PACCAR Q3 2026 net income rises 44% to $848M

PACCAR projects 2027 capital expenditures of $650–$700 million and research and development expenses of $460–$500 million.

Rhea-AI Filing Summary

PACCAR Inc reported third-quarter 2026 revenues of $7.94 billion, up 19% from $6.67 billion a year earlier, and net income of $847.5 million, up 44% from $590.0 million. Diluted earnings were $1.61 per share versus $1.12. Global truck deliveries were 40,100. PACCAR Parts recorded record quarterly revenues of $1.78 billion and pretax income of $404.4 million, compared with $410.0 million. PACCAR Financial Services pretax income was $138.1 million, compared with $126.2 million.

For the first nine months, revenues were $22.26 billion and net income was $2.20 billion. Operating cash provided was $2.52 billion, compared with $3.27 billion in the same period of 2025. PACCAR projected 2026 capital expenditures of $650–$700 million and R&D expenses of $440–$460 million; its 2027 estimates are $650–$700 million and $460–$500 million, respectively. PACCAR Connect will be available in Kenworth and Peterbilt Class 8 trucks beginning in early 2027.

2 points · 0 major

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0 major · 1 point

How the balance works

Positive

• Moderate pointThird-quarter revenue increased 19% to $7.94 billion year over year.
• Moderate pointThird-quarter net income increased 44% to $847.5 million year over year.

Negative

• Moderate pointNine-month operating cash provided declined to $2.52 billion from $3.27 billion.

Filing Explained

PACCAR reported $9,238.2 million in cash and marketable securities at September 30, 2026.

PACCAR’s third-quarter statements report dividends declared of $0.35 per share, recording a declared distribution for holders of its common stock.

At September 30, 2026, PACCAR reported $9,238.2 million in Truck, Parts and Other cash and marketable securities, versus $9,253.7 million at December 31, 2025.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Third-quarter revenues: $7.94 billion Third-quarter net income: $847.5 million Diluted earnings per share: $1.61 +5 more

8 metrics

Third-quarter revenues $7.94 billion Three months ended September 30, 2026

Third-quarter net income $847.5 million Three months ended September 30, 2026

Diluted earnings per share $1.61 Third quarter 2026

Nine-month revenues $22.26 billion Nine months ended September 30, 2026

Nine-month net income $2.20 billion Nine months ended September 30, 2026

Cash provided by operating activities $2.52 billion Nine months ended September 30, 2026

Global truck deliveries 40,100 units Third quarter 2026

PACCAR Parts quarterly revenues $1.78 billion Record revenues in the third quarter of 2026

Key Terms

pretax income, capital expenditures, commercial paper, medium-term notes, +1 more

5 terms

pretax income financial

"PACCAR Parts pretax income of $404.4 million"

Pretax income is the profit a company generates after paying all operating costs, interest, and other expenses but before income taxes are deducted. It matters to investors because it reveals the company's underlying earning power without the distortion of different tax rates or one-time tax items, acting like a pre-tax paycheck that helps compare performance across firms and assess ability to cover debt and return cash to owners.

capital expenditures financial

"capital expenditures are projected to be in the range"

Capital expenditures are the money a company spends to buy or improve big assets like buildings, equipment, or machines that will last a long time. These investments matter because they help the company grow and operate more efficiently, similar to how upgrading a home’s appliances or adding a new room can make it better and more valuable.

commercial paper financial

"access to the commercial paper and medium-term note markets"

Short-term IOUs issued by companies to raise cash quickly, sold to investors for a fixed, brief period (usually up to a few months) and repaid with interest at maturity. Think of it as a business borrowing from the public without putting up collateral, like a friend asking to borrow money for a few weeks with a promise to pay back a bit more. Investors watch commercial paper to gauge a company’s short-term funding health and credit risk; difficulty issuing it or rising yields can signal liquidity stress or higher perceived risk.

medium-term notes financial

"issued $2.38 billion of medium-term notes"

Medium-term notes are debt securities issued by companies, banks or governments that promise to pay interest and return principal at a set date a few years out—typically longer than short-term bills but shorter than long-term bonds. For investors they act like staggered IOUs that provide predictable income and help diversify holdings, but they carry credit and interest-rate risk and can affect a portfolio’s cash flow and stability depending on the issuer’s creditworthiness and the note’s term.

