Paccar stock rises after truck manufacturer tops profit mark

Paccar Inc. PCAR stock rose 4.3% in premarket trades Tuesday after the manufacturer of Kenworth and Peterbilt trucks reported fourth-quarter results that topped Wall Street expectations both on earnings and revenue. Paccar said it earned $2.64 a share, ahead of the analyst forecast of $2.21 a share, according to estimates compiled by FactSet. Paccar’s revenue of $7.73 billion beat the analyst estimate of $7.14 billion. Looking ahead, Paccar said it expects to spend $525 million to $575 million on capital projects in 2023, along with $360 million to $410 million for research and development. The company said it’s increasing…