526.8 |
|
525.9 |
||||||||||
| Diluted | 527.6 |
|
526.7 |
|
527.5 |
|
526.8 |
||||||||||
| Dividends declared per share | $ | .35 |
|
$ | .33 |
|
$ | .68 |
|
$ | .66 |
||||||
| (1) Includes a |
|||||||||||||||||
| PACCAR Inc | ||||||
| CONDENSED BALANCE SHEETS (Unaudited) | ||||||
| (in millions) | ||||||
June 30 |
|
|
December 31 |
|||
2026 |
2025 |
|||||
| ASSETS | ||||||
| Truck, Parts and Other: | ||||||
| Cash and marketable securities | $ | 8,667.4 |
$ | 9,253.7 |
||
| Trade and other receivables, net | 2,376.3 |
1,981.1 |
||||
| Inventories, net | 2,384.2 |
2,187.5 |
||||
| Property, plant and equipment, net | 4,519.8 |
4,505.3 |
||||
| Other assets | 3,766.9 |
3,605.2 |
||||
| Financial Services Assets | 22,265.5 |
22,803.4 |
||||
| $ | 43,980.1 |
$ | 44,336.2 |
|||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| Truck, Parts and Other: | ||||||
| Accounts payable, deferred revenues and other | $ | 7,367.7 |
$ | 7,890.9 |
||
| Financial Services Liabilities | 16,291.1 |
17,181.3 |
||||
| STOCKHOLDERS' EQUITY | 20,321.3 |
19,264.0 |
||||
| $ | 43,980.1 |
$ | 44,336.2 |
|||
| Common Shares Outstanding | 526.3 |
525.4 |
||||
| PACCAR Inc | ||||||||
| CONDENSED CASH FLOW STATEMENTS (Unaudited) | ||||||||
| (in millions) | ||||||||
|
|
|||||||
| Six Months Ended June 30 | 2026 |
2025 |
||||||
| OPERATING ACTIVITIES: |
|
|
||||||
| Net Income | $ |
1,357.3 |
|
$ |
1,228.9 |
|
||
| Depreciation and amortization: |
|
|
||||||
| Property, plant and equipment |
|
210.6 |
|
|
199.5 |
|
||
| Other assets |
|
204.5 |
|
|
212.9 |
|
||
| Net change in trade receivables, inventory and payables |
|
(219.3 |
) |
|
(178.2 |
) |
||
| Net decrease in wholesale receivables on new trucks |
|
192.4 |
|
|
304.6 |
|
||
| All other operating activities, net |
|
(72.9 |
) |
|
(24.0 |
) |
||
| Net Cash Provided by Operating Activities |
|
1,672.6 |
|
|
1,743.7 |
|
||
|
|
|||||||
| INVESTING ACTIVITIES: |
|
|
||||||
| Payments for property, plant and equipment |
|
(292.6 |
) |
|
(387.2 |
) |
||
| Acquisitions of equipment for operating leases |
|
(417.1 |
) |
|
(327.5 |
) |
||
| Net decrease (increase) in financial services receivables |
|
102.1 |
|
|
(547.5 |
) |
||
| Net increase in marketable debt securities |
|
(93.6 |
) |
|
(52.6 |
) |
||
| Proceeds from asset disposals and other |
|
269.4 |
|
|
304.7 |
|
||
| Net Cash Used in Investing Activities |
|
(431.8 |
) |
|
(1,010.1 |
) |
||
|
|
|||||||
| FINANCING ACTIVITIES: |
|
|
||||||
| Payments of cash dividends |
|
(1,093.7 |
) |
|
(1,920.3 |
) |
||
| Purchases of treasury stock |
|
(4.8 |
) |
|
(35.0 |
) |
||
| Proceeds from stock compensation transactions |
|
47.3 |
|
|
24.8 |
|
||
| Net decrease in debt and other |
|
(907.2 |
) |
|
(495.3 |
) |
||
| Net Cash Used in Financing Activities |
|
(1,958.4 |
) |
|
(2,425.8 |
) |
||
| Effect of exchange rate changes on cash |
|
(15.6 |
) |
|
181.3 |
|
||
| Net Decrease in Cash and Cash Equivalents |
|
(733.2 |
) |
|
(1,510.9 |
) |
||
| Cash and cash equivalents at beginning of period |
|
6,307.9 |
|
|
7,060.8 |
|
||
| Cash and cash equivalents at end of period | $ |
5,574.7 |
|
$ |
5,549.9 |
|
||
| PACCAR Inc | |||||||||||||||||||
| SEGMENT AND OTHER INFORMATION (Unaudited) | |||||||||||||||||||
| (in millions) | |||||||||||||||||||
|
|
|
|
||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||
| June 30 | June 30 | ||||||||||||||||||
2026 |
2025 |
|
2026 |
2025 |
|||||||||||||||
| Sales and Revenues: |
|
|
|
|
|||||||||||||||
| Truck | $ |
5,253.1 |
|
$ |
5,243.1 |
|
$ |
9,779.6 |
|
$ |
10,468.9 |
|
