Navistar Q4 Loss Narrows - Quick Facts

(RTTNews) - Navistar International Corp. (NAV) reported a fourth-quarter net loss to company of $154 million, or $1.91 per share, compared to a loss of $2.77 billion, or $40.13 per share, prior year. Net loss from continuing operations was $1.90, compared to a loss of $39.67, a year ago. Loss from continuing operations before income taxes narrowed to $357 million, from a loss of $557 million, a year ago.

On average, 14 analysts polled by Thomson Reuters expected the company to report a loss per share of $1.63 for the quarter. Analysts' estimates typically exclude special items. The company's current quarter results include an income tax benefit of $220 million related to an intra-period tax allocation, a non-cash charge of $77 million related to a goodwill impairment in its North American operations and $152 million in additional pre-existing warranty reserves. Fourth quarter 2012 results included increased non-cash tax expense of $2 billion for the increase in deferred tax valuation allowance on U.S. deferred tax assets and $149 million in additional pre-existing warranty reserves.

Revenues in the quarter were $2.75 billion, down from $3.18 billion in the fourth quarter of 2012. The company said the decrease reflects lower sales across all business segments, primarily due to weaker industry conditions and lower market share during the emissions strategy transition. Analysts expected revenue of $2.90 billion for the quarter.