Free Post Earnings Research Report: Navistar International’s Quarterly Revenue Advanced 15.55%

LONDON, UK / ACCESSWIRE / July 5, 2018 / If you want access to our free earnings report on Navistar International Corp. (NASDAQ: NAV), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NAV. On June 05, 2018, Navistar reported financial results for the second quarter of 2018 ending April 30, 2018. The Company surpassed analysts’ estimates for earnings but missed revenue forecasts in Q2 FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Navistar International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

Navistar’s total sales and revenues reached $2.42 billion for Q2 FY18, reflecting an increase of 15.55% from $2.10 billion in Q2 FY17. The reported revenue number fell short of analysts’ consensus estimates of $2.47 billion. The increase primarily reflects higher volumes in the Company’s Core (Class 6-8 trucks and buses in the United States and Canada) market, where charge-outs were up 17% on a y-o-y basis.

In the quarter under review, Navistar’s sales of manufactured products increased 15.46% to $2.38 billion on a y-o-y basis and Finance revenues advanced 21.21% to $40 million on a y-o-y basis.

During Q2 FY18, Navistar’s cost and expenses was $2.35 billion, 8.63% higher than the $2.17 billion reported in Q2 FY17. The Company’s cost products sold hiked 11.88% to $1.99 billion on a y-o-y basis, while selling, general, and administrative (SG&A) expenses fell 0.45% to $220 million on a y-o-y basis and engineering and product development costs jumped 15.38% to $75 million on a y-o-y basis. Navistar had an adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) of $182 million in Q2 FY18, up 180% from $65 million in Q2 FY17.

Net income attributable to Navistar for the quarter ending April 30, 2018, was $55 million compared to loss of $80 million in the same period last year. The Company’s diluted income per share for the reported quarter was $0.55, after net loss of $0.86 per share in the prior year’s same quarter. This exceeded analysts’ consensus estimates of $0.28 per share.

Navistar International’s Segment Details

The Truck segment generated revenues of $1.70 billion in Q2 FY18, up 21.89% on a y-o-y basis due to higher volumes in the Company’s Core markets, higher export truck volumes, an increase in military sales, and a shift in model mix. The segment had a profit of $42 million in Q2 FY18 compared to a loss of $56 million in Q2 FY17.

During Q2 FY18, the parts segment had revenues of $601 million, 1.48% lower than $610 million in the prior-year’s same quarter driven by lower US volumes and Blue Diamond Parts (BDP) sales, partially offset by higher Mexico volumes and parts sales related to the Fleetrite™ brand. The segment had a profit of $132 million in Q2 FY18, 13.73% lower than $153 million in Q2 FY17.

For Q2 FY18, the Global operations segment’s revenues advanced 38.57% to $97 million on a y-o-y basis primarily driven by higher engine volumes in the Company’s South America engine operations due to the improving Brazilian economy. The segment had a profit of $1 million in the reported quarter, after a loss of $7 million in the year ago corresponding quarter.

The financial services segment generated revenues of $63 million in Q2 FY18, 12.50% higher than $56 million in Q2 FY17 primarily driven by higher overall finance receivable balances in the US and Mexico. The segment’s profit advanced 26.67% to $19 million in the quarter under review from $15 million in the prior year’s same quarter.

Cash Matters

Navistar had cash and cash equivalents of $1.10 billion as on April 30, 2018, an increase of 55.81% from $706 million as on October 31, 2017. The Company had a long-term debt of $3.85 billion as on April 30, 2018, down 1.11% from $3.89 billion as on October 31, 2017.

Navistar’s cash outflow from operating activities for the six months ending April 30, 2018, was $97 million compared to $107 million in the same period last year.

Navistar incurred capital expenditures of $53 million in H1 FY18, 19.70% lower than the $66 million reported in H1 FY17. The Company’s subsidiaries paid dividends to non-controlling interest of $14 million in H1 FY18 compared to $15 million in H1 FY17.

Outlook

For full year 2018, Navistar expects industry retail deliveries of Class 6-8 trucks and buses in the United States and Canada of 380,000 units to 410,000 units, with Class 8 retail deliveries of 250,000 to 280,000 units. The Company expects revenue to be between $9.75 billion and $10.25 billion and adjusted EBITDA to be between $725 million and $775 million in FY18. Navistar’s year-end FY18 manufacturing cash is expected to be about $1.20 billion.

Stock Performance Snapshot

July 02, 2018 – At Monday’s closing bell, Navistar International’s stock advanced 2.80%, ending the trading session at $42.20.

Volume traded for the day: 493.88 thousand shares.

Stock performance in the last month – up 9.58%; previous three-month period – up 21.93%; and past twelve-month period – up 55.43%

After last Monday’s close, Navistar International’s market cap was at $4.11 billion.

Price to Earnings (P/E) ratio was at 27.80.

The stock is part of the Consumer Goods sector, categorized under the Trucks & Other Vehicles industry.

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