PACCAR Financial Services’ first quarter 2014 pretax income was $85.5 million compared to $80.1 million earned in the first quarter of 2013. First quarter 2014 revenues were $293.7 million compared to $293.1 million in 2013.

“During the first quarter of 2014, PFS profit increased due to growth in its portfolio,” said Bob Bengston, PACCAR senior vice president. “Dealers and customers appreciate PFS’ commitment to providing technology solutions, excellent customer service and dedicated support of the transportation industry in all phases of the business cycle.”

“PACCAR’s excellent balance sheet, complemented by its A+/A1 credit ratings, enables PFS to offer competitive retail financing to Kenworth, Peterbilt and DAF dealers and customers in 23 countries on four continents,” said Todd Hubbard, PACCAR Financial president. “A growing asset base and excellent portfolio performance are generating improved earnings.”

PFS has a portfolio of 161,000 trucks and trailers, with total assets of $11.66 billion. PACCAR Leasing, a major full-service truck leasing company in North America and Europe with a fleet of 35,000 vehicles, is included in this segment.