Electronic Driver Logs technical

"and Electronic Driver Logs"

Earnings Snapshot

Consolidated net sales and revenues: $7.94 billion · Guidance included

Third quarter 2026

Consolidated net sales and revenues $7.94 billion Increased 19% compared with the same period last year

Net income $847.5 million Increased 44% compared with the same period last year

Diluted net income per share $1.61 $1.12 in the third quarter of 2025

Guidance

For 2026, capital expenditures are projected at $650–$700 million and research and development expenses are estimated at $440–$460 million. For 2027, PACCAR estimates capital expenditures of $650–$700 million and research and development expenses of $460–$500 million.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What revenue did PCAR report for the third quarter of 2026?

PACCAR reported third-quarter 2026 revenues of $7.94 billion, compared with $6.67 billion in the third quarter of 2025, an increase of 19%. The reported figure is consolidated net sales and revenues.

How much did PCAR earn in the third quarter of 2026?

PACCAR reported third-quarter net income of $847.5 million, compared with $590.0 million a year earlier, an increase of 44%. Diluted earnings were $1.61 per share, compared with $1.12 in the prior-year quarter.

What is PACCAR Connect for PCAR trucks?

PACCAR Connect is an integrated platform combining fleet telematics systems, PACCAR truck data, customer-specific productivity applications and Electronic Driver Logs. It will be available in Kenworth and Peterbilt Class 8 trucks beginning in early 2027.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/27/2026 - 08:05 AM EDT Accepted by SEC EDGAR 10/27/2026 - 08:05 AM EDT Learn about SEC filing dates

false000007536200000753622026-10-272026-10-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 27, 2026

PACCAR Inc

(Exact name of registrant as specified in its charter)

Delaware		001-14817		91-0351110
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

777 106th Avenue NE, Bellevue, WA 98004

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code (425) 468-7400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common stock, $1 par value	PCAR	The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition

On October 27, 2026 PACCAR Inc (the “Registrant”) issued a press release announcing its financial results for the third quarter of 2026 and announcing that it would hold a conference call with securities analysts to discuss third quarter 2026 earnings to be held that same day as more fully described in the press release attached as Exhibit 99.1 to this report.

The information in this Current Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section, nor shall it be deemed incorporated by reference in any filing or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing or document.

Item 9.01 Financial Statements and Exhibits

(d)Exhibits.

The following is furnished as an Exhibit to this report.

Exhibit Number	Description
99.1	Press release issued October 27, 2026.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			PACCAR Inc
Date: October 27, 2026		By:	/s/ B. J. Poplawski
			B. J. Poplawski
			Senior Vice President and Chief Financial Officer

Exhibit 99.1

		PACCAR Inc
		Public Affairs Department
		P.O. Box 1518
		Bellevue, WA 98009
		Contact:		Ken Hastings
				(425) 468-7530
				ken.hastings@paccar.com

FOR IMMEDIATE RELEASE

PACCAR Achieves Excellent Quarterly Revenues and Profits

October 27, 2026, Bellevue, Washington – “PACCAR achieved excellent results in the third quarter of 2026. Revenues increased by 19% and net income increased by 44% compared to same period last year,” said Preston Feight, chief executive officer. “The increase in quarterly profits resulted from higher truck segment margins and strong overall business performance. PACCAR Parts reported record revenues and PACCAR Financial Services achieved very good profits. I am very proud of our employees who design, build, and deliver the company’s trucks and transportation solutions to our customers.”

PACCAR achieved net income of $847.5 million ($1.61 per diluted share) in the third quarter of this year, compared to $590.0 million ($1.12 per diluted share) earned in the same period last year. Third quarter revenues were $7.94 billion, compared to $6.67 billion reported in the third quarter of 2025.

PACCAR’s net income in the first nine months of 2026 was $2.20 billion ($4.18 per diluted share) compared to $1.82 billion ($3.45 per diluted share) in the first nine months of 2025, which included a $264.5 million after-tax non-recurring charge related to civil litigation in Europe. Net sales and financial services revenues for the first nine months of 2026 were $22.26 billion, compared to $21.62 billion in the same period last year.

Financial Highlights – Third Quarter 2026

Highlights of PACCAR’s financial results for the third quarter of 2026 include:

•Consolidated net sales and revenues of $7.94 billion.

•Consolidated net income of $847.5 million.

•Global truck deliveries of 40,100 units.

•Record PACCAR Parts revenues of $1.78 billion.

•PACCAR Parts pretax income of $404.4 million.

•PACCAR Financial Services pretax income of $138.1 million.

•Capital investments of $137.6 million and R&D expenses of $108.9 million.

•Cash generated from operations of $847.7 million.

Financial Highlights – Nine Months 2026

Highlights of PACCAR’s financial results for the first nine months of 2026 include:

•Consolidated net sales and revenues of $22.26 billion.

•Consolidated net income of $2.20 billion.

•PACCAR Parts pretax income of $1.22 billion.

