Paccar, the world's second-largest manufacturer of big-rig trucks, said yesterday that its second-quarter profit edged up 2. 1 percent, bolstered by...
Paccar, the world’s second-largest manufacturer of big-rig trucks, said yesterday that its second-quarter profit edged up 2.1 percent, bolstered by strong revenue growth.
The Bellevue company’s profit rose to $241.5 million, or $1.39 a share, from $236.5 million, or $1.34 a share, a year ago.
Results included a one-time charge of $64 million, or 37 cents a share, for income taxes associated with the repatriation of $1.5 billion of cash from its foreign subsidiaries.
Net sales and financial services revenue climbed 27.6 percent to $3.56 billion from $2.79 billion in 2004.
Most Read Stories
- Costco is testing a new burger in Seattle, and it might remind you of Shake Shack
- Seattle No. 1 in home-price growth again; starter homes require half of income
- UW study finds Seattle’s minimum wage is costing jobs
- Elizabeth Warren: ‘The next step is single-payer’ health care
- Zillow vs. McMansion Hell: Seattle company not backing off fight with blog despite PR fiasco
Wall Street analysts expected the company to earn $1.68 a share excluding items, on anticipated revenue of $3.26 billion, according to Thomson Financial.
The company also said that year-to-date, retail sales of Class 8 trucks in the U.S. and Canada exceeded 137,000 units, up more than 33 percent over a year ago.
Paccar stock closed yesterday down $2.39, or 3.2 percent, at $72.