PACCAR Inc. is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt, DAF and Foden nameplates. It also provides financial services and distributes truck parts related to its principal business. In addition, the Bellevue, Washington-based company manufactures industrial winches under the Braden, Gearmatic and Carco nameplates. (Company Press Release)
PACCAR BUILDING 777 106TH AVENUE NE BELLEVUE, WA 98004, USA Phone: 4254687383 Fax: 425-468-8216 Web: http://www.paccar.com
Industry:AUTO -DOMESTIC Sector: Auto/Tires/Trucks Fiscal Year End:December Last Reported Quarter:03/31/12 Next EPS Date:07/24/12
Capital Structure Solvency and Cash Flow
The Company had cash and marketable debt securities worth $2.37 billion as of September 30, 2010 compared with $1.98 billion as of September 30, 2009. Financial Services assets dropped 8.5% from last year to value at $7.71 billion as of September 30, 2010. The Company expects earnings assets in 4Q10 to be comparable with the current levels. Long-term debt as of September 30, 2010 was $150 million at 3Q10 end versus $172.3 million at 3Q09 end.
Capital expenditures amounted to $68 million for the quarter with an objective to provide customers with industry-leading products and services, in turn increasing its market position to remain profitable. Capital expenditures in 2011 are projected in the range of $400 to $500 million.
Net cash provided by operating activities amounted to $1.16 billion during the first nine months of 2010 compared with $864 million during the corresponding period in 2009. The strong cash flow has helped PCAR continuously reinvest in the business, enhance its operating efficiency and develop innovative new products such as the PACCAR MX diesel engine.
Dividend Payment
Board of Directors approved a 33% increase to the quarterly cash dividend from $0.09 to $0.12 per share. The payment will be made on March 7, 2011 to stockholders of record on February 17, 2011.
Last edited Sun Jan 02, 2011 08:53 AM by SreelaBose (Zacks Investment Research)
Governance Social Responsibility and Employee Relations
Truck Volumes: There remains uncertainty on truck market volumes. Moreover, the continuing weakness in the truck carrier business could further delay the timing of the truck replacement cycle in the US.
Cyclical End Markets: The global commercial vehicle (truck, bus, and trailer) end markets are extremely cyclical, driven by economic and freight activity, replacement cycles, and governmental mandates and regulations.
Credit Markets and Credit Availability: The profitability of the Company's financial services business and, to a lesser extent, truck sales are dependent on the health of general credit markets and credit availability.
Forex: The Company generates approximately 35.0% of its revenue in Europe. A significant increase in the value of the U.S. dollar relative to foreign currencies could have a negative impact on reported results.
Last edited Sun Jan 02, 2011 08:56 AM by SreelaBose (Zacks Investment Research)
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Last Modification: Thursday 03 of June, 2010 08:37:24 CDT by WikiMigrationBot.
