Paccar Stock Price, News & Analysis

PACCAR is launching the SuperTruck 3 program, focusing on developing battery electric and fuel cell vehicles under its Kenworth and Peterbilt brands. This initiative aims to enhance zero-emissions medium- and heavy-duty trucks, with a matching grant of $33 million from the DOE. Previous SuperTruck programs have successfully integrated innovative technologies into production vehicles, resulting in environmental benefits. The program seeks to lower carbon emissions and improve freight efficiency, showcasing PACCAR's leadership in the zero-emissions vehicle sector.

PACCAR has been recognized as a 2021 “Top Company for Women to Work for in Transportation” by the Women in Trucking Association (WIT). The honor reflects PACCAR's commitment to gender diversity, flexible working hours, and career advancement opportunities. Three executives from PACCAR were acknowledged: Lily Ley as a finalist for WIT’s “Influential Women in Trucking” award, and Brooke Vasquez and Erin Luke as “Top Women to Watch in Transportation.” PACCAR is dedicated to fostering a diverse workforce and supporting women's careers through initiatives like the PACCAR Women’s Association.

PACCAR reported net income of $377.7 million ($1.08 per diluted share) for Q3 2021, slightly down from $385.5 million in Q3 2020. Third quarter revenues reached $5.15 billion, compared to $4.94 billion a year prior. The company delivered 32,800 trucks despite losing 7,000 deliveries due to semiconductor shortages. PACCAR Parts achieved record revenues of $1.26 billion and pretax profit of $280.8 million, and PACCAR Financial Services reported a record pretax income of $120.1 million. Overall, PACCAR's nine-month revenues totaled $16.84 billion, surging from $13.16 billion in the previous year.

The ongoing global semiconductor shortage has impacted PACCAR, leading to a decrease in truck deliveries. In Q3 2021, PACCAR delivered approximately 33,000 trucks, down from 40,100 in Q2 2021, marking a shortfall of about 7,000 vehicles. The company anticipates continued production inefficiencies in Q4 but expects truck production to recover once supply issues are resolved. Despite challenges, demand for PACCAR's brands, including Kenworth, Peterbilt, and DAF, remains strong.

PACCAR has partnered with Aurora and FedEx to launch a commercial pilot of autonomous trucks for linehaul operations. This pilot marks the first collaboration of its kind in the trucking industry. The autonomous trucks will transport FedEx loads between Dallas and Houston, covering a 500-mile round trip. This project builds on PACCAR's existing strategic alliance with Aurora, which was initiated in January 2021, aimed at enhancing safety and efficiency in trucking through autonomous technology.

PACCAR Inc’s Board of Directors declared a quarterly cash dividend of $.34 per share, payable on December 7, 2021, to stockholders of record by the close of business on November 16, 2021. PACCAR is a leading global company in the design and manufacturing of high-quality trucks, including Kenworth, Peterbilt, and DAF brands. The company also provides financial services and distributes truck parts. PACCAR’s shares trade on the NASDAQ under the symbol PCAR.

PACCAR reported strong financial results for Q2 2021, with net income of $492.9 million ($1.41 per diluted share), a significant rise from $147.7 million in Q2 2020. Total net sales reached $5.84 billion, a 91% increase year-over-year. Record revenues were achieved in PACCAR Parts, totaling $1.21 billion, driven by high truck utilization and e-commerce growth. In the first half of 2021, net income increased to $963.0 million, and the company declared a quarterly dividend of $0.34 per share. Strong customer demand for new models, including DAF’s new trucks, reflects positive market conditions.

PACCAR declared a quarterly cash dividend of $0.34 per share, scheduled for payment on September 8, 2021. This dividend is designated for stockholders of record as of the close of business on August 18, 2021. PACCAR, known for its high-quality trucks under the Kenworth, Peterbilt, and DAF brands, also specializes in advanced powertrains and financial services. The company's shares are traded on NASDAQ under the symbol PCAR.

Pilot Company celebrated driver Daniel Abshire's 40 years of service with a custom Peterbilt truck during a luncheon on July 7, 2021, in Knoxville. Daniel, who has driven over 2.5 million miles and delivered more than 200 million gallons of fuel, follows in the footsteps of his father, Jim Abshire, Pilot's second-ever driver. The truck honors Jim's legacy and is a testament to the family-centric culture at Pilot, which has been family-owned for 63 years. Pilot operates the third-largest tanker fleet in North America, employing over 1,200 drivers.