Categories AlphaGraphs, Earnings, Industrials

Navistar’s Q4 results beat market estimates

Navistar International Corporation (NAV) surpassed market expectations on both revenue and earnings for the fourth quarter of 2018. The stock was up 9% in premarket trade on Tuesday.

Revenues grew 28% to $3.3 billion versus the same period a year ago, driven mainly by a 45% increase in the company’s core volumes, which represents sales of Class 6-8 trucks and buses in the US and Canada.

Navistar fourth quarter 2018 earnings infographic
Navistar Q4 2018 Earnings Infographic

Net income was $188 million, or $1.89 per share, compared to $135 million, or $1.36 per share, in the prior-year period.

During the quarter, Navistar launched the International CV Series line of Class 4/5 trucks and saw a year-over-year growth of 2.5 share points in heavy retail market share, which was attributable to strong sales of the International LT Series on-highway truck and the 12.4-liter A26 engine. Navistar’s IC Bus school buses also improved retail share by 1.3 share points.

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

Earlier this month, Navistar announced the sale of a majority interest in its Navistar Defense business to affiliates of Cerberus Capital Management. The agreement includes a long-term supply agreement for commercial parts and chassis. The transaction is expected to close in the first quarter of 2019, following which Cerberus will become a 70% owner and Navistar will remain a 30% owner.

For the full year of 2019, revenues are expected to be between $10.75 billion and $11.25 billion. Industry retail deliveries of Class 6-8 trucks and buses in the US and Canada are forecast to be 395,000 to 425,000 units, with Class 8 retail deliveries of 265,000 to 295,000 units. After completing the partial sale of Navistar Defense, the company will update its 2019 guidance.


Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

McCormick (MKC) expects pricing to drive sales growth for the full year of 2022

Shares of McCormick & Co. Inc. (NYSE: MKC) were up on Thursday after the company beat sales estimates for the third quarter of 2022. Adjusted earnings, however, decreased from the

STZ Infographic: Highlights of Constellation Brands’ Q2 2023 earnings results

Constellation Brands, Inc. (NYSE: STZ) announced second-quarter 2023 earnings results on Thursday, reporting a 12% increase in net sales. Comparable earnings, adjusted for one-off items, climbed 33% year-over-year to $3.17

Conagra Brands (CAG) Q1 earnings beat estimates on higher revenues

Packaged Foods company Conagra Brands Inc. (NYSE: CAG) on Thursday said its first-quarter profit increased supported by a 10% revenue growth. Earnings also came in above the consensus forecast. At $2.90

Add Comment
Viewing Highlight