•PACCAR Financial Services pretax income of $377.7 million.

•Capital investments of $411.8 million and R&D expenses of $332.3 million.

•Cash generated from operations of $2.52 billion.

Peterbilt 589 Low Roof Sleeper Truck

Global Truck Markets

“Kenworth and Peterbilt’s customers are beginning to refresh their fleets with newer, more fuel efficient trucks,” said John Rich, PACCAR executive vice president and chief technology officer. “We are experiencing a good year of truck demand in 2026 and we anticipate this to continue next year, supported by U.S. economic growth and continued investments in infrastructure.” U.S. and Canada Class 8 truck industry retail sales in 2026 are estimated to be in a range of 240,000–260,000 vehicles. Class 8 truck industry retail sales for 2027 are expected to be in a range of 240,000–280,000 trucks.

Kenworth T680 Day Cab Truck

European truck industry registrations in the above 16-tonne segment are estimated to be in the range of 300,000–320,000 trucks this year, and a similar range in 2027. “DAF trucks’ aerodynamics, fuel-efficiency and unparalleled driver comfort improve customers’ operational performance,” said Jim Walenczak, DAF president. “DAF exhibited a comprehensive range of innovative products, such as new clean diesel- and battery-powered trucks, at the IAA Transportation 2026 commercial vehicle show in Hanover, Germany. DAF’s world-class trucks, including the International Truck of the Year 2026 DAF XD Electric and XF Electric trucks, coupled with its expansive dealer network, deliver industry-leading vehicles and aftermarket support for our customers.”

DAF XF Electric Vocational Truck

The South American above 16-tonne truck market is projected to be in a range of 100,000–105,000 trucks this year, and in a range of 105,000–115,000 vehicles in 2027. Lance Walters, PACCAR vice president, noted, “South American customers appreciate DAF and Kenworth trucks’ industry-leading durability and reliability, which are an excellent match for the continent’s tough duty-cycles.”

PACCAR Introduces PACCAR Connect for Kenworth and Peterbilt Trucks

PACCAR unveiled its next generation transportation solution, PACCAR Connect, at the American Trucking Associations’ Management Conference & Exhibition in North Carolina. PACCAR Connect is a state-of-the-art technology platform with an integrated vehicle display that combines fleet telematics systems, PACCAR truck data, customer-specific productivity applications, and Electronic Driver Logs. PACCAR Connect will be available in Kenworth and Peterbilt Class 8 trucks beginning in early 2027.

Lily Ley, PACCAR chief information officer, noted, “PACCAR Connect advances our transportation solutions strategy and will serve as a unifying platform that enhances customer productivity while creating new revenue streams for PACCAR.”

PACCAR Connect Touchscreen Display

PACCAR Parts Achieves Record Quarterly Revenues

PACCAR Parts’ third quarter 2026 revenues were a record $1.78 billion. PACCAR Parts’ nine-month revenues were $5.24 billion, compared to $5.14 billion achieved in the same period last year. The business achieved robust pretax profit of $404.4 million in the third quarter of 2026, compared to $410.0 million earned in the third quarter of 2025. PACCAR Parts achieved pretax profit of $1.22 billion in the first nine months of 2026 compared to $1.25 billion reported in the first nine months of 2025.

“PACCAR Parts’ performance reflects investments in new parts distribution centers (PDCs), transportation solutions such as Managed Dealer Inventory and Fleet Services, and the TRP all-makes brand,” said Bryan Sitko, PACCAR vice president and PACCAR Parts general manager.

Sitko added, “PACCAR will add a PDC in France to enhance its logistics infrastructure to support our DAF dealers and customers in the region. This will complement our successful PDC in Massbach, Germany, which opened in 2024.” Currently, 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.

PACCAR Financial Services Companies Achieve Strong Profits

PACCAR Financial Services (PFS) earned pretax income of $138.1 million in the third quarter this year, 9.4% higher than the $126.2 million in the third quarter of 2025. PFS achieved third quarter 2026 revenues of $558.9 million compared to $565.3 million in the same period last year. For the first nine months of 2026, PFS earned pretax income of $377.7 million compared to $370.5 million last year. Nine-month revenues were $1.65 billion compared to $1.64 billion for the same period a year ago.

Craig Gryniewicz, PACCAR vice president, said, “PFS achieved very good third quarter results due to steady finance margins and an improving used truck market. PFS is a leader in the market with innovative technologies that provide seamless credit application and loan servicing processes, and support for Kenworth, Peterbilt and DAF customers in all phases of the business cycle.”

