Business

U.S. consumer confidence approached a five-year high this month, the New York-based Conference Board reported Tuesday.

Heavy-duty truck maker Paccar said Tuesday its fourth-quarter profit rose 22% to $380.5 million or $1.52 a share, from $312.9 million or $1.22 a year earlier.

Automobile carrier Performance Transportation Services said late Monday it emerged from its voluntary Chapter 11 bankruptcy proceeding.

Truckload carrier U.S. Xpress Enterprises reported its fourth-quarter net income fell to $6.4 million or 41 cents a share, from $7.1 million or 48 cents in the previous fourth quarter.

Navistar International Corp., which has not filed financial results since September 2005, said its financcial unit will delay filing a 2006 annual report because of ongoing accounting problems, Bloomberg reported late Monday.

Components maker ArvinMeritor Inc. said its fiscal first-quarter earnings fell to $7 million or 10 cents a share, from $34 million or 49 cents a year earlier, as it said it faced challenges from the automotive, light-duty and heavy-duty truck segments.

Canadian freight railroad Canadian Pacific’s fourth-quarter net income was C$145.6 million or 92 cents a share, up from $137.1 million or 86 cents a year earlier.

Truck manufacturer Freightliner LLC plans to lay off about 800 of its 1,700 workers in Portland, Ore., and stop making Freightliner trucks in that city, the Associated Press reported.

Diesel engine maker Cummins Inc. Monday reported record sales and earnings for the fourth quarter and full-year 2006, with sales topping $3 billion in the quarter for the first time.

Tank truck carrier Quality Distribution lowered its earnings guidance for the fourth quarter and full-year 2006, due to lower seasonal demand.