Navistar Falls on Lousy Earnings Report (NAV)
Truck and engine maker Navistar International Corp. (NYSE: NAV) reported first fiscal quarter earnings this morning, and the stock is sinking following a very poor performance. The company reported an adjusted EPS loss of -$2.08 compared with a consensus estimate…
Truck and engine maker Navistar International Corp. (NYSE: NAV) reported first fiscal quarter earnings this morning, and the stock is sinking following a very poor performance. The company reported an adjusted EPS loss of -$2.08 compared with a consensus estimate for an EPS loss of -$0.29. Revenue came in a $3.05 billion, significantly lower than the consensus estimate of $3.73 billion.
Regarding the company’s outlook, Navistar had this to say:
Based on its first quarter 2012 results, the company updated its guidance for adjusted net income attributable to Navistar International Corporation for fiscal year ending October 31, 2012, to be between $295 and $365 million, or $4.25 to $5.25 adjusted diluted earnings per share. The company’s original estimate was $5.00-$5.75. The revenue estimate for 2012 is unchanged at $15-$16 billion, with the consensus analyst estimate at $15.28.
The previous consensus estimate had called for EPS of $5.30. On the plus side, the company said it expects truck demand in North America to rise by 5%-18% in 2012, to a range of 275,000-310,000 units.
Navistar’s shares are off more than -5% at $37.92 in a 52-week range of $30.01-$71.49.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
