Paccar Rises After Profit, Sales Exceed Estimates: Seattle Mover

Paccar Inc. (PCAR) rose 5.4 percent after the maker of Kenworth and Peterbilt trucks reported fourth- quarter profit and sales that topped analysts’ estimates, boosted by sales in North America.

Paccar rose to $46.55 at 9:11 a.m. New York time before the start of regular trading. The shares, which have risen 18 percent this year through yesterday, fell 35 percent in 2011.

Profit jumped to $327.7 million, or 91 cents a share, from $169.8 million, or 46 cents, a year earlier. Sales rose 63 percent to $4.59 billion, as the Bellevue, Washington-based company more than doubled revenue in the U.S. and Canada to $2.77 billion.

The average estimate of 17 analysts was for a profit of 79 cents a share, on sales of $4.08 billion, the average of seven estimates.

To contact the reporter on this story: Mark Clothier in Southfield, Michigan, at mclothier@bloomberg.net.

To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.