Wolfe Research Downgrades PACCAR (PCAR) to Underperform
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PACCAR Achieves Record Annual Revenues and Profits
January 29, 2016 8:00 AM ESTStrong North American and European Truck Markets Drive Outstanding Results
BELLEVUE, Wash.--(BUSINESS WIRE)-- PACCAR (Nasdaq: PCAR) reported record annual revenues of $19.12 billion and record net income of $1.60 billion, an 8.4% after-tax return on revenues, for 2015. PACCAR achieved its 77th consecutive year of net income, said Ron Armstrong, chief executive officer. PACCARs financial results reflect the companys premium-quality products and services and increased North American and European truck deliveries, complemented by excellent aftermarket parts and PACCAR Financial Services results. We are pleased to achieve record annual revenues... More
