{"id":68726,"date":"2018-03-13T10:40:02","date_gmt":"2018-03-13T15:40:02","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=68726"},"modified":"2018-03-14T16:00:58","modified_gmt":"2018-03-14T21:00:58","slug":"navistar-misses-estimates-for-first-quarter-remains-optimistic","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/navistar-misses-estimates-for-first-quarter-remains-optimistic\/","title":{"rendered":"Navistar posts loss but beats estimate, remains optimistic"},"content":{"rendered":"

By Richard Foster-Shelton<\/strong>
\nMedill Reports<\/em><\/p>\n

Navistar International Corp. (NYSE:NAV) based in Lisle, Ill., reported an exacerbated net loss but beat analysts\u2019 expectations, for its first quarter ended Jan. 31.<\/p>\n

The company reported a net loss of $73 million, or 74 cents per diluted share, compared with a loss of $62 million, or 76 cents per share, on fewer shares outstanding, in the year-earlier quarter. <\/p>\n

The first quarter net income included $46 million of charges resulting from the company\u2019s debt refinancing in November 2017. Excluding the debt refinancing, the indicated net loss for the quarter was $27 million, or 27 cents per diluted share. Analysts estimated a loss of 29 cents per share.<\/p>\n

The truck and bus manufacturer generated revenues of $1.9 billion, a 15 percent increase from the $1.7 billion in the same quarter the previous year. Driven by a 24 percent increase in the company\u2019s core business, Class 6-8 trucks and buses, revenue figures were in line with analyst estimates.<\/p>\n

Navistar stock closed at $38.17, up $1.13.<\/p>\n

CEO Troy Clark expressed satisfaction with the quarter. \u201cWe delivered stronger than expected first quarter results,\u201d Clark said in a conference call. \u201cWe are off to a strong start in 2018 thanks to our ability to grow Navistar\u2019s position in a strengthening market. We grew our Class 8 market share and improved our margins.\u201d<\/p>\n

Looking to the future, Chief Financial Officer Walter Borst explained that industry changes during the quarter require recalibration of full-year estimates. Borst stated, \u201cAs a result of the higher industry volumes, we\u2019re also raising our revenue expectations by $250 million to a range of $9.25 billion to S9.75 billion for the year.\u201d<\/p>\n

Bloomberg analyst Christopher Ciolino agreed: \u201cA strengthening truck market and new product introductions that are fueling market share gains are likely to drive high single-digit revenue growth at Navistar in 2018.\u201d<\/p>\n

Photo at top: Navistar supplies military and law enforcement with vehicles such as this SWAT truck. (Creative Commons)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Richard Foster-Shelton Medill Reports Navistar International Corp. (NYSE:NAV) based in Lisle, Ill., reported an exacerbated net loss but beat analysts\u2019 expectations, for its first quarter ended Jan. 31. The company reported a net loss of $73 million, or 74 cents per diluted share, compared with a loss of $62 million, or 76 cents per […]<\/p>\n","protected":false},"author":461,"featured_media":68728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[452,27,28,2951,30,3987],"tags":[4089,86,876,4090,111,4087,4088],"class_list":["post-68726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-beyond-chicago","category-business","category-general-interest","category-politicsnational-security","category-public-affairs","category-winter-2018","tag-bus","tag-earnings","tag-earnings-report","tag-first-quarter","tag-illinois","tag-navistar","tag-truck"],"yoast_head":"\nNavistar posts loss but beats estimate, remains optimistic - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/navistar-misses-estimates-for-first-quarter-remains-optimistic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Navistar posts loss but beats estimate, remains optimistic - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Richard Foster-Shelton Medill Reports Navistar International Corp. (NYSE:NAV) based in Lisle, Ill., reported an exacerbated net loss but beat analysts\u2019 expectations, for its first quarter ended Jan. 31. 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