|||||||
| Parts |
|
1,746.9 |
|
|
1,720.9 |
|
|
3,457.0 |
|
|
3,410.8 |
|
|||||||
| Financial Services |
|
549.7 |
|
|
547.7 |
|
|
1,091.9 |
|
|
1,075.7 |
|
|||||||
| Intersegment Eliminations and Other |
|
(3.0 |
) |
|
(1.2 |
) |
|
(5.3 |
) |
|
(3.2 |
) |
|||||||
$ |
7,546.7 |
|
$ |
7,510.5 |
|
$ |
14,323.2 |
|
$ |
14,952.2 |
|
||||||||
|
|
|
|
||||||||||||||||
| Pretax Profit: |
|
|
|
|
|||||||||||||||
| Truck | $ |
360.5 |
|
$ |
308.8 |
|
$ |
536.7 |
|
$ |
673.7 |
|
|||||||
| Parts |
|
417.0 |
|
|
416.5 |
|
|
819.3 |
|
|
843.0 |
|
|||||||
| Financial Services |
|
124.1 |
|
|
123.2 |
|
|
239.6 |
|
|
244.3 |
|
|||||||
| Investment Income and Other |
|
79.9 |
|
|
83.4 |
|
|
162.2 |
|
|
(186.0 |
) |
(1 |
) |
|||||
$ |
981.5 |
|
$ |
931.9 |
|
$ |
1,757.8 |
|
$ |
1,575.0 |
|
||||||||
|
|
|
|
||||||||||||||||
| GEOGRAPHIC REVENUE | |||||||||||||||||||
| (in millions) | |||||||||||||||||||
|
|
|
|
||||||||||||||||
| Three Months Ended | Six Months Ended | ||||||||||||||||||
| June 30 | June 30 | ||||||||||||||||||
2026 |
2025 |
|
2026 |
2025 |
|||||||||||||||
$ |
4,590.4 |
|
$ |
4,748.5 |
|
$ |
8,642.2 |
|
$ |
9,375.8 |
|
||||||||
|
1,786.0 |
|
|
1,671.2 |
|
|
3,594.9 |
|
|
3,239.8 |
|
||||||||
| Other |
|
1,170.3 |
|
|
1,090.8 |
|
|
2,086.1 |
|
|
2,336.6 |
|
|||||||
$ |
7,546.7 |
|
$ |
7,510.5 |
|
$ |
14,323.2 |
|
$ |
14,952.2 |
|
||||||||
|
|
|
|
||||||||||||||||
| NEW TRUCK DELIVERIES | |||||||||||||||||||
|
|
|
|
||||||||||||||||
| Three Months Ended |
|
Six Months Ended | |||||||||||||||||
| June 30 | June 30 | ||||||||||||||||||
|
2026 |
|
|
|
2025 |
|
|
|
|
2026 |
|
|
|
2025 |
|
||||
|
22,000 |
|
|
23,000 |
|
|
39,800 |
|
|
45,200 |
|
||||||||
|
11,200 |
|
|
10,600 |
|
|
22,400 |
|
|
21,000 |
|
||||||||
| Other |
|
5,500 |
|
|
5,700 |
|
|
9,600 |
|
|
13,200 |
|
|||||||
|
38,700 |
|
|
39,300 |
|
|
71,800 |
|
|
79,400 |
|
||||||||
|
|
|
|
||||||||||||||||
| (1) Includes a |
|||||||||||||||||||
| PACCAR Inc | ||||||
| SUPPLEMENTARY INFORMATION | ||||||
| RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | ||||||
|
||||||
| (Unaudited) | ||||||
| “Adjusted net income (non-GAAP)” and “adjusted net income per diluted share (non-GAAP)” are financial measures that are not in accordance with |
||||||
|
||||||
| On July 19, 2016, the European Commission (EC) concluded its investigation of all major European truck manufacturers and reached a settlement with the Company. Following the settlement, legal proceedings seeking damages were filed against all major European truck manufacturers. In the first quarter of 2023, the Company recorded a pre-tax charge of |
||||||
|
||||||
| The Company utilizes these non-GAAP measures to allow investors and management to evaluate operating trends by excluding a significant charge that is not representative of company performance. | ||||||
|
||||||
| Reconciliations from the most directly comparable GAAP measures to adjusted net income (non-GAAP) and adjusted net income per diluted share (non-GAAP) are as follows: | ||||||
|
||||||
Six Months Ended |
||||||
| ($ in millions, except per share amounts) | June 30, 2025 |
|||||
| Net income | $ |
1,228.9 |
||||
| EC-related claims, net of taxes |
|
264.5 |
||||
| Adjusted net income (non-GAAP) | $ |
1,493.4 |
||||
| Per diluted share: |
|
|||||
| Net income | $ |
2.33 |
||||
| EC-related claims, net of taxes |
|
.50 |
||||
| Adjusted net income (non-GAAP) | $ |
2.83 |
||||
|
||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260728566233/en/
Ken Hastings
(425) 468-7530
ken.hastings@paccar.com
Source: PACCAR Inc