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Navistar posts smaller-than-expected quarterly loss
September 3, 2014 / 11:26 AM / 3 years ago

Navistar posts smaller-than-expected quarterly loss

Sept 3 (Reuters) - Navistar International Corp posted a smaller-than-expected loss on Wednesday, lifted by a rebound in commercial vehicle demand in North America as well as declining warranty costs related to its big bet on a failed proprietary engine technology.

The company also said it expects industrywide deliveries of trucks “in the upper-end of our estimated 2014 range.”

The suburban Chicago-based maker of trucks, buses and military vehicles said its loss narrowed to $2 million, or 2 cents a share, for the fiscal third quarter ended July 31, from $247 million, or $3.06 a share, during the comparable quarter last year.

Sales were flat at $2.8 billion.

Analysts, on average, expected Navistar to post a loss of 66 cents a share, according to Reuters estimates. (Reporting by James B. Kelleher in Chicago; Editing by Jeffrey Benkoe)

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