UPDATE 3-Navistar profit beats; peak demand fears hit shares [Reuters]
Navistar Intl Corp (NAV)
Last navistar intl corp earnings: 3/4 06:25 am
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Source: Reuters
Higher truck sales drive Navistar profit beat | Reuters 3 Min Read (Reuters) - Truck and engine maker Navistar International Corp topped Wall Street’s profit estimates for the fifth straight quarter on Thursday, as hauliers replaced more trucks and strong freight demand boosted vehicle sales. Most hauliers in the United States are replacing older trucks with more fuel-efficient vehicles as well as buying more trucks following the implementation of electronic logging devices aimed at monitoring driver hours. Revenue in Lisle, Illinois-based Navistar’s trucks business, its biggest, jumped 25.1 percent to $1.92 billion in the third quarter ended July 31, while revenue in its parts business rose 3.2 percent to $605 million. 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 raised its fiscal 2018 revenue fore
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