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Navistar posts wider second-quarter loss on warranty charges
June 10, 2013 / 8:22 PM / 4 years ago

Navistar posts wider second-quarter loss on warranty charges

CHICAGO (Reuters) - Navistar International Corp (NAV.N) posted a wider quarterly loss on Monday, attributing it to higher warranty costs and lower sales volumes.

Exterior of Navistar office is seen in Lisle, Illinois, October 4, 2012. REUTERS/Jim Young

The U.S. truck and engine maker said it lost $374 million, or $4.65 a share, during the fiscal second quarter. During the comparable period last year, it posted a loss of $172 million, or $2.50 per diluted share.

Revenue fell 23 percent to $2.5 billion.

Analysts, on average, had expected the Lisle, Illinois-based company to report a loss of $1.13 a share, according to Thomson Reuters I/B/E/S.

Reporting by James B. Kelleher

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