breaking

PACCAR Lifts Profit on Surging Build Rates, Stronger Freight Market

Truck manufacturer PACCAR reported second-quarter net income of $752 million, up 4 percent year-over-year. Diluted earnings per share reached $1.43, up 6 cents from the prior year period. Rising freight rates and strong order activity drove production higher. Revenue remained essentially flat at $7.55 billion. Global truck deliveries totaled 38,700 units, down 2 percent annually, with North American shipments falling to 22,000 from 23,000 units. Record parts revenue and a 17 percent increase in truck segment pretax profit offset lower vehicle sales. PACCAR's aftermarket division generated $1.75 billion in revenue, supported by 21 global distribution centers and 2,000-plus dealer locations. The company projects 2026 Class 8 industry retail sales between 230,000 and 270,000 units, reflecting capacity constraints that are pressuring fleets to modernize aging equipment.