UPDATE 1-Navistar profit beats estimates on higher truck sales [Reuters]
Navistar Intl Corp (NAV)
Last navistar intl corp earnings: 3/4 06:25 am
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Source: Reuters
Navistar profit beats estimates on higher truck sales | Reuters 2 Min Read (Reuters) - Truck and engine maker Navistar International Corp topped Wall Street’s quarterly profit estimates on Thursday, as hauliers replaced more trucks and strong freight demand boosted vehicle sales. Revenue in its trucks business, its biggest, jumped 25.1 percent to $1.92 billion in the third quarter ended July 31. The Lisle, Illinois-based truck maker raised its fiscal 2018 revenue forecast to between $10.1 billion and $10.4 billion, from between $9.75 billion and $10.25 billion it previously forecast. Navistar, which posted its first full-year profit in six years in 2017, has changed management, cut costs and redesigned its products to recover from a disastrous bet it made on a costly proprietary smog-reduction system. The company also raised the low-end of the number of Class 8 trucks it expects to sell in fiscal 2018 to 260,000 units from 250,000, while keeping the high-end at 280,000 units. Orders f
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