PACCAR Inc. (NASDAQ:PCAR) shares are trading lower on Tuesday. The company reported fourth-quarter earnings per share of $1.66, missing the street view of $1.69. Quarterly sales of $7.36 billion missed the analyst consensus estimate of $7.62 billion.

“Infrastructure spending is driving steady demand for Kenworth and Peterbilt’s industry-leading vocational trucks,” said Laura Bloch, PACCAR senior vice president. “The less-than-truckload segment is also performing well.”

For the fourth quarter of 2024, PACCAR reported a net income of $872.0 million. PACCAR Parts generated revenue of $1.67 billion, with a pretax income of $428.2 million.

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PACCAR Financial Services achieved a pretax income of $104.0 million. The company also reported operating cash flow totaling $1.45 billion.

PACCAR invested $796 million in capital projects and $453 million in research and development expenses in 2024.

Kevin Baney, PACCAR executive vice president, added, “Kenworth, Peterbilt and DAF trucks deliver premium quality, industry-leading fuel efficiency and low operating costs to our customers. PACCAR is investing in the next generation of diesel and alternative powertrains, and aftermarket transportation solutions, that enable customers to achieve their operational and environmental goals.”

PACCAR declared cash dividends of $4.17 per share, which included a $3.00 per share year-end cash dividend paid on January 8, 2025.

In December 2024, PACCAR announced a 10% increase to its regular quarterly cash dividend to 33 cents per share, payable on March 5, 2025.

The company estimates that it will invest $700 million-$800 million in capital projects and $460 million-$500 million in research and development expenses in 2025.

Price Action: PCAR stock is down 1.87% at $107.85 at last check Tuesday.

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