Welcome to our dedicated page for Paccar news (Ticker: PCAR), a resource for investors and traders seeking the latest updates and insights on Paccar stock.
PACCAR Inc (NASDAQ: PCAR) is frequently in the news for developments across its truck, parts and financial services businesses. The company’s releases describe it as 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 brands. News coverage on this page reflects PACCAR’s own announcements and related commentary from third parties.
Investors and industry followers will find regular earnings updates in which PACCAR reports quarterly revenues, net income, segment performance and geographic revenue breakdowns. These releases often highlight the contributions of the Truck, PACCAR Parts and PACCAR Financial Services segments, along with commentary on U.S. and Canada Class 8 truck markets, European heavy truck registrations and South American demand.
Dividend declarations are another recurring news item. PACCAR’s Board of Directors issues announcements on regular quarterly cash dividends and, at times, extra cash dividends, accompanied by management commentary on long-term shareholder returns, cash flow and investment in trucks, powertrains and technology. These updates provide insight into the company’s capital allocation approach.
News items also cover product and technology initiatives, such as next generation Kenworth, Peterbilt and DAF trucks, battery electric and alternative powertrain vehicles, and the company’s battery joint venture, Amplify Cell Technologies. PACCAR reports on investments in advanced driver assistance systems, connected vehicle services, AI-enabled predictive maintenance and expansions of manufacturing and technical facilities.
Additional stories may include recognition of DAF and other PACCAR trucks with industry awards, supplier performance awards under the Supplier Performance Management program, and comments from external stakeholders on topics such as autonomous trucks. Bookmark this page to follow PACCAR’s latest financial results, dividends, technology milestones and market commentary in one place.
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.
Luiz Pretti has been elected to the PACCAR Inc Board of Directors, succeeding Franklin L. Feder. Pretti's international business and management experience will benefit PACCAR's global growth. PACCAR thanks Feder for his service. Pretti's background includes leadership roles in agribusiness, finance, and automotive industries, with significant contributions to the Brazilian business community. PACCAR is a leading global technology company in truck design, manufacturing, and customer support, with shares listed on NASDAQ under the symbol PCAR.
PACCAR reported excellent financial performance in the first quarter of 2024, with record revenues and net income. The company achieved quarterly revenues of $8.74 billion, compared to $8.47 billion in the same period last year. Net income was $1.20 billion in the first quarter of 2024. PACCAR's strong operating margins are attributed to investments in new truck models, advanced manufacturing, and technology-enabled aftermarket solutions.
Highlights of PACCAR's financial results include consolidated revenues of $8.74 billion, record PACCAR Parts revenue of $1.68 billion, and PACCAR Financial Services pretax income of $113.9 million. The company also announced capital investments in new products and technologies, including a battery cell manufacturing joint venture.
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