Paccar said Tuesday its parts business had record quarterly revenues of $709 million – a 6 percent increase compared to $666 million in the prior year.
The Parts Division posted quarterly pretax income of $109 million, an increase of 21 percent compared to $90 million earned in the second quarter last year.
The excellent results were driven by record freight tonnage and improved fleet utilization, Paccar Chairman and Chief Executive Officer Mark Pigott says.
“Paccar’s second quarter truck results reflect gradually improving industry truck sales in North America compared to the first quarter of this year,” Pigott added. “In fact, second quarter truck and parts revenues increased by 10 percent compared to the first quarter.”
Overall, Paccar posted a profit of $291.6 million in the second quarter, according to our sister site, Successful Dealer.