Bloomberg News

Paccar Rises After Profit, Sales Exceed Estimates: Seattle Mover

January 31, 2012

Jan. 31 (Bloomberg) -- Paccar Inc. rose after the maker of Kenworth and Peterbilt trucks reported fourth-quarter profit and sales that topped analysts’ estimates, boosted by sales in North America.

Paccar gained less than 0.1 percent to $44.20 at the close in New York after rising as much as 5.5 percent for the biggest intraday increase since Dec. 20. The shares are up 18 percent this year after sliding 35 percent in 2011.

Profit jumped to $327.7 million, or 91 cents a share, from $169.8 million, or 46 cents, a year earlier. Sales rose 63 percent to $4.59 billion, as the Bellevue, Washington-based company more than doubled revenue in the U.S. and Canada to $2.77 billion.

The average estimate of 17 analysts was for a profit of 79 cents a share, on sales of $4.08 billion, the average of seven estimates.

--Editors: Bill Koenig, Niamh Ring

To contact the reporter on this story: Mark Clothier in Southfield, Michigan, at mclothier@bloomberg.net.

To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net.


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