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Paccar Profit Rises in 3Q

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.

 

Write to Micah Maidenberg at micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

October 22, 2019 09:01 ET (13:01 GMT)

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