Navistar 4Q Net Soars On Truck Business Strength |
| Wall Street Journal - Dec 20, 2011 |
Navistar International Corp.'s (NAV) fiscal fourth-quarter earnings surged as rising sales of commercial trucks motored past anxiety about weakening economic conditions.
Navistar easily beat analysts' estimates for the quarter, even as revenue came up short of expectations. Concerns about slower economic growth have tempered demand in other industrial sectors lately, but truck buyers have continued to ramp up their purchases following a prolonged industry slump that began in 2007.
"There's a lot of noise in the economy, but the truck industry is pretty resilient," Chairman and Chief Executive Dan Ustian said during a conference call Tuesday with analysts. "We expect the industry to continue its steady recovery."
Nevertheless, Ustian cautioned the Illinois company's fiscal 2012 first-quarter results will contract from the strong fourth-quarter results because of fewer days of production caused by holidays in the U.S. and South America.
"We're always going to have this challenge in the first quarter," he said. "We're going to be back-end loaded again." Navistar did not provide fiscal 2012 guidance Tuesday.
Read Full Article from Wall Street Journal
- Posted: 2011-12-20 11:16:48
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