Paccar Q3 Profit Outpaces Expectations
BELLEVUE, WA – Truck maker Paccar’s truck sales jumped 17 percent in the third quarter of 2014, outpacing market expectations.
The company reported healthy demand for its trucks and truck parts into Q3 and posted a profit of $371.4 million, up from $309.4 million in 2013.
Chief Executive Ron Armstrong said the company’s North American customers are benefiting from good economic growth, improving freight rates and fuel prices.
Truck sales jumped to $3.81 billion from $3.26 billion a year earlier and parts sales rose 10 percent to $784.2 million.
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