PACCAR Full-Year Report 2023

PACCAR achieved quarterly revenues of $9.08 billion in the fourth quarter of 2023, compared to the $8.13 billion reported in the same period in 2022. The company earned $1.42 billion ($2.70 per diluted share) in the fourth quarter of 2023, 54% higher than the $921.3 million ($1.76 per diluted share) earned in the fourth quarter of 2022. PACCAR achieved record revenues of $35.13 billion in 2023, compared to revenues of $28.82 billion in 2022. The company earned $4.60 billion ($8.76 per diluted share) in 2023, including a $446.4 million after-tax, non-recurring charge related to civil litigation in Europe, compared to $3.01 billion ($5.75 per diluted share) earned in 2022. Excluding the non-recurring charge, the company earned adjusted net income (non-GAAP)’ of $5.05 billion ($9.61 per diluted share) in 2023.

Financial Highlights – Full Year 2023

Highlights of PACCAR’s financial results during 2023 include:

• Record consolidated revenues of $35.13 billion.
• Record net income of $4.60 billion.
• Record After-tax return on revenues of 13.1%.
• Record PACCAR Parts revenue of $6.41 billion.