PACCAR reported fourth-quarter 2024 revenues of $7.91 billion, a decrease from $9.08 billion in Q4 2023. Net income for the quarter was $872.0 million, or $1.66 per diluted share, down from $1.42 billion, or $2.70 per diluted share, in the prior-year quarter.
For the full year 2024, PACCAR achieved revenues of $33.66 billion, compared to $35.13 billion in 2023. Annual net income was $4.16 billion, or $7.90 per diluted share, a decline from $4.60 billion, or $8.76 per diluted share, in 2023, which included a $446.4 million after-tax charge related to civil litigation in Europe.
Despite the overall decline, the PACCAR Parts segment achieved record annual revenues of $6.67 billion, a four percent increase, and record pretax income of $1.71 billion. PACCAR Financial Services also reported good annual results with revenues of $2.10 billion and pretax profit of $435.6 million. The company projects 2025 U.S. and Canada Class 8 truck industry retail sales to be in the range of 250,000-280,000 units.
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