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PACCAR(PCAR) - 2025 Q1 - Quarterly Results
PCARPACCAR(PCAR)2025-04-29 12:05

Financial Performance - PACCAR reported quarterly revenues of 7.44billioninQ12025,downfrom7.44 billion in Q1 2025, down from 8.74 billion in Q1 2024, reflecting a decrease of approximately 14.9%[1] - Net income for Q1 2025 was 505.1million(505.1 million (0.96 per diluted share), including a 264.5millionafter−taxchargerelatedtocivillitigationinEurope[1]−Adjustednetincome(non−GAAP)forQ12025was264.5 million after-tax charge related to civil litigation in Europe[1] - Adjusted net income (non-GAAP) for Q1 2025 was 769.6 million (1.46perdilutedshare),comparedto1.46 per diluted share), compared to 1.20 billion (2.27perdilutedshare)inQ12024[1][3]−NetincomeforQ12025decreasedto2.27 per diluted share) in Q1 2024[1][3] - Net income for Q1 2025 decreased to 505.1 million from 1,195.3millioninQ12024,representingadeclineofapproximately57.81,195.3 million in Q1 2024, representing a decline of approximately 57.8%[25] - Total sales and revenues for Q1 2025 were 7,441.7 million, down from 8,744.3millioninQ12024,adecreaseofabout14.98,744.3 million in Q1 2024, a decrease of about 14.9%[27] - Truck segment revenue fell to 5,225.8 million in Q1 2025 from 6,541.0millioninQ12024,adeclineofapproximately20.16,541.0 million in Q1 2024, a decline of approximately 20.1%[27] - Adjusted net income (non-GAAP) for Q1 2025 was 769.6 million, compared to 1,534.5millioninQ12024,reflectingadecreaseofapproximately50.21,534.5 million in Q1 2024, reflecting a decrease of approximately 50.2%[35] Cash Flow and Dividends - Cash and cash equivalents at the end of Q1 2025 were 5,517.7 million, down from 6,194.5millionattheendofQ12024,adecreaseofabout10.96,194.5 million at the end of Q1 2024, a decrease of about 10.9%[25] - Net cash provided by operating activities for Q1 2025 was 910.3 million, compared to 1,469.0millioninQ12024,adeclineofapproximately38.01,469.0 million in Q1 2024, a decline of approximately 38.0%[25] - Payments of cash dividends in Q1 2025 totaled 1,747.0 million, slightly lower than 1,816.5millioninQ12024,adecreaseofabout3.81,816.5 million in Q1 2024, a decrease of about 3.8%[25] - The company experienced a net decrease in cash and cash equivalents of 1,543.1 million in Q1 2025, compared to a decrease of 987.2millioninQ12024[25]InvestmentsandExpenditures−Thecompanyinvested987.2 million in Q1 2024[25] Investments and Expenditures - The company invested 171.9 million in capital projects and 115.4millioninresearchanddevelopmentinQ12025[3][14]−PACCARplanstoinvestbetween115.4 million in research and development in Q1 2025[3][14] - PACCAR plans to invest between 700-800millionincapitalexpendituresand800 million in capital expenditures and 450-480 million in R&D expenses for the full year 2025[14] Market Performance - DAF Brasil has achieved a 10% market share in the above 16-tonne truck market in Brazil, with plans for further expansion across South America[6] - The North American Class 8 truck market is projected to have retail sales between 235,000 and 265,000 trucks in 2025[4] Assets and Equity - PACCAR's total assets amounted to 42.72 billion as of March 31, 2025, with stockholders' equity at 18.02billion[23]Deliveries−Newtruckdeliveriesdecreasedto40,100unitsinQ12025from48,100unitsinQ12024,areductionofabout16.518.02 billion[23] Deliveries - New truck deliveries decreased to 40,100 units in Q1 2025 from 48,100 units in Q1 2024, a reduction of about 16.5%[31] Charges and Litigation - The company recorded a pretax charge of 350.0 million related to civil litigation in Europe, impacting overall profitability[34]