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PACCAR Q3 profit climbs 13.1% YOY

PACCAR Inc said its normalized net income for the third quarter amounted to $1.10 per share, compared with the S&P Capital IQ consensus estimate of $1.16 per share.

EPS climbed 13.2% year over year from 97 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $390.3 million, an increase of 13.1% from $345.3 million in the year-earlier period.

The normalized profit margin rose to 8.1% from 7.0% in the year-earlier period.

Total revenue fell on an annual basis to $4.85 billion from $4.93 billion, and total operating expenses decreased year over year to $4.22 billion from $4.38 billion.

Reported net income increased 16.2% on an annual basis to $430.6 million, or $1.21 per share, from $370.6 million, or $1.04 per share.