PFS has a portfolio of 222,000 trucks and trailers, with total assets of $22.5 billion. PacLease, a major full-service truck leasing company with a fleet of 37,000 vehicles, is included in this segment. Terren Drake, PACCAR Financial Corp. president said, “PACCAR’s strong balance sheet, complemented by its A+/A1 credit ratings, enables PFS to have excellent access to the commercial paper and medium-term note markets. PFS issued $2.38 billion of medium-term notes during the first nine months of the year in support of growing market share. PFS profitably supports the sale of PACCAR trucks in 26 countries on four continents.”

Capital Investments and Research and Development

PACCAR’s consistent long-term profits, strong balance sheet, and focus on quality, technology, and innovation have enabled the company to invest $9.5 billion in world-class facilities, next generation products, and state-of-the-art technologies during the past decade. PACCAR invested $137.6 million in capital projects and $108.9 million in research and development expenses in the third quarter of 2026.

Brice Poplawski, senior vice president and chief financial officer, said, “In 2026, capital expenditures are projected to be in the range of $650–$700 million and research and development expenses are estimated to be in the range $440–$460 million. In 2027, PACCAR estimates that it will invest $650–$700 million in capital expenditures and $460–­$500 million in research and development expenses. PACCAR is continuing to invest in next generation clean diesel, hybrid and battery-electric powertrains, integrated connected vehicle services, growing its parts business and enhancing its manufacturing capabilities.”

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 third quarter earnings on October 27, 2026, at 9:00 a.m. Pacific time. Interested parties may listen to the call by selecting “Q3 Earnings Webcast” at PACCAR’s homepage. The webcast will be available on a recorded basis through November 3, 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								Nine Months Ended
		September 30								September 30
		2026				2025				2026				2025
Truck, Parts and Other:
Net sales and revenues		$	7,377.6			$	6,106.5			$	20,608.9			$	19,983.0
Cost of sales and revenues			6,311.0				5,345.4				17,716.5				17,231.8
Research and development			108.9				111.0				332.3				339.3
Selling, general and administrative			125.3				140.3				413.5				422.8
Interest and other (income) expenses, net			(26.5	)			(16.8	)			(64.1	)			299.5		(1)
Truck, Parts and Other Income Before Income Taxes			858.9				526.6				2,210.7				1,689.6
Financial Services:
Revenues			558.9				565.3				1,650.8				1,641.0
Interest and other			349.7				362.7				1,037.7				1,068.2
Selling, general and administrative			42.5				39.9				123.3				118.3
Provision for losses on receivables			28.6				36.5				112.1				84.0
Financial Services Income Before Income Taxes			138.1				126.2				377.7				370.5
Investment income			84.0				90.8				250.4				258.5
Total Income Before Income Taxes			1,081.0				743.6				2,838.8				2,318.6
Income taxes			233.5				153.6				634.0				499.7
Net Income		$	847.5			$	590.0			$	2,204.8			$	1,818.9
Net Income Per Share:
Basic		$	1.61			$	1.12			$	4.18			$	3.46
Diluted		$	1.61			$	1.12			$	4.18			$	3.45
Weighted Average Shares Outstanding:
Basic			527.1				525.9				526.9				525.9
Diluted			527.7				526.7				527.6				526.8
Dividends declared per share		$	.35			$	.33			$	1.03			$	.99

(1) Includes a $350.0 million charge related to civil litigation in Europe (EC-related claims) in the first quarter 2025.

PACCAR Inc

CONDENSED BALANCE SHEETS (Unaudited)

(in millions)

		September 30				December 31
		2026				2025
ASSETS
Truck, Parts and Other:
Cash and marketable securities		$	9,238.2			$	9,253.7
Trade and other receivables, net			2,589.7				1,981.1
Inventories, net			2,571.0				2,187.5
Property, plant and equipment, net			4,515.6				4,505.3
Other assets			3,748.0				3,605.2
Financial Services Assets			22,475.9				22,803.4
		$	45,138.4			$	44,336.2
LIABILITIES AND STOCKHOLDERS' EQUITY
Truck, Parts and Other:
Accounts payable, deferred revenues and other		$	7,649.1			$	7,890.9
Financial Services Liabilities			16,559.6				17,181.3
STOCKHOLDERS' EQUITY			20,929.7				19,264.0
		$	45,138.4			$	44,336.2
Common Shares Outstanding			526.5				525.4

PACCAR Inc

CONDENSED CASH FLOW STATEMENTS (Unaudited)

(in millions)

Nine Months Ended September 30,		2026				2025
OPERATING ACTIVITIES:
Net income		$	2,204.8			$	1,818.9
Depreciation and amortization:
Property, plant and equipment			324.1				297.3
Other assets			307.5				320.9
Net change in trade receivables, inventory and payables			(387.3	)			6.6
Net (increase) decrease in wholesale receivables on new trucks			(32.6	)			714.9
All other operating activities, net			103.8				112.9
Net Cash Provided by Operating Activities			2,520.3				3,271.5
INVESTING ACTIVITIES:
Payments for property, plant and equipment			(429.4	)			(553.1	)
Acquisitions of equipment for operating leases			(703.9	)			(467.2	)
Net decrease (increase) in financial services receivables			19.6				(860.8	)
Net increase in marketable debt securities			(130.2	)			(84.5	)
Proceeds from asset disposals and other			417.1				452.2
Net Cash Used in Investing Activities			(826.8	)			(1,513.4	)
FINANCING ACTIVITIES:
Payments of cash dividends			(1,278.0	)			(2,093.7	)
Purchases of treasury stock			(5.6	)			(35.2	)
Proceeds from stock compensation transactions			58.9				31.1
Net decrease in debt and other			(596.3	)			(590.0	)
Net Cash Used in Financing Activities			(1,821.0	)			(2,687.8	)
Effect of exchange rate changes on cash			(28.7	)			172.8
Net Decrease in Cash and Cash Equivalents			(156.2	)			(756.9	)
Cash and cash equivalents at beginning of period			6,307.9				7,060.8
Cash and cash equivalents at end of period		$	6,151.7			$	6,303.9

PACCAR Inc

SEGMENT AND OTHER INFORMATION (Unaudited)

(in millions)

		Three Months Ended								Nine Months Ended
		September 30								September 30
		2026				2025				2026				2025
Sales and Revenues:
Truck		$	5,602.4			$	4,381.4			$	15,382.0			$	14,850.3
Parts			1,780.0				1,724.6				5,237.0				5,135.4
Financial Services			558.9				565.3				1,650.8				1,641.0
Intersegment Eliminations and Other			(4.8	)			.5				(10.1	)			(2.7	)
		$	7,936.5			$	6,671.8			$	22,259.7			$	21,624.0
Pretax Profit:
Truck		$	454.5			$	102.5			$	991.2			$	776.2
Parts			404.4				410.0				1,223.7				1,253.0
Financial Services			138.1				126.2				377.7				370.5
Investment Income and Other			84.0				104.9				246.2				(81.1	)	(1)
		$	1,081.0			$	743.6			$	2,838.8			$	2,318.6

GEOGRAPHIC REVENUE

(in millions)

		Three Months Ended								Nine Months Ended
		September 30								September 30
		2026				2025				2026				2025
United States and Canada		$	5,016.5			$	3,980.4			$	13,658.7			$	13,356.2
Europe			1,703.3				1,676.5				5,298.2				4,916.3
Other			1,216.7				1,014.9				3,302.8				3,351.5
		$	7,936.5			$	6,671.8			$	22,259.7			$	21,624.0

NEW TRUCK DELIVERIES

		Three Months Ended								Nine Months Ended
		September 30								September 30
		2026				2025				2026				2025
United States and Canada			23,800				17,100				63,600				62,300
Europe			10,400				10,100				32,800				31,100
Other			5,900				4,700				15,500				17,900
			40,100				31,900				111,900				111,300

(1) Includes a $350.0 million charge related to civil litigation in Europe (EC-related claims) in the first quarter 2025.

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 U.S. generally accepted accounting principles (“GAAP”), since they exclude a charge for EC-related claims. These measures differ from the most directly comparable measures calculated in accordance with GAAP and may not be comparable to similarly titled non-GAAP financial measures used by other companies.
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 $600.0 ($446.4 after-tax) for the estimable total cost. Several courts have issued judgments; some have been favorable while others have been unfavorable and have been appealed. The Company has settled with the majority of claimants and continues to pursue appropriate resolutions. Due to higher settlement costs, the Company updated its estimate and recorded an additional pre-tax charge of $350.0 ($264.5 after-tax) for the total estimable remaining costs in Interest and other (income) expenses, net in the first quarter of 2025.
The Company utilizes these non-GAAP measures to allow investors and management to evaluate operating trends by excluding a significant charge that is not representative of company performance.
Reconciliations from the most directly comparable GAAP measures to adjusted net income (non-GAAP) and adjusted net income per diluted share (non-GAAP) are as follows:
								Nine Months Ended
($ in millions, except per share amounts)								September 30, 2025
Net income								$	1,818.9
EC-related claims, net of taxes									264.5
Adjusted net income (non-GAAP)								$	2,083.4
Per diluted share:
Net income								$	3.45
EC-related claims, net of taxes									.50
Adjusted net income (non-GAAP)								$	3.95

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