Navistar Turns To Profit In Q4

(RTTNews) - Navistar International Corp. (NAV) announced a fourth quarter 2017 net income of $135 million, or $1.36 per share, compared to a net loss of $34 million, or $0.42 per share in the fourth quarter 2016.

Revenues in the quarter increased 26 percent, to $2.6 billion, compared to fourth quarter 2016. The revenue increase was largely driven by a 31-percent increase in the company's Core (Class 6-8 trucks and buses in the United States and Canada) volumes.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.64 per share and revenues of $2.3 billion for the fourth-quarter. Analysts' estimates typically exclude special items.

Retail deliveries of Class 6-8 trucks and buses in the United States and Canada are forecast to be in the range of 345,000 units to 375,000 units for fiscal year 2018. The company expects revenues for fiscal year 2018 to be between $9 billion and $9.5 billion. Wall Street expects revenues of $9.03 billion for fiscal year 2018.