Paccar profits, sales slide in third quarter while marketshare soars

Paccar reported earnings of $346.2 million Tuesday for the third quarter of 2016 compared to $431.2 million in the third quarter of 2015. Third quarter net sales and financial services revenues were $4.25 billion this year compared to $4.85 billion for the same period last year.

Peterbilt and Kenworth’s record third quarter U.S. and Canada Class 8 retail sales market share of 31 percent increased their year-to-date market share to 27.9 percent.

Class 8 truck industry retail sales for the U.S. and Canada are expected to be in a range of 215,000-225,000 vehicles in 2016 and Class 8 truck industry retail sales for the U.S. and Canada are estimated to be in the range of 200,000-230,000 vehicles in 2017.

Paccar Parts generated pre-tax profit of $138.3 million in the third quarter of 2016, compared to $145.4 million achieved in the third quarter of 2015. Third quarter 2016 revenues were $764.8 million, compared to $778.0 million earned in the third quarter last year. Paccar Parts achieved pre-tax profit of $406.3 million in the first nine months of 2016, compared to $430.0 million in the first nine months of 2015. PACCAR Parts’ nine month revenues were $2.24 billion, compared to $2.31 billion for the same period last year.