Navistar posts