Categories Analysis, Earnings, Industrials

Earnings Preview: Strong truck demand expected to fuel Navistar’s Q4 growth

Navistar International (NAV) is scheduled to report earnings results for the fourth quarter of 2018 on Tuesday, December 18 before the market opens. Analysts expect the company to report earnings of $1.68 per share on revenue of $3.2 billion. Navistar has consistently topped earnings expectations over the past four quarters and can be expected to continue this trend.

Navistar has been gaining market share in the trucks segment and the increasing demand for trucks is likely to benefit the company this quarter. The truck manufacturer is likely to gain from its product portfolio as well as new product launches. The company’s truck segment is also expected to benefit from favorable economic and industry conditions.

However, during the fourth quarter Navistar might face challenges from higher costs which are likely to hurt margins. Despite the challenges, the overall sentiment surrounding the quarterly earnings appear to be positive.

In the third quarter of 2018, Navistar beat analysts’ expectations on earnings but missed the mark on revenues. Revenues rose 18% year-over-year to $2.6 billion, driven mainly by a 26% increase in core market volumes. Earnings grew to $1.71 per share from $0.38 per share in the year-ago period.

Earnings: Navistar reports solid growth in revenue and profits for Q3

During the third quarter, based on strong industry conditions, Navistar raised its full-year 2018 revenue guidance to a range of $10.1 billion to $10.4 billion. The industry retail deliveries of Class 6-8 trucks and buses in the US and Canada are forecast to be 390,000 to 410,000 units, with Class 8 retail deliveries of 260,000 to 280,000 units in 2018.

Navistar’s stock has dropped 39% so far this year while over the past one month, shares have fallen 14%.

 

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