Paccar second quarter results show 92 percent drop

Paccar’s second quarter results showed a profit decline of 92 percent to $26.5 million from $313.5 million in the second quarter last year. Shares dropped to 7 cents per share, down from 86 cents per share last year.

The company’s truck sales and revenue fell to $1.6 billion and financial services revenue fell to $243.5 million, down from $3.78 billion and $330.5 million a year ago.