Paccar Stock Price, News & Analysis

PACCAR Inc’s Board of Directors has declared a quarterly cash dividend of $.25 per share, payable on June 7, 2023, to stockholders of record by the close of business on May 17, 2023. PACCAR, traded on NASDAQ under the symbol PCAR, is a leader in designing and manufacturing high-quality trucks and powertrains, and offers financial services and IT support. The company's focus on customer satisfaction and innovation positions it well in the competitive market, supporting its robust operational performance.

PACCAR reported record revenues of $8.47 billion and a net income of $733.9 million for Q1 2023, driven by strong demand for its trucks and parts. Excluding a $446.4 million non-recurring charge from civil litigation, adjusted net income was $1.18 billion, an increase from $600.5 million in Q1 2022. The company’s PACCAR Parts segment saw record revenue of $1.62 billion and pre-tax income of $438.6 million. PACCAR Financial Services also reported strong performance with pretax income of $148.8 million. The company continues to invest in next-gen technologies, including electric and hydrogen powertrains, while maintaining a robust balance sheet with $5.92 billion in cash and marketable securities.

PACCAR has announced a minority equity investment in its connected truck partner, Platform Science. This investment complements the recently launched partnership to integrate Platform Science’s Virtual Vehicle technology with PACCAR Connect. The collaboration aims to provide Kenworth and Peterbilt customers with a standardized telematics system, enhancing productivity and vehicle uptime by eliminating aftermarket installations. PACCAR's CTO, John Rich, stated that this system will be user-friendly and customizable, set to launch on trucks in 2024.

PACCAR, recognized for its Supplier Performance Management (SPM) program, honors top suppliers who excelled in product development, operations, and aftermarket support. Awards for 2022 were given to suppliers achieving Master, Leader, and Achiever statuses, strengthening collaboration and innovation. Vice President Brennan Gourdie emphasizes the value of supplier commitments. The SPM Masters include Rago and Son, Inc.; Leaders include ConMet and Cummins; while Achievers feature ConMet (Plastics) and Michelin North America Inc. PACCAR continues as a global leader in manufacturing and supporting trucks under the Kenworth, Peterbilt, and DAF brands.

PACCAR achieved record revenues and net income in 2022, with annual revenues of $28.82 billion and net income of $3.01 billion, reflecting strong demand for its truck models. The company reported $8.13 billion in quarterly revenues for Q4 2022, a 22% increase year-over-year. PACCAR declared cash dividends totaling $4.19 per share, including a $2.80 extra cash dividend. With a total shareholder return of 17.1% in 2022, PACCAR also maintained an elite A rating from CDP for its environmental practices. The company plans to continue investing in next-generation technologies, including electric and autonomous vehicles.

PACCAR Inc has declared a 50% stock dividend, issuing one additional share for every two shares held, effective February 7, 2023, for shareholders of record as of January 17, 2023. The company also announced a quarterly cash dividend increase to $0.25 per share, payable on March 8, 2023, to those on record by February 14, 2023. Over the last five years, PACCAR has raised its cash dividend by 50%. Mark Pigott, executive chairman, emphasized the company’s 83 years of net profit and continuous dividend payments since 1941, supported by significant investments totaling $7.3 billion in facilities and technologies.

PACCAR's Board of Directors has declared an extra cash dividend of $2.80 per share, payable on January 5, 2023, to stockholders of record on December 16, 2022. This decision reflects PACCAR's strong financial performance, highlighted by excellent shareholder returns and robust net income. The CEO noted that strong cash flow supports investments in new manufacturing, emerging technologies, and high-demand truck models, contributing to industry-leading fuel efficiency.