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PACCAR (PCAR)

PACCAR Inc is a global leader in the design, manufacture, and distribution of commercial trucks, aftermarket parts, and financial services. The company operates under the Kenworth, Peterbilt, and DAF nameplates, offering a range of light-, medium-, and heavy-duty trucks . In addition to trucks, PACCAR provides aftermarket parts for commercial vehicles and offers finance and leasing products related to its core offerings . The company also engages in the manufacturing and marketing of industrial winches, although this is a minor part of its business .

  1. Truck - Designs, manufactures, and distributes high-quality light-, medium-, and heavy-duty commercial trucks under the Kenworth, Peterbilt, and DAF nameplates.
  2. Parts - Distributes aftermarket parts for trucks and related commercial vehicles, enhancing vehicle performance and longevity.
  3. Financial Services - Provides finance and leasing products and services related to PACCAR products, supporting customers with tailored financial solutions.
  4. Other - Manufactures and markets industrial winches, contributing a minor portion to the company's overall sales and revenues.

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NamePositionExternal RolesShort Bio

R. Preston Feight

ExecutiveBoard

Chief Executive Officer

None

CEO since 2019, with 26 years at PACCAR. Previously EVP, President of DAF Trucks, and GM of Kenworth.

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A. Lily Ley

Executive

Vice President and CIO

None

VP and CIO since 2017. Oversees PACCAR's IT strategy.

Brice J. Poplawski

Executive

Vice President and Controller

None

VP and Controller since 2023. Over 25 years at PACCAR in financial leadership roles.

C. Michael Dozier

Executive

Executive Vice President

None

EVP since 2023. Over 34 years at PACCAR, previously SVP and GM of Kenworth. Key contributor to truck innovations.

Darrin C. Siver

Executive

Executive Vice President

None

EVP since 2023. Played a key role in PACCAR's success in global truck markets, including South America.

Harald P. Seidel

Executive

Vice President and President of DAF Trucks

None

VP and President of DAF Trucks since 2022. Led DAF to record market share and award-winning truck launches.

Harrie C.A.M. Schippers

Executive

President and Chief Financial Officer

None

President and CFO since 2018. Extensive experience in global finance and operations.

Harry M.B. Wolters

Executive

Vice President and GM Global Powertrain & Electrification

None

VP since 2022. Former President of DAF Trucks, led innovative truck launches.

James W. Walenczak

Executive

Vice President and GM of Kenworth

None

VP and GM of Kenworth since 2024. Former Assistant GM of Sales and Marketing at Kenworth.

Jason P. Skoog

Executive

Vice President and GM of Peterbilt

None

VP and GM of Peterbilt since 2018. Focused on operational excellence and market growth.

John N. Rich

Executive

Senior Vice President and CTO

None

SVP and CTO since 2024. Former VP and CTO, with prior leadership roles at Ford Motor Company.

Kevin D. Baney

Executive

Senior Vice President

None

SVP since 2024. Former VP and GM of Kenworth, with a focus on innovation and market growth.

Laura J. Bloch

Executive

Vice President and GM of PACCAR Parts

None

VP and GM of PACCAR Parts since 2022. Contributed to record profitability growth in the division.

Michael K. Walton

Executive

Vice President and General Counsel

None

VP and General Counsel since 2020. Oversees PACCAR's legal and compliance functions.

Paulo H. Bolgar

Executive

Vice President and Chief HR Officer

None

VP and CHRO since 2022. Former HR leader at Baxter International.

Todd R. Hubbard

Executive

Vice President of Global Financial Services

None

Retiring February 2025. VP since 2019, with significant growth in PACCAR Financial Services.

Barbara B. Hulit

Board

Director

Director at Envista Holdings and Novanta Corporation

Director since 2023. Former CEO of Fortive's Advanced Healthcare Solutions segment.

Brice C. Hill

Board

Director

CFO of Applied Materials

Director since 2024. Former CFO of Xilinx and senior executive at Intel.

Cynthia A. Niekamp

Board

Director

Director at Ball Corporation

Director since 2023. Former SVP at PPG Industries and executive at BorgWarner.

Dame Alison J. Carnwath

Board

Director

Senior Adviser to Evercore Partners; Director at Coller Capital, EG Group, ASDA Group, BASF, and Zurich Insurance Group

Director since 2005. Extensive experience in international finance and corporate governance.

