Navistar beats by $0.21, reports revs in-line; raises FY18 guidance
- Reports Q2 (Apr) GAAP earnings of $0.55 per share, $0.21 better than the Capital IQ GAAP Consensus of $0.34; revenues rose 15.6% year/year to $2.42 bln vs the $2.43 bln Capital IQ Consensus.
- Second quarter 2018 EBITDA was $174 million, compared to second quarter 2017 EBITDA of $47 million. Second quarter adjusted EBITDA was $182 million, compared to adjusted EBITDA of $65 million in the comparable period last year.
- Based on stronger industry conditions, the company raised its 2018 full-year guidance:
- Industry retail deliveries of Class 6-8 trucks and buses in the United States and Canada are forecast to be 380,000 units to 410,000 units, with Class 8 retail deliveries of 250,000 to 280,000 units.
- The company's adjusted EBITDA is expected to be between $725 million and $775 million.
- Sees revs of $9.75-10.25 bln (Prior $9.25-9.75 bln) vs. $9.64 bln Capital IQ Consensus Estimate.
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