Navistar International Corp. has announced it anticipates fourth-quarter earnings to be at least $148 million— which would mark a record earnings quarter. That compared to the fourth quarter a year ago, when the company earned $77 million.
The company expects to earn $236 million for the full year, compared with last year’s net loss of $18 million.
Daniel C. Ustian, Navistar chairman, president & CEO said the strong results reflect efficiencies gained in the manufacturing of trucks and engines, and record levels of engine shipments.
“We delivered on our commitments with great products and a more competitive cost structure while laying the groundwork for substantial growth,” Ustian said.
Yesterday Navistar International Corp. announces it is teaming with German OEM MAN Nutzfahrzeuge AG (MAN) to combine their manufacturing and sourcing volume and share in R&D costs.
Investment firm Bear Stearns noted that R&D costs should rise sharply as the OEM brings its new engines up to EPA’s 2007 emissions standards.