Paccar Stock Price, News & Analysis

Deere & Company (NYSE: DE) has appointed PACCAR CEO R. Preston Feight to its board of directors, expanding the board to 12 members. Feight, who has been PACCAR's CEO since July 2019, brings 26 years of experience from the global truck manufacturing company. His expertise spans engineering, manufacturing, aftermarket, and financial services, with a strong focus on advanced technologies including diesel, electric, and hydrogen fuel cell powertrains. Under his leadership, PACCAR has advanced in driver assistance systems and truck connectivity. Prior to becoming CEO, Feight held various leadership positions at PACCAR and previously worked at AlliedSignal and Ford.

PACCAR reported strong financial results for Q3 2024, with net income of $972.1 million ($1.85 per diluted share) on revenues of $8.24 billion. Key highlights include:

- Global truck deliveries of 44,900 units
- PACCAR Parts revenues of $1.66 billion with pretax income of $406.7 million
- PACCAR Financial Services pretax income of $106.5 million
- Cash generated from operations of $1.29 billion

The company's strong performance was attributed to industry-leading trucks and robust aftersales performance. PACCAR also showcased new truck models at the IAA Transportation show and launched new vehicle configurations for the car carrier market. The company continues to invest in research and development, with estimated expenses of $450-$470 million for 2024 and $480-$530 million for 2025.

PACCAR Inc (NASDAQ: PCAR), a global leader in truck manufacturing, has declared a regular quarterly cash dividend of $0.30 per share. The dividend is payable on December 4, 2024, to stockholders of record as of November 13, 2024. PACCAR is renowned for its high-quality light-, medium-, and heavy-duty trucks under the Kenworth, Peterbilt, and DAF brands. The company also specializes in advanced powertrains, financial services, information technology, and truck parts distribution. This dividend announcement demonstrates PACCAR's commitment to delivering value to its shareholders and reflects the company's financial stability in the competitive automotive industry.

PACCAR reported excellent revenues and net income in Q2 2024, with net income of $1.12 billion ($2.13 per diluted share) and net sales of $8.77 billion. For the first half of 2024, PACCAR achieved net income of $2.32 billion ($4.40 per diluted share) and net sales of $17.52 billion. Key highlights include:

• Global truck deliveries of 48,400 units
• PACCAR Parts revenues of $1.66 billion
• PACCAR Financial Services pretax income of $111.2 million
• Capital investments of $219.6 million and R&D expenses of $117.1 million

The company maintains a strong market position in North America and Europe, with plans for expansion and investment in new technologies and facilities.

PACCAR's Board of Directors has declared a regular quarterly cash dividend of $0.30 per share. This dividend will be payable on September 5, 2024, to shareholders who are on record by the close of business on August 15, 2024. PACCAR, a global leader in the design, manufacture, and support of high-quality trucks under brands such as Kenworth, Peterbilt, and DAF, also provides advanced powertrains, financial services, information technology, and truck parts distribution. The company's stock is traded on NASDAQ under the symbol PCAR.

Amplify Cell Technologies, a joint venture of Accelera, Daimler Trucks & Buses US Holding, and PACCAR, has started constructing a battery cell manufacturing facility in Marshall County, Mississippi.

The 500-acre site will host a 2 million sq. ft. facility with an annual production capacity of 21 GWh of lithium-iron-phosphate (LFP) battery cells. The plant aims to begin production in 2027, creating over 2,000 manufacturing jobs.

This project represents the largest payroll commitment in Mississippi's history. Partners have committed $2-3 billion to this venture. EVE Energy, a 10% stakeholder, will provide technology expertise.

The facility will help localize the battery supply chain, important for the electric commercial vehicle market in North America, and support the transition to zero-emission technologies.

Accelera by Cummins, Daimler Truck, and PACCAR have formed a joint venture named Amplify Cell Technologies to localize battery cell production in the U.S. The collaboration aims to advance zero-emissions technology for electric commercial vehicles. Amplify will build a 21 GWh factory in Marshall County, Mississippi, expected to create over 2,000 U.S. manufacturing jobs and commence operations in 2027. Kel Kearns has been appointed as CEO. Each partner owns 30% of the venture, with EVE Energy holding a 10% stake and serving as the technology partner. This initiative aligns with the partners’ goals to meet sustainability needs and contribute to the Paris Climate Agreement.

PACCAR will hold meetings with research analysts and institutional shareholders on June 5, 2024, in New York City starting at 9:00 a.m. Eastern time. These events will be available in real time via a Webcast on PACCAR's website and replays will be accessible until June 30, 2024. PACCAR is known for designing, manufacturing, and supporting high-quality light, medium, and heavy-duty trucks under the Kenworth, Peterbilt, and DAF brands. The company also specializes in advanced powertrains, financial services, information technology, and the distribution of truck parts.

PACCAR Inc. has increased its regular quarterly cash dividend by 11% from $.27 to $.30 per share. The dividend will be payable on June 5, 2024, to stockholders of record on May 15, 2024. The company has a history of providing strong shareholder returns and profitability due to its leadership in premium quality vehicles and aftermarket services.