Navistar Earnings Cheat Sheet: Misses Expectations Despite Net Income Rise

Although profit increased, Navistar International Corporation’s (NYSE:NAV) net income missed the mean analyst estimate. Navistar International Corp produces International brand commercial and military trucks, MaxxForce brand diesel engines, IC Bus(NYSE:TM) brand school and commercial buses, Monaco RV brands of recreational vehicles, and Workhorse brand chassis.

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Navistar International Earnings Cheat Sheet for the Third Quarter

Results: Net income for Navistar International Corporation rose to $1.4 billion ($18.24 per share) vs. $117 million ($1.83 per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter.

Revenue: Rose 9.8% to $3.54 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: NAV reported adjusted net income of 79 cents per share. By that measure, the company fell short of mean estimate of $1.65 per share.

Quoting Management: “The industry continued its recovery in the third quarter, and our results reflect this strengthening as well as our continued investments for future growth. We introduced new products for our growing global presence, invested in our engineering integration and heavy engine strategies, and took additional actions to reduce costs and further increase our manufacturing flexibility,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer. “As a result, we are well positioned to deliver a strong fourth quarter, achieve our adjusted full-year earnings of $5 to $6 per share, and enter 2012 with positive momentum.”

Key Stats:

The company has now fallen short of analyst estimates for the last three quarters. It missed the mark by 13 cents in the second quarter and by 6 cents in the first quarter.

The company’s revenue has now risen for two straight quarters. In the second quarter, revenue increased 20.2% to $3.3 billion from the year earlier quarter.

Competitors to Watch: PACCAR Inc (NASDAQ:PCAR), Oshkosh Corporation (NYSE:OSK), Ford Motor Company (NYSE:F), Spartan Motors, Inc. (NASDAQ:SPAR), Wabash National Corp. (NYSE:WNC), Caterpillar Inc. (NYSE:CAT), Cummins Inc. (NYSE:CMI), General Motors (NYSE:GM) and Toyota Motor Corp. (NYSE:TM).

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(Source: Xignite Financials)