Market Overview

UPDATE: Navistar Posts FQ2 Loss, Lowers Full-Year Forecast

Related NAV
Top 4 Stocks In The Trucks & Other Vehicles Industry With The Highest Revenue
#PreMarket Primer: Wednesday, December 17: Sony Pictures Hackers Threaten Violence
Stocks Spring Back as Oil Turns Green (Fox Business)

Navistar International Corp (NYSE: NAV) posted a loss in the fiscal second quarter.

Navistar cut its full-year adjusted earnings forecast. It now expects earnings between breakeven and $2 per share, versus its earlier forecast of $4.25 to $5.25 per share.

Navistar reported a quarterly loss of $172 million, or $2.50 per share, versus a year-ago profit of $74 million, or $0.93 per share. Excluding items, the company lost $1.99 in the latest quarter.

Its net revenue dropped 1.7% to $3.3 billion. However, analysts were expecting earnings of $0.67 per share on revenue of $3.63 billion.

Navistar's truck segment posted a loss of $89 million, versus a $92 million profit in the year-ago period. The parts segments' profit declined 45% to $41 million.

Navistar shares dropped7.82% to $25.95 in pre-market trading.

Posted-In: lossEarnings News Guidance


Related Articles (NAV)

Around the Web, We're Loving...

Get Benzinga's Newsletters