Navistar Q1 Loss Widens - Quick Facts

(RTTNews) - Navistar International Corp. (NAV) reported that its first-quarter net loss attributable to company widened to $248 million or $3.05 per share, from a loss of $123 million or $1.53 per share, prior year. Loss per share from continuing operations was $3.07, compared to a loss of $1.42 per share, a year ago.

On average, 19 analysts polled by Thomson Reuters expected the company to report a loss per share of $1.77 for the quarter. Analysts' estimates typically exclude special items.

The company noted that its first-quarter 2014 results include an unfavorable impact of $21 million due to fluctuations in foreign exchange rates and $18 million in asset impairment charges. Lower sales volumes, primarily due to the company's medium-duty emissions strategy transition and lower military sales, drove the year-over-year performance decline, which was partially offset by $67 million in reduced structural costs, the company said. Sales and revenues, net declined to $2.21 billion, from $2.64 billion, prior year. Analysts expected revenue of $2.61 billion for the quarter.