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October 8, 2010
Share ThisNavistar Defense, LLC, an arm of the Navistar International Corporation’s (NAV) Truck segment, has been awarded a contract worth $18.9 million by the Naval Facilities Engineering Command (NAVFAC). NAVFAC is the U.S. Navy's engineering command committed to the Navy and United States Marine Corps.
Under the contract, Navistar Defense will supply 5000-MV heavy truck tractors (HTTs) to NAVFAC, which will support the transportation needs for Navy Seabee. Production of the HTT vehicles for the contract will commence in early 2012.
In the third quarter of its fiscal year, Navistar International posted a profit of $137 million or $1.83 per share in sharp contrast to a loss of $12 million or 16 cents per share in the year-ago quarter. The improvement in profit was attributable to impressive performance by the company’s core businesses.
The company has reaffirmed its guidance of $2.75 to $3.25 per share on lower revenues of $12 billion for the fiscal year ended October 31, 2010. The company expects a 9%–12% rise in demand in the North American traditional industry to 190,000 units–195,000 units for the fiscal year.
Navistar, a Zacks #3 (Hold) Rank stock, is based in Warrenville, Illinois. It manufactures and markets commercial trucks, mid-range diesel engines, buses, military vehicles and chassis for motor homes and step-vans, and provides service parts for various trucks and trailers. The company is one of the largest truck producers after Daimler AG (DDAIF) and PACCAR Inc. (PCAR).
Read the full analyst report on "NAV"
Read the full analyst report on "DDAIF"
Read the full analyst report on "PCAR"
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