Paccar Inc. has reported its financial results for the full year of 2025, and the figures show both successes and challenges for the company. The company's annual revenues for 2025 stood at $28.44 billion, a notable decrease from the $29.66 billion reported in the previous year. Meanwhile, the net income for the year was $2.38 billion, representing a significant drop from the $3.36 billion achieved in the prior period. Adjusted net income (non-GAAP) for 2025 came in at $2.64 billion, marking a decrease from the $3.51 billion reported in the previous year.
In the fourth quarter of 2025, Paccar saw quarterly revenues of $6.82 billion, a decline from the $7.91 billion reported in the same period in 2024. The company earned $556.9 million ($1.06 per diluted share) in the fourth quarter of 2025, down from the $872.0 million ($1.66 per diluted share) earned in the fourth quarter of 2024.
The company's Paccar Parts division achieved record quarterly revenues of $1.74 billion, representing a 4% increase from the $1.67 billion reported in the fourth quarter of 2024. However, the pretax income for Paccar Parts in the same period decreased to $415.0 million, down from $428.2 million earned in the fourth quarter of 2024. For the full year, Paccar Parts achieved record annual revenues of $6.87 billion, a 3% increase from the $6.67 billion achieved in 2024. The division's annual pretax income was $1.67 billion, a decrease from the $1.71 billion earned in 2024.
Paccar Financial Services (PFS) also reported its financial achievements, with record revenues of $568.7 million in the fourth quarter of 2025, up from $544.3 million in the same period of 2024. PFS's pretax income for the quarter was $114.9 million, an increase from the $104.0 million earned in the fourth quarter of 2024. PFS's annual revenues for 2025 were a record $2.21 billion, up from the $2.10 billion achieved in 2024. The division's pretax profit for the year was $485.4 million, an increase from the $435.6 million earned in 2024.
These financial results come amidst various business highlights for Paccar, including the delivery of 144,200 vehicles worldwide in 2025, and the introduction of next-generation battery-electric trucks by Kenworth and Peterbilt. The company's global truck markets also saw achievements, with Kenworth and Peterbilt achieving excellent U.S. and Canada class 8 retail sales market share of 30% in 2025.
Paccar's investments in capital projects and research and development expenses in 2025 totaled $728 million and $446 million, respectively. Looking ahead, the company estimates that it will invest $725-$775 million in capital projects and $450-$500 million in research and development expenses in 2026.
Today the company's shares have moved -0.46% to a price of $121.36. For more information, read the company's full 8-K submission here.
