PACCAR Financial Q1 Revenues Higher, Pretax Lower

PACCAR Financial Services (PFS) reported Q1/16 pretax income was $80.3 million compared to $89.0 million earned in the first quarter of 2015. PFS achieved first quarter 2016 revenues of $289.4 million compared to $284.7 million in 2015.

“Excellent portfolio performance contributed to good PFS results during the first quarter of 2016,” said Bob Bengston, PACCAR senior vice president. “Our Kenworth, Peterbilt and DAF dealers and customers appreciate PFS’s 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 22 countries on four continents,” said Todd Hubbard, PACCAR Financial president.

PFS has a portfolio of 175,000 trucks and trailers, with total assets of $12.3 billion. PACCAR Leasing, a major full-service truck leasing company in North America and Europe with a fleet of 38,000 vehicles, is included in this segment.

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