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Why Truck Producer PACCAR Shares Are Up At the moment Why Truck Producer PACCAR (PCAR) Shares Are Up At the moment – PACCAR (NASDAQ:PCAR)



PACCAR Inc PCAR shares are buying and selling larger after it reported fourth-quarter FY23 gross sales of $8.59 billion, beating the consensus of $8.35 billion.

PACCAR Monetary Companies revenues rose to $484.8 million from $394.8 million a yr in the past. EPS of $2.70 beat the analyst consensus of $2.22.

Globally, the corporate delivered a report of 204,200 autos within the yr. The corporate witnessed Class 8 truck {industry} retail gross sales within the U.S. and Canada of 297,000 models in 2023.

PACCAR invested $698 million in capital tasks and $411 million in analysis and growth bills within the yr. 

The corporate held $8.66 billion in money and marketable securities as of December 31, 2023. Working money stream for the yr totaled $4.19 billion.

Outlook: PACCAR expects Class 8 truck {industry} retail gross sales within the U.S. and Canada to be 260,000-300,000 vehicles in 2024.

Harald Seidel, DAF president, stated, “Prospects recognize the industry-leading gasoline effectivity and driver consolation of the brand new technology of DAF vehicles. DAF vehicles have a singular aggressive benefit within the Europe truck market resulting from an modern, aerodynamic design with a spacious, luxurious cab inside.” 

PACCAR sees European above 16-tonne truck {industry} registrations for 260,000-300,000 vehicles in 2024.

The Board of Administrators just lately declared a quarterly money dividend of $0.27 per share, payable on March 6, 2024, to stockholders of report as of February 15, 2024.

The corporate paid an additional money dividend of $3.20 per share on January 4, 2024, to stockholders of report as of December 15, 2023.

Additionally Learn: Sector Shifts: Financial institution of America Analyst Forecasts Difficult 2024 for Equipment, Downgrades Cummins and GFL, Upgrades PACCAR

Value Motion: PCAR shares are up by 2.72% at $99.73 on the final test Tuesday.

Photograph by way of  Wikimedia Commons

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