Military and civilian truck and diesel engine maker Navistar International (NAV) - Get Report on Tuesday reported fiscal second-quarter earnings and sales that beat analysts' forecasts, and also raised its full-year guidance.
Navistar posted a net loss of $48 million, or 48 cents a share, vs. a profit of $55 million, or 55 cents a share, in the year-ago period. However, including a one-time charge of $159 million related to a class-action settlement, the company posted net income of $105 million, or $1.06 a share. Analysts polled by FactSet and been expecting earnings of 69 cents.
Revenue rose 24% to $3 billion, above FactSet consensus estimates of $2.7 billion, amid strong growth in truck sales, which grew by 35% to $2.3 billion. Second-quarter adjusted earnings before income, taxes, depreciation and amortization rose to $224 million from adjusted EBITDA of $182 million in the comparable year-ago period.
For fiscal 2019, the company raised its revenue guidance range to between $11.25 billion and $11.75 billion from between $10.75 billion and $11.25 billion - though it also cautioned that possible tariffs on Mexico could impact those figures. Analysts are currently anticipating revenue of $10.9 billion.
Shares of Navistar rose 6.8% to $33.20.