Franklin L. Feder

Board

Director

Director at Minerals Technologies, Companhia Brasileira de Alumínio, AES Tietê Energia, and Prumo Logística

Director since 2018. Former CEO of Alcoa Latin America.

Ganesh Ramaswamy

Board

Director

EVP of Industrial & Energy Technology at Baker Hughes

Director since 2021. Former executive at Johnson Controls and Danaher.

Gregory M. E. Spierkel

Board

Director

Director at Schneider Electric

Director since 2008. Former CEO of Ingram Micro.

Kirk S. Hachigian

Board

Director

Chairman of Allegion PLC; Director at NextEra Energy and L3Harris Technologies

Director since 2008. Former CEO of JELD-WEN and Cooper Industries.

Luiz A. S. Pretti

Board

Director

Chairman of Votorantim Cimentos

Director since 2024. Former CEO of Cargill Brasil.

Mark A. Schulz

Board

Lead Director

President of M.A. Schulz & Associates; Founding Partner at Fontinalis Partners; Director at NWTN Inc.

Director since 2012. Former President of International Operations at Ford.

Mark C. Pigott

Board

Executive Chairman of the Board

None

Former CEO and Chairman (1997-2014), currently Executive Chairman since 2014. Extensive knowledge of the global commercial vehicle industry.

Pierre R. Breber

Board

Director

None

Director since 2024. Former CFO of Chevron.

Roderick C. McGeary

Board

Director

Director at Raymond James Financial

Director since 2012. Former Chairman of BearingPoint and senior executive at KPMG.

  1. Your outlook for Europe next year suggests a potential decline in retail sales, and this year your deliveries have been down more than expected; do you plan to deliver to demand or continue to underproduce in Europe next year, and how should we think about your production strategy?

  2. With the normalization of the used truck market in North America and continued softness in Europe, how is the spread between new and used truck prices evolving, and does this present challenges or opportunities for you in 2025?

  3. Considering your significant investments in manufacturing capacity, how much additional capacity can you bring on to serve the U.S. market, and will this increased capacity be available in 2025 or more towards 2026?

  4. As we approach the 2027 emissions standards and potential pre-buy activities, is there any reason PACCAR cannot deliver above-average incremental margins like you did prior to the recent downturn, especially with your new product introductions?

  5. Regarding the bottlenecks at body builders affecting vocational truck deliveries, is the current level of trucks awaiting body builders hindering your ability to grow the vocational business in 2025, and what steps are you taking to alleviate this bottleneck?

Research analysts who have asked questions during PACCAR earnings calls.

Jamie Cook

Truist Securities

5 questions for PCAR

Also covers: ACM, AGCO, AME +17 more

Jeffrey Kauffman

Vertical Research Partners

5 questions for PCAR

Also covers: ARCB, CHRW, CMI +11 more

Jerry Revich

Goldman Sachs Group Inc.

5 questions for PCAR

Also covers: AGCO, ALSN, ATMU +28 more

Kyle Menges

Citigroup

5 questions for PCAR

Also covers: AGCO, ALSN, CAT +9 more

Michael Feniger

Bank of America

5 questions for PCAR

Also covers: ACM, AGCO, CAT +11 more

Scott Group

Wolfe Research

5 questions for PCAR

Also covers: AAL, ALGT, ALK +35 more

Stephen Volkmann

Jefferies

5 questions for PCAR

Also covers: AGCO, CARR, CAT +20 more

Steven Fisher

UBS

5 questions for PCAR

Also covers: ACM, AGCO, BBCP +22 more

Tami Zakaria

JPMorgan Chase & Co.

5 questions for PCAR

Also covers: ADM, AGCO, ALSN +22 more

Angel Castillo Malpica

Morgan Stanley

3 questions for PCAR

Also covers: AGCO, ALSN, CAT +14 more

David Raso

Evercore ISI

3 questions for PCAR

Also covers: CAT, CMI, CNH +11 more

Robert Wertheimer

Melius Research

3 questions for PCAR

Also covers: ALSN, AME, CAT +12 more

Timothy Thein

Raymond James

3 questions for PCAR

Also covers: AGCO, ALSN, CAT +14 more

Angel Castillo

Morgan Stanley

2 questions for PCAR

Also covers: ALSN, CMI, CNH +10 more

Chad Dillard

AllianceBernstein

2 questions for PCAR

Also covers: CAT, CMI, DE +6 more

Charles Albert Dillard

Bernstein

2 questions for PCAR

Also covers: CAT, CMI, DE +6 more

Nick Housden

RBC Capital Markets

2 questions for PCAR

Walter Piecyk

LightShed Partners

2 questions for PCAR

Also covers: AMX, CCOI, GSAT +4 more

Max Liss

Kepler Cheuvreux

1 question for PCAR

Program DetailsProgram 1
Approval DateDecember 4, 2018
End Date/DurationN/A
Total additional amount$500.0 million
Remaining authorization amount$390.0 million as of September 30, 2024
DetailsReturn value to shareholders

Competitors mentioned in the company's latest 10K filing.

CompanyDescription

The company purchases engines from this competitor for its trucks, highlighting its significant role as a supplier. The company has a long-term agreement with this competitor to ensure continuity of supply. A loss of supply from this competitor could materially affect the company's production.

The company purchases a significant portion of its transmissions from this competitor under a long-term agreement to ensure supply continuity. A disruption in supply from this competitor could materially impact the company's truck production.

ZF Friedrichshafen AG

The company relies on this competitor for a significant portion of its transmissions, with a long-term agreement in place to secure supply. A loss of supply from this competitor could materially affect the company's operations.

The company sources a significant portion of North America stampings used for cabs from this competitor under a long-term agreement. A disruption in supply from this competitor could materially impact the company's truck production.

Renault V.I.

The company's DAF subsidiary purchases fully assembled cabs from this competitor for its European light- and medium-duty product line under a joint product development and long-term supply contract. Sales of trucks manufactured with these cabs accounted for approximately 3% of consolidated revenues in 2023.

Daimler Truck Holdings AG

This competitor is part of the company's revised peer group for stockholder return performance comparison. It is identified as a direct competitor and publicly traded company.

Iveco Group N.V.

This competitor is included in the company's revised peer group for stockholder return performance comparison, reflecting its role as a direct competitor.

This competitor is part of the company's revised peer group for stockholder return performance comparison, representing a more aligned peer.

This competitor is included in the company's peer group for stockholder return performance comparison, reflecting its relevance in the industry.

This competitor is part of the company's peer group for stockholder return performance comparison, highlighting its significance in the industry.

This competitor is included in the company's peer group for stockholder return performance comparison, indicating its relevance in the industry.

This competitor is part of the company's peer group for stockholder return performance comparison, reflecting its role in the industry.

TRATON SE

This competitor is included in the company's peer group for stockholder return performance comparison, representing a significant player in the industry.

AB Volvo

This competitor is part of the company's peer group for stockholder return performance comparison, highlighting its importance in the industry.

NameStart DateEnd DateReason for Change
Ernst & Young LLP1945 PresentCurrent auditor

Recent press releases and 8-K filings for PCAR.

PACCAR Reports Strong Q1 2025 Financial Results & Strategic Updates
·$PCAR
Earnings
Management Change
Guidance Update
Legal Proceedings
New Projects/Investments
  • Q1 2025 Performance: PACCAR reported consolidated revenues of $7.44 billion with GAAP net income of $505.1 million (after a $264.5 million after-tax litigation charge) and adjusted net income of $769.6 million.
  • Record Parts Division: Achieved record Parts revenue of approximately $1.7 billion and parts pretax income of about $427 million, reflecting strong operational performance.
  • Strategic Investments: Invested $171.9 million in capital projects and incurred $115.4 million in R&D expenses, underlining a commitment to next-generation products.
  • Q2 Guidance: Expecting gross margins in the 13%-14% range amid ongoing tariff uncertainties and focused cost management.
  • Leadership Changes: Announced the retirement of Harrie Schippers after a 39-year career, with Kevin Baney taking charge of PACCAR Financial Services and Brice promoted to CFO.
Apr 29, 2025, 3:01 PM
PACCAR Inc Announces Leadership Changes and Retirement
·$PCAR
CFO Change
Management Change
  • Harrie C. A. M. Schippers, the President and CFO, will retire effective June 2, 2025 after 39 years of service.
  • Brice J. Poplawski is promoted to Senior Vice President and CFO effective June 2, 2025, and Kevin D. Baney assumes additional responsibilities for PACCAR Financial Services and Investor Relations.
Apr 2, 2025, 12:00 AM