Navistar Falls To Loss In Q3 - Quick Facts

(RTTNews) - Truck maker Navistar International Corp. (NAV), Wednesday reported a net loss of $247 million or $3.06 per share for the third quarter, compared with net profit of $84 million or $1.22 per share last year. The last year results included a $188 million tax benefit, as a result of change in the estimated annual effective tax rate.

Excluding discontinued operations, the company reported loss from continuing operations of $237 million or $2.94 per share, compared with a profit of $80 million or $1.16 per share a year ago.

On average, fifteen analysts polled by Thomson Reuters expected loss per share of $1.30 for the quarter. Analysts' estimates typically exclude one-time items.

For the three-month period, the company generated revenues of $2.9 billion, 12 percent down from $3.2 billion during the corresponding quarter last year. Analysts expected the company to report revenues of $2.92 billion for the quarter. The decrease in revenue, reflects lower net sales across all classes of its core truck business, the company said.