PACCAR Inc. (NASDAQ:PCAR) shares are trading lower on Tuesday. The company reported fourth-quarter earnings per share of $1.66, missing the street view of $1.69. Quarterly sales of $7.36 billion missed the analyst consensus estimate of $7.62 billion.
“Infrastructure spending is driving steady demand for Kenworth and Peterbilt’s industry-leading vocational trucks,” said Laura Bloch, PACCAR senior vice president. “The less-than-truckload segment is also performing well.”
For the fourth quarter of 2024, PACCAR reported a net income of $872.0 million. PACCAR Parts generated revenue of $1.67 billion, with a pretax income of $428.2 million.
Also Read: DeepSeek’s Low-Cost Model Reshapes AI Landscape: Experts Predict Shift To ‘Application Layer’
PACCAR Financial Services achieved a pretax income of $104.0 million. The company also reported operating cash flow totaling $1.45 billion.
PACCAR invested $796 million in capital projects and $453 million in research and development expenses in 2024.
Kevin Baney, PACCAR executive vice president, added, “Kenworth, Peterbilt and DAF trucks deliver premium quality, industry-leading fuel efficiency and low operating costs to our customers. PACCAR is investing in the next generation of diesel and alternative powertrains, and aftermarket transportation solutions, that enable customers to achieve their operational and environmental goals.”
PACCAR declared cash dividends of $4.17 per share, which included a $3.00 per share year-end cash dividend paid on January 8, 2025.
In December 2024, PACCAR announced a 10% increase to its regular quarterly cash dividend to 33 cents per share, payable on March 5, 2025.
The company estimates that it will invest $700 million-$800 million in capital projects and $460 million-$500 million in research and development expenses in 2025.
Price Action: PCAR stock is down 1.87% at $107.85 at last check Tuesday.
Read Next:
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.