Navistar's stock set to soar after profit and sales beat, upbeat outlook

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  1. sniper-academy

    sniper-academy Administrator Staff Member

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    Shares of Navistar International Corp. were indicated up about 9% in premarket trade Tuesday, after the truck maker reported fiscal fourth-quarter profit and sales that were well above expectations and provided an upbeat outlook for the current fiscal year. Net income for the quarter to Oct. 31 was $135 million, or $1.36 a share, compared with a loss of $34 million, or 42 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 67 cents. Revenue rose 26% to $2.60 billion, beating the FactSet consensus of $2.30 billion, boosted by 31% growth in Class 6-8 trucks and buses in the U.S. and Canada. The company said it expects fiscal 2018 revenue of $9 billion to $9.5 billion, compared with the FactSet consensus of $9.08 billion. "We think 2018 is shaping up to be one of the strongest industry years this decade, and we're positioned to make it a breakout year for Navistar," said Chief Executive Troy Clarke. The stock has run up 34.5% year to date through Monday, while the S&P 500 has climbed 20.2%.

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