By Katherine Hamilton

Paccar posted lower profit and revenue in the first quarter, and said tariffs and economic uncertainty is dinging the North American truck market.

The truck maker on Tuesday posted a profit of $505.1 million, or 96 cents a share, in the three months ended March 31, compared with $1.2 billion, or $2.27 a share, a year earlier.

Paccar's earnings included a $264.5 million after-tax charge related to civil litigation in Europe. Stripping out certain one-time items such as the charge, adjusted per-share earnings were $1.46, behind the $1.58 forecast by analysts, according to FactSet.

Revenue fell 15% to $7.44 billion. Analysts surveyed by FactSet forecast revenue of $7.20 billion.

The North American truck market is being affected by uncertain economic conditions and the impact of new tariffs, executive vice president Kevin Baney said. U.S. and Canada Class 8 truck sales are expected to be in a range of 235,000 to 265,000 vehicles this year.

Current automotive tariffs exclude medium- and heavy-duty trucks. But the government opened the door last week for sectoral tariffs on those vehicles, similar to the existing 25% duty on new light vehicles such as cars.

President Trump is also expected to lower the impact of auto tariffs by preventing levies on foreign-made cars from stacking on top of other taxes he's imposed, The Wall Street Journal reported Monday.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

April 29, 2025 08:22 ET (12:22 GMT)

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