Paccar posts higher Q4 profit, lifted by European truck demand

Reuters

Jan 31 (Reuters) - Paccar Inc reported higher quarterly profit on Friday as the maker of commercial trucks and engines benefited from recovering demand in Europe.

The company, which makes vehicles sold under the Kenworth, Peterbilt and DAF brand names, posted a fourth-quarter net profit of $334.2 million, or 94 cents a share, up from $253.5, or 72 cents a share, last year.

Sales of trucks, engines and accessories as well as revenue from financial services rose 15 percent to $4.6 billion.

Analysts, on average, expected the Bellevue, Washington-based company to report a profit of 93 cents a share, according to Thomson Reuters estimates.

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