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PACCAR Q4 Profit Beats Estimates

PACCAR (PCAR) reported fourth-quarter net profit of $511.4 million or $1.47 per share compared to $405.8 million or $1.17 per share, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $1.32, for the quarter. Analysts' estimates typically exclude special items.

Truck, Parts and other net sales and revenues increased to $6.30 billion from $5.14 billion, a year ago. Quarterly revenues were $6.69 billion, compared to the $5.57 billion. Analysts on average had estimated $5.5 billion in revenue.

Harrie Schippers, chief financial officer, said, "Capital expenditures are projected to be in the range of $425-$475 million and research and development expenses are estimated to be in the range $350-$400 million in 2022."

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