PACCAR reveals sales growth and income drop in Q3 results
By Bradley Osborne - 1st November 2021
USA – PACCAR Inc, a truck manufacturer and parent company of brands such as DAF Trucks, Kenworth, and Peterbilt based in Bellevue, Washington, has released financial results for the third quarter of 2021. These show that PACCAR achieved sales revenue of USD5.15bn, a 4.3% growth over revenues of USD4.94bn recorded in the third quarter of the previous year. However, the company also reported a fall in its net income of 2%, from USD385.5m to USD377.7m, compared to the same period of the previous year.
Results for the first nine months of 2021 show that both sales revenue and net income are trending upwards, with approximately 28% growth in the former (from USD13.2bn to USD16.8bn) and 50% growth in the latter (from USD892.6m to USD1,340.7m).
