Navistar International Corp (NYSE:NAV) reported its earnings for the second quarter. 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.
Results: Net income for the company rose to $74 million (93 cents/share) vs. $43 million or 60 cents per share in the year earlier quarter. A rise of 72% from the year earlier.
Revenue: Rose 22% to $3.36 billion.
Actual vs. Wall St. Expectations: NAV fell short of the mean analyst estimate of $1.17/share. Estimates ranged from 70 cents per share to $1.77 per share.
Quoting Management: “The second quarter results represent good earnings and strong cash flow from operations while building to deliver to our 2011 and beyond objectives,” said Daniel C. Ustian, Navistar chairman, president and chief executive officer. “We continue to see increasing customer acceptance of all our engine and vehicle families, confirming we have the right strategy in place and that we will deliver full year results toward the higher side of our previous guidance.”
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).
Stock Performance: Shares of NAV are trading at $58.90 per share.
(Sources: YahooFinance, Xignite Financials)