PACCAR Q3 profit jumps 44% as Kenworth and Peterbilt deliveries climb
U.S. and Canada deliveries rose to 23,800 trucks from 17,100. PACCAR sees 2027 Class 8 retail sales of 240,000 to 280,000.
PACCAR, parent of Kenworth, Peterbilt and DAF, earned $847.5 million in the third quarter of 2026, up 44% from $590.0 million a year earlier. Revenue rose 19% to $7.94 billion, the company reported on Oct. 27.
CEO Preston Feight said the profit gain came from "higher truck segment margins and strong overall business performance."
The quarter in numbers
| Q3 | 2026 | 2025 | |---|---|---| | Revenue | $7.94B | $6.67B | | Net income | $847.5M | $590.0M | | Diluted EPS | $1.61 | $1.12 | | Truck segment pretax profit | $454.5M | $102.5M | | Parts revenue | $1.78B (record) | $1.72B | | Global truck deliveries | 40,100 | 31,900 |
North America led the gain
Deliveries in the U.S. and Canada jumped to 23,800 trucks from 17,100 a year earlier. Europe delivered 10,400, up from 10,100. Other markets took 5,900, up from 4,700.
Revenue from the U.S. and Canada was $5.02 billion, up from $3.98 billion.
"Kenworth and Peterbilt's customers are beginning to refresh their fleets with newer, more fuel efficient trucks," said John Rich, PACCAR executive vice president and chief technology officer.
Market outlook
PACCAR's forecasts for U.S. and Canada Class 8 retail sales:
- 2026: 240,000 to 260,000 trucks
- 2027: 240,000 to 280,000 trucks
PACCAR expects European above-16-tonne registrations of 300,000 to 320,000 this year and a similar range in 2027.
New in-cab platform in 2027
PACCAR unveiled PACCAR Connect at the ATA Management Conference & Exhibition. It combines fleet telematics, truck data, productivity apps and electronic driver logs on an integrated in-cab display. It will be available in Kenworth and Peterbilt Class 8 trucks starting in early 2027.
Financing and used trucks
PACCAR Financial Services earned $138.1 million pretax, up 9.4%. Vice president Craig Gryniewicz pointed to steady finance margins and "an improving used truck market." The finance arm's portfolio holds 222,000 trucks and trailers, and its PacLease unit runs 37,000 vehicles.
PACCAR expects capital spending of $650 million to $700 million in both 2026 and 2027. It plans R&D of $440 million to $460 million this year and $460 million to $500 million next year, covering clean diesel, hybrid and battery-electric powertrains.