Truck and engine maker Navistar International Corp. (NYSE: NAV) reported first fiscal quarter earnings this morning, and the stock is sinking following a very poor performance. The company reported an adjusted EPS loss of -$2.08 compared with a consensus estimate for an EPS loss of -$0.29. Revenue came in a $3.05 billion, significantly lower than the consensus estimate of $3.73 billion.
Regarding the company’s outlook, Navistar had this to say:
Based on its first quarter 2012 results, the company updated its guidance for adjusted net income attributable to Navistar International Corporation for fiscal year ending October 31, 2012, to be between $295 and $365 million, or $4.25 to $5.25 adjusted diluted earnings per share. The company’s original estimate was $5.00-$5.75. The revenue estimate for 2012 is unchanged at $15-$16 billion, with the consensus analyst estimate at $15.28.
The previous consensus estimate had called for EPS of $5.30. On the plus side, the company said it expects truck demand in North America to rise by 5%-18% in 2012, to a range of 275,000-310,000 units.
Navistar’s shares are off more than -5% at $37.92 in a 52-week range of $30.01-$71.49.
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
