Navistar Reiterates Guidance as Net Rises - TheStreet

Navistar Reiterates Guidance as Net Rises

Navistar reiterated its full-year guidance after reporting higher earnings per share.
Author:
Publish date:


WARRENVILLE, Ill. (TheStreet) -- Navistar (NAV) - Get Report reiterated its full-year guidance after second-quarter earnngs rose.

Navistar reaffirmed its full-year earnings per share guidance range of $2.75 to $3.25 as plans for its core business remains on track. In a press release, Navistar said orders it has received so far ensure that the business is well-positioned for the rest of the year.

The company also announced it is prepared for the launch of its MaxxForce Advanced EGR exhaust gas recirculation engines, after obtaining key regulatory certifications.

Net income attributable to Navistar for the second quarter was $30 million, or 42 cents a share, compared with net income of $12 million, or 16 cents a share, the previous year. The company said it made improvements in its cost structure through reductions in material costs and rationalization of its North American plants to create cost efficiencies in certain heavy truck and school bus production lines.

>>Search for Highest Dividends by Rate or Yield

Revenue for the second quarter totaled $2.7 billion, compared with $2.8 billion in the year-ago period, as the company began shipping vehicles that include those that were part of an order Navistar received in January from the U.S. military.

-- Reported by Andrea Tse in New York

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.