Paccar’s stock gains as it sets revenue and net income records

Breaking News

Paccar Inc.’s stock
PCAR,
+0.86%

rose 1.5% in premarket trading on Tuesday after the truck manufacturer said its fourth-quarter revenue and profits set new records. Paccar, which owns Kenworth, Peterbilt and DAF, said its fourth-quarter net income rose to $1.42 billion, or $2.70 a share, from $921.3 million, or $1.76 a share, in the year-ago quarter. The company beat the FactSet consensus estimate of $2.25 a share. Fourth-quarter revenue climbed to $9.08 billion from $8.13 billion, well ahead of the analyst estimate of $8.48 billion.

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