PACCAR Half-Year Report 2023

Financial Highlights – First Half 2023
Highlights of PACCAR’s financial results for the first six months of 2023 include:

• Net sales and revenues of $17.35 billion.
• Net income of $1.96 billion.
• Adjusted net income (non-GAAP)1 of $2.40 billion, excluding the $446.4 million nonrecurring charge related to civil litigation in Europe.
• Capital investments of $312.0 million and R&D expenses of $198.5 million.
• PACCAR Parts pretax income of $857.9 million.
• PACCAR Financial Services pretax income of $293.5 million.
• Cash generated from operations of $1.66 billion.
• Medium-term note issuances of $1.48 billion.

PACCAR reported first half net income of $1.96 billion ($3.73 per diluted share), including a $446.4 million after-tax, non-recurring charge related to civil litigation in Europe, compared to $1.32 billion ($2.52 per diluted share), earned in same period last year. Excluding the nonrecurring charge, the company earned adjusted net income (non-GAAP)1 of $2.40 billion ($4.58 per diluted share) in the first half of 2023. Net sales and financial services revenues for the first six months of 2023 were $17.35 billion, compared to $13.63 billion achieved last year.