BELLEVUE (dpa-AFX) - PACCAR (PCAR) reported that its first-quarter net income decreased to $236.1 million or $0.67 per share, from $327.3 mllion or $0.91 per share, last year. First-quarter net sales and financial services revenues were $3.92 billion, compared to $4.78 billion prior year.
PACCAR said its truck segment results compared to last year reflect a decline in industry truck sales in North America due to slower economic growth. PACCAR generated steady aftermarket parts and service business and strong PACCAR Financial Services performance, the company said.
On average, 18 analysts polled by Thomson Reuters expected the company to report profit of $0.68 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $3.69 billion for the quarter.
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