PACCAR INC Reports Record FY2022 Q4 Earnings Results on January 24, 2023
March 28, 2023
Earnings Overview
PACCAR INC ($NASDAQ:PCAR) reported their fourth quarter earnings results for the fiscal year ending on December 31, 2022 on January 24, 2023. The company’s total revenue was USD 921.3 million, demonstrating an 80.2% growth from the same period a year prior. Net income for the quarter was USD 8129.5 million, a 21.6% increase from the previous year.
Transcripts Simplified
PACCAR Inc achieved record fourth quarter and full year 2022 financial results, with quarterly revenues of $8.1 billion and net income of $921 million. PACCAR declared dividends of $4.19 per share, and announced a 50% stock dividend. US and Canadian Class 8 truck market deliveries are forecast to be in a range of 270,000 to 310,000 vehicles. European above 16-ton truck registrations are expected to be in the range of 270,000 to 310,000.
South American above 16-ton truck market is expected to be in the range of 125,000 to 135,000 units. Truck, Parts and Other gross margins expanded to 15.9%.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Paccar Inc. More…
| Total Revenues | Net Income | Net Margin |
| 28.82k | 3.01k | 10.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Paccar Inc. More…
| Operations | Investing | Financing |
| 3.03k | -2.03k | 304.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Paccar Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 33.28k | 20.11k | 25.22 |
Key Ratios Snapshot
Some of the financial key ratios for Paccar Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.0% | 7.3% | 12.8% |
| FCF Margin | ROE | ROA |
| 5.7% | 17.6% | 6.9% |
Market Price
On Tuesday, January 24, 2023, PACCAR INC released its fourth quarter financial results for the fiscal year 2022. The company reported record earnings, with its stock opening at $105.0 and closing at $111.1, an 8.6% increase from its previous closing price of 102.2. Notably, PACCAR INC also announced a special dividend payout of $2 per share for the quarter, bringing their total dividends for the year to $4 per share. With this news, the company’s stock rose further in after-hours trading.
PACCAR INC is continuing to make strides in the industry and their strong quarter four earnings are a testament to their success. As the company moves forward into FY2023 and beyond, investors can look forward to continued growth and dividend payouts. Live Quote…
Analysis
As GoodWhale, we performed an analysis of PACCAR INC‘s wellbeing. The Star Chart classified PACCAR INC as a ‘cheetah’, a type of company that is characterized by high revenue or earnings growth but is considered less stable due to lower profitability. This suggests that investors interested in such a company may value growth potential over stability. Our analysis of PACCAR INC revealed it to be strong in assets, dividend, and profitability and medium in terms of growth. Additionally, the company achieved a health score of 9/10, indicating that it is capable of safely riding out any crisis without the risk of bankruptcy, due to its level of cashflows and debt. More…
Peers
PACCAR Inc is one of the world’s leading truck manufacturers. The company’s main competitors are Oshkosh Corp, Daimler Truck Holding AG, Caterpillar Inc. PACCAR Inc manufactures and sells a wide range of trucks and related parts and services. The company operates in three segments: Truck, Parts, and Financial Services. PACCAR Inc is headquartered in Bellevue, Washington, and has manufacturing facilities in the United States, Mexico, Australia, the Netherlands, and the United Kingdom.
– Oshkosh Corp ($NYSE:OSK)
Oshkosh Corporation is a leading manufacturer and marketer of access equipment, specialty vehicles and vehicle bodies for the primary markets of defense, concrete placement, refuse hauling, access equipment, and fire & emergency. Oshkosh Corporation manufactures, sells and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Jerr-Dan®, Frontline™, CON-E-CO®, London® and IMT®.
– Daimler Truck Holding AG ($OTCPK:DTRUY)
Daimler Truck Holding AG is a holding company that provides trucks and services for the transportation sector. The company has a market capitalization of 21.1 billion as of 2022 and a return on equity of 8.52%. Daimler Truck Holding AG operates in three segments: Daimler Trucks, Daimler Buses, and Daimler Financial Services. The company offers a range of trucks for different applications, including heavy-duty trucks, medium-duty trucks, and light-duty trucks. Daimler Truck Holding AG also provides financing, leasing, and insurance services for its customers.
– Caterpillar Inc ($NYSE:CAT)
Caterpillar Inc.’s market capitalization is 97.35 billion as of 2022. Its return on equity is 33.83%. The company manufactures construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. It also provides financing and leasing services through its subsidiaries.
Summary
PACCAR Inc. showed strong Q4 results for FY2022, with total revenue reaching USD 921.3 million and net income of USD 8129.5 million, an 80.2% and 21.6% increase year-over-year respectively. These impressive figures were reflected in the stock price, which moved up on the same day. This makes PACCAR Inc. an attractive investment option, as investors are looking for companies with strong financial positions and strong potential for growth. With increasing demand for vehicles and a diversified portfolio of products, PACCAR Inc. is well-positioned to capitalize on the industry’s opportunities and deliver consistent returns to shareholders.
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