EmailStory Stocks®
Archive
Last Update: 20-Dec-11 09:43 ET
Navistar Up 9% On This Morning's Earnings Results
Navistar (NAV $39.93 +3.39) is trading sharply higher following its fiscal year fourth quarter quarter results, which were released around 7am EST.
Earlier this morning, the company reported earnings of $3.37 per share, excluding non-recurring items, $0.27 better than the Capital IQ Consensus Estimate of $3.10.
Revenues rose 28.2% year/year to $4.32 billion versus the $4.45 billion consensus.
Drivers of this performance included higher revenues and improved margins in its core North America truck business; sustained military sales; and an engine business that returned to profitability in the second half of the year. The co also saw revenues from outside of North America grow to more than $3 billion, as well as ongoing benefits from its engineering integration.
In the fourth quarter, the co saw increases in worldwide unit chargeouts in both its traditional North American and global businesses while maintaining a strong market share position. The company purchased 2.7 million shares of its stock in the fourth quarter and ended the year with a manufacturing cash balance of $1.2 billion. Navistar is on track to complete the full $175 million stock repurchase program in early 2012. "We expect the industry to continue its steady recovery."
Earlier this morning, the company reported earnings of $3.37 per share, excluding non-recurring items, $0.27 better than the Capital IQ Consensus Estimate of $3.10.
Revenues rose 28.2% year/year to $4.32 billion versus the $4.45 billion consensus.
Drivers of this performance included higher revenues and improved margins in its core North America truck business; sustained military sales; and an engine business that returned to profitability in the second half of the year. The co also saw revenues from outside of North America grow to more than $3 billion, as well as ongoing benefits from its engineering integration.
In the fourth quarter, the co saw increases in worldwide unit chargeouts in both its traditional North American and global businesses while maintaining a strong market share position. The company purchased 2.7 million shares of its stock in the fourth quarter and ended the year with a manufacturing cash balance of $1.2 billion. Navistar is on track to complete the full $175 million stock repurchase program in early 2012. "We expect the industry to continue its steady recovery."
