PACCAR reports 44% profit increase as truck sales and financial services strengthen

PACCAR has reported a 44% increase in net income to $847.5m for the third quarter of 2026, supported by improved truck margins, record parts revenues and higher profits from its financial services division.

The US truck manufacturer, which owns the DAF, Kenworth and Peterbilt brands, recorded quarterly revenues of $7.94bn, up 19% from $6.67bn in the same period last year.

Net income increased from $590m in Q3 2025, while global truck deliveries totalled 40,100 units.

For the first nine months of 2026, PACCAR reported revenues of $22.26bn and net income of $2.20bn, compared with $21.62bn and $1.82bn respectively in the corresponding period last year.

“The increase in quarterly profits resulted from higher truck segment margins and strong overall business performance. PACCAR Parts reported record revenues and PACCAR Financial Services achieved very good profits.”

PACCAR Financial Services profits rise 9.4%

PACCAR Financial Services (PFS) reported third-quarter pre-tax income of $138.1m, an increase of 9.4% from $126.2m a year earlier.

Revenues for the division totalled $558.9m, compared with $565.3m in Q3 2025.

For the first nine months of 2026, PFS generated pre-tax income of $377.7m, up from $370.5m in the previous year.

The financial services division has a portfolio of 222,000 trucks and trailers, with total assets of $22.5bn. This includes PacLease, PACCAR’s full-service truck leasing business, which operates a fleet of 37,000 vehicles.

Craig Gryniewicz, Vice President at PACCAR, said: “PFS achieved very good third quarter results due to steady finance margins and an improving used truck market.”

PFS also issued $2.38bn in medium-term notes during the first nine months of 2026 to support its financing activities and market share growth.

European truck demand expected to remain stable

PACCAR forecasts European truck registrations in the above-16-tonne segment of between 300,000 and 320,000 vehicles in both 2026 and 2027.

In North America, Class 8 truck sales are expected to reach between 240,000 and 260,000 units this year, with a forecast range of 240,000 to 280,000 for 2027.

The company said fleet replacement activity was beginning to strengthen as operators invest in newer, more fuel-efficient vehicles.

PACCAR Parts also reported record quarterly revenues of $1.78bn, with pre-tax income of $404.4m.

Looking ahead, PACCAR plans to continue investing in clean diesel, hybrid and battery-electric powertrains, alongside connected vehicle technology and manufacturing capabilities.

The company has also unveiled PACCAR Connect, a new integrated vehicle technology platform for Kenworth and Peterbilt Class 8 trucks, scheduled for introduction in early 2027.