Navistar International Corp (NYSE:NAV) stock was flying high Tuesday on a strong earnings report for the fourth quarter of the year.
Navistar International Corp reported earnings per share of $1.36 for the fourth quarter of 2017. This is a major increase over its losses per share of 42 cents reported in the fourth quarter of 2016. It also came in well above Wall Street’s earnings per share estimate of 64 cents for the quarter, which was a boon to NAV stock.
Net income reported by Navistar International Corp for the fourth quarter of the year was $135 million. This is an increase over the truck manufacturer’s net loss of $34 million reported in the same period of the year prior.
Navistar International Corp reported revenue of $2.60 billion for the fourth quarter of 2017. This is up from its revenue of $2.06 billion reported in the same quarter of the previous year. It also beat out analysts’ revenue estimate of $2.30 billion for the period.
“We’ll drive even greater customer consideration with our commitment to uptime and our ongoing cadence of new product launches, which will include the introduction of our new medium-duty vehicle, as well as new IC Bus offerings,” Troy Clarke, Chairman, President and CEO of Navistar International Corp, said in a statement while speaking about 2018. “At the same time, we will build on our alliance with Volkswagen Truck & Bus by investing in and collaborating on the major technologies that are reshaping our industry, including electric, connectivity and autonomous.”
NAV stock was up 9% as of Tuesday afternoon and is up 37% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.