July 23 Truck maker Paccar Inc reported
a lower quarterly profit on Tuesday and trimmed its full-year
sales forecasts for North America and Europe, where freight
carriers are postponing purchases of new vehicles.
The company, which makes Peterbilt, Kenworth and DAF brand
commercial trucks, reported a second-quarter profit of $291.6
million, or 82 cents a share, down from $297.2 million, or 83
cents a share, a year earlier.
Revenue from truck and engine sales, as well as Paccar's
in-house finance unit, fell 3.6 percent to $4.30 billion.
The Bellevue, Washington-based company said it now expects
to sell 210,000 to 230,000 "Class 8" trucks - the biggest it
makes - in North America this year, down from a previous
forecast of 210,000 and 240,000.
The company lowered it forecast for truck sales in Europe to
a range of 210,000 to 230,000, down from a previous forecast of
210,000 to 235,000.
Paccar shares were up 65 cents to $58.46 in early Nasdaq