PACCAR posts 44% jump in third-quarter net income as revenues rise 19% to $7.94 billion

PACCAR reported net income of $847.5 million ($1.61 per diluted share) for the third quarter of 2026, compared with $590.0 million ($1.12 per diluted share) a year earlier, on revenues of $7.94 billion versus $6.67 billion. Over the first nine months of 2026, net income reached $2.20 billion ($4.18 per diluted share) and net sales and financial services revenues were $22.26 billion. The prior-year nine-month figure of $1.82 billion ($3.45 per diluted share) included a $264.5 million after-tax non-recurring charge related to civil litigation in Europe.

PACCAR estimates U.S. and Canada Class 8 industry retail sales of 240,000–260,000 vehicles in 2026, rising to a range of 240,000–280,000 trucks in 2027. European industry registrations in the above 16-tonne segment are estimated at 300,000–320,000 trucks this year and a similar range in 2027, while the South American above 16-tonne market is projected at 100,000–105,000 trucks this year and 105,000–115,000 vehicles next year. John Rich, executive vice president and chief technology officer, said Kenworth and Peterbilt customers are beginning to refresh their fleets with newer, more fuel-efficient trucks, and that PACCAR expects the good 2026 demand to continue next year, supported by U.S. economic growth and continued infrastructure investments. Jim Walenczak, DAF president, said DAF's aerodynamics, fuel efficiency and driver comfort improve customers' operational performance, and noted DAF showed clean diesel and battery-powered trucks at the IAA Transportation 2026 show in Hanover, including the International Truck of the Year 2026 DAF XD Electric and XF Electric. Lance Walters, PACCAR vice president, said South American customers appreciate the durability and reliability of DAF and Kenworth trucks for the continent's tough duty-cycles.

PACCAR unveiled PACCAR Connect, its next-generation transportation solution, at the American Trucking Associations' Management Conference & Exhibition in North Carolina; the platform pairs an integrated vehicle display with fleet telematics systems, PACCAR truck data, customer-specific productivity applications and Electronic Driver Logs. It will be available in Kenworth and Peterbilt Class 8 trucks beginning in early 2027, and chief information officer Lily Ley said it advances the company's transportation solutions strategy and will serve as a unifying platform that enhances customer productivity while creating new revenue streams. PACCAR Parts posted record third-quarter revenues of $1.78 billion and nine-month revenues of $5.24 billion versus $5.14 billion a year earlier, though pretax profit slipped to $404.4 million from $410.0 million in the quarter and to $1.22 billion from $1.25 billion over nine months. PACCAR will add a parts distribution center in France to support DAF dealers and customers there, complementing its Massbach, Germany PDC that opened in 2024; its 21 global parts distribution centers, with over 4 million square feet, support more than 2,000 DAF, Kenworth and Peterbilt sales, parts and service locations and more than 350 TRP stores. Bryan Sitko, PACCAR vice president and PACCAR Parts general manager, said the performance reflects investments in new parts distribution centers, transportation solutions such as Managed Dealer Inventory and Fleet Services, and the TRP all-makes brand.

PACCAR Financial Services earned pretax income of $138.1 million in the third quarter, 9.4% higher than the $126.2 million reported a year earlier, on revenues of $558.9 million versus $565.3 million. For the first nine months of 2026, PFS pretax income was $377.7 million compared with $370.5 million, on revenues of $1.65 billion versus $1.64 billion. PFS holds a portfolio of 222,000 trucks and trailers with total assets of $22.5 billion and includes PacLease, a full-service leasing company with a fleet of 37,000 vehicles; it issued $2.38 billion of medium-term notes in the first nine months and supports PACCAR truck sales in 26 countries on four continents. Chief financial officer Brice Poplawski said capital expenditures are projected at $650–$700 million in 2026 and again in 2027, with research and development expenses estimated at $440–$460 million this year and $460–$500 million next year. PACCAR invested $137.6 million in capital projects and $108.9 million in R&D in the third quarter, and says it has invested $9.5 billion in facilities, next-generation products and technologies over the past decade while continuing work on clean diesel, hybrid and battery-electric powertrains.