Navistar reports 1Q loss, beats Wall Street expectations
Navistar International Corp. (NAV) on Tuesday reported a loss of $42 million in its fiscal first quarter.
The Lisle-based company said it had a loss of 52 cents per share. Losses, adjusted for one-time gains and costs, came to $1.10 per share.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for a loss of $1.15 per share.
The truck and engine maker posted revenue of $2.42 billion in the period, falling short of Street forecasts. Analysts expected $2.68 billion, according to Zacks.
Navistar shares have dropped 14 percent since the beginning of the year. The stock has dropped 23 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NAV at http://www.zacks.com/ap/NAV