Paccar Profits Up During Third Quarter

Profits for Paccar Inc. rose 28 percent in the third quarter on record production to meet booming North American demand, the truck manufacturer reported today.

The quarterly report continues a trend for the maker of Kenworth, Peterbilt and Foden trucks and shows there was little impact from a strike in Canada, chairman Charles M. Pigott said.

“Strong truck order backlogs have allowed for near-capacity production through the first nine months of 1995,” Piggot said. “In fact, Paccar has produced a record number of medium- and heavy-duty trucks during 1995 in response to strong market demand in the U.S. and Canada.”

For the three months ending Sept. 30, Paccar reported net income of $68.3 million or $1.76 a share on nearly $1.15 billion in net sales, compared with earnings of $53.2 million or $1.37 a share on more than $1.11 billion in sales for the same period last year.