Paccar Rises After Profit, Sales Exceed Estimates: Seattle Mover
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.
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