By Micah Maidenberg
Paccar Inc. (PCAR) said its profit rose for the third quarter amid higher demand for large trucks in the U.S. and Canada.
The Bellevue, Wash.-based truck manufacturer on Tuesday reported net income of $607.9 million, or $1.75 a share, up from $545.3 million, or $1.55 a share, a year ago.
Analysts polled by FactSet were expecting earnings of $1.64 a share.
Total revenue increased to $6.37 billion from $5.76 billion a year earlier.
The company also said Tuesday that retail sales in North America of so-called Class 8 trucks are expected to range from 310,000 to 320,000 this year, the second-highest level on record.
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(END) Dow Jones Newswires
October 22, 2019 09:01 ET (13:01 GMT)Copyright (c) 2019 Dow Jones & Company, Inc.