UPDATE 3-Navistar raises truck delivery forecast; shares jump [Reuters]
Navistar Intl Corp (NAV)
Last navistar intl corp earnings: 3/4 06:25 am
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Source: Reuters
Higher sales of heavy trucks boost Navistar profit | Reuters 3 Min Read (Reuters) - Navistar International Corp ( NAV.N ) reported better-than-expected quarterly profit and revenue on Tuesday, as strong freight demand helped drive sales of its high-margin heavy-duty trucks. Deliveries of the company’s long-haul Class 8 trucks - used by the big rigs that haul freight along America’s highways - are expected to rise next year as hauliers rush to replace older trucks with more fuel-efficient vehicles to keep up with increasing U.S. freight demand. Production for these trucks is expected to rise 5 percent to 335,000 units in 2019, according to ACT Research, the industry body tracking the commercial vehicle market. Lisle, Illinois-based Navistar said it now expects to deliver between 265,000 and 295,000 of its Class 8 vehicles in 2019, from the 255,000 units to 285,000 units range it forecast earlier. While the overall truck market has remained strong, Navistar’s stock is down 45 percent
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