Ttruck maker Paccar has reported a strong increase in third-quarter sales and revenue but said gross margins fell sequentially amid rising commodity costs, according to CBS Marketwatch.

The company reported third-quarter earnings of $US246.7 million, or $1.41 a share, up from $132.5 million, or 75 cents, in the year earlier period as revenue rose 42% to $2.92 billion, due mostly to solid economic growth in North America and a strong vehicle replacement market.

Wall Street expected earnings of $1.36 a share, on average, with sales of $2.6 billion, CBS Marketwatch said, citing Thomson First Call.

Analysts, for the most part, reportedly lauded results but said that gross margins were weaker than expected.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.