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PACCAR Q3 profit climbs 17.6% YOY

PACCAR Inc said its third-quarter normalized net income was $1.03 per share, compared with the S&P Capital IQ consensus estimate of $1.08 per share.

EPS rose 17.2% year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $363.6 million, a gain of 17.6% from $309.3 million in the prior-year period.

The normalized profit margin declined to 7.2% from 7.3% in the year-earlier period.

Total revenue rose 19.1% on an annual basis to $5.06 billion from $4.25 billion, and total operating expenses climbed 19.2% from the prior-year period to $4.48 billion from $3.76 billion.

Reported net income increased 16.7% from the prior-year period to $402.3 million, or $1.14 per share, from $344.8 million, or 98 cents per share.