Shares of Navistar International Corp. (NAV) - Get Report revved sharply higher on Tuesday, Dec. 18, after the company reported better-than-expected fiscal fourth-quarter profit on strong North American sales of its trucks and buses.

Navistar surged 14.1% to $27.21 Tuesday on the New York Stock Exchange after the company reported revenue and profit far above forecasts. Shares ended the day Monday down more than 7%, or $1.93, at $23.84.

Navistar said its net income for the quarter ended Oct. 31 rose to $188 million, or $1.89 a share, up from $135 million, or $1.36, in the comparable year-earlier period. Analysts surveyed by FactSet had expected earnings of $1.73 a share.

Revenue rose to $3.32 billion, above the FactSet consensus of $3.21 billion, driven in large part by revenue within its truck-manufacturing division, which accounted for more than two-thirds of the company's total quarterly sales.

"2018 was a very strong year for the industry, and a breakout year for Navistar," CEO Troy Clarke said in a statement. "With the industry's newest product line-up, superior quality and a strong focus on customer uptime, we expect to gain market share in 2019 for the third year in a row."

For 2019, Navistar expects revenue of $10.75 billion to $11.25 billion, though Clarke indicated that investors should be patient with the company's objectives of shifting away from being cyclically driven and focusing more on diversifying its offerings.

"While we expect 2019 to be another strong year for Navistar and the industry, it's important to recognize that Navistar as an investment is much more than just a cycle play," Clarke said. "As our ongoing improvements demonstrate, the company also has strong opportunities to benefit by recapturing market share, growing parts revenue, improving margins, generating free cash flow and further de-risking the balance sheet."

Separately, Navistar said it has appointed Gary Horvat as vice president of eMobility, focused on the company's eMobility vision and strategy.