PACCAR Q1 net income $600.5M ($1.72 EPS), up 28% YoY; record parts & finance profits

PACCAR INC

2022-Q1 EPS reported $1.72 revenue$6,472,600,000

Revenue $6.47B (+11% YoY); net income $600.5M vs $470.8M; diluted EPS $1.72 vs $1.35.
Record PACCAR Parts revenue $1.39B (+20% YoY) and pretax profit $340.2M (+35% YoY).
Record PFS pretax profit $147.0M (+92% YoY) on excellent portfolio quality and high used truck prices.
Global truck market outlook: US/Canada Class 8 260k-290k units; Europe above 16t 270k-300k.
Capex projected $425-475M; R&D spending $350-400M in 2022.

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