PACCAR reported second-quarter net income of $752 million, up 4 percent from a year earlier, and earnings per diluted share of $1.43, as build rates for Class 8 trucks increased on stronger orders and improved freight rates, according to FreightWaves. Revenue of $7.55 billion was essentially flat year over year, rising less than 1 percent from $7.51 billion.
Financial Performance
PACCAR (NASDAQ: PCAR) reported second-quarter earnings of $1.43 per diluted share, 6 cents higher than the prior year, FreightWaves reported. Net income of $752 million was up 4 percent year over year and 24 percent higher than the first quarter of 2026. Revenue came in at $7.55 billion, essentially flat.
Demand and Production
The company delivered 38,700 trucks globally in the quarter, down about 2 percent year over year, according to FreightWaves. In the U.S. and Canada, deliveries fell to 22,000 from 23,000 units a year earlier. PACCAR’s DAF brand delivered 11,200 trucks in Europe, up about 6 percent year over year, and European revenues rose about 7 percent to $1.79 billion.
PACCAR put U.S. and Canada Class 8 industry retail sales at 230,000 to 270,000 units for 2026. The company shipped 39,800 trucks in the U.S. and Canada through the first half, compared to 45,200 a year ago, FreightWaves reported.
“PACCAR achieved very good revenues and increased net income by 24% in the second quarter of 2026 compared to the preceding quarter,” said Preston Feight, PACCAR chief executive officer, in a news release. “Build rates increased during the quarter due to strong orders as customers benefited from PACCAR’s industry-leading trucks and improved freight rates.”
Parts Business
PACCAR Parts posted record revenues of $1.75 billion, up 2 percent year over year, with pretax income of $417.0 million, according to FreightWaves. The aftermarket business now operates 21 global distribution centers covering more than 4 million square feet. It supports over 2,000 DAF, Kenworth and Peterbilt locations plus more than 350 TRP stores.
“The improved North American freight market will increase our customers’ truck utilization, which will deliver increased parts and service business,” said Bryan Sitko, PACCAR vice president and PACCAR Parts general manager, as reported by FreightWaves.
Financial Services and Credit
PACCAR Financial Services (PFS) earned pretax income of $124.1 million on revenues of $549.7 million, both marginally ahead of last year, FreightWaves reported. The portfolio covers 222,000 trucks and trailers with total assets of $22.3 billion.
The provision for losses on receivables rose to $39.4 million from $29.2 million year over year, and to $83.5 million from $47.5 million across the first half. “PFS achieved good first half results due to its steady finance margins and an improving used truck market,” said Craig Gryniewicz, PACCAR vice president.
Capital Investment
PACCAR invested $138.7 million in capital projects and $114.3 million in research and development during the quarter, according to FreightWaves. Full-year guidance projects capital expenditures in the range of $700 to $750 million and R&D expenses between $450 and $480 million for 2026.
“PACCAR continues to invest in next generation” technologies, said Brice Poplawski, senior vice president and chief financial officer, as reported by FreightWaves.
| Metric | Q2 2026 | YoY Change |
|---|---|---|
| Net income | $752M | +4% |
| EPS (diluted) | $1.43 | +$0.06 |
| Revenue | $7.55B | +<1% |
| Global Class 8 deliveries | 38,700 | -2% |
| U.S./Canada deliveries | 22,000 | -4.3% |
| Parts revenue | $1.75B | +2% |
| PFS pretax income | $124.1M | slightly ahead |
The improved freight market and aging fleet are driving demand, according to John Rich, PACCAR executive vice president and chief technology officer. “Customers are benefiting from higher freight rates due to constrained industry freight capacity. Fleet age has increased as well, providing an opportunity for customers to refresh their fleets with newer, more fuel-efficient trucks,” FreightWaves reported.
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