As the U.S. Economy Powers Ahead, Navistar Captures Greater Market Share in 2Q; Maintaining FVE
With its refreshed product line aided by a strong North American economy, Navistar beat consensus estimates for both revenue and adjusted EPS in the second quarter. Revenue including financial services of $3.0 billion easily surpassed Street estimates of $2.7 billion. Adjusted EPS of $1.22, which excluded a $159 million EGR legal settlement, beat consensus of $0.88. More important was that Navistar increased market share sequentially in all its core markets, including an increase from 12.0% to 1...Navistar International is a holding company. Through its subsidiaries, the company is a manufacturer of International? brand commercial trucks, proprietary diesel engines, and IC Bus? (IC) brand school and commercial buses. The company's segments include: Truck, which manufactures and distributes trucks and buses along with production of proprietary engines; Parts, which provides proprietary products to support the International commercial truck, IC Bus, proprietary engine lines, and export parts business; and Global Operations, which consists of the operations of its subsidiary, International Industria Automotiva da America do Sul Ltda that manufactures and distributes mid-range diesel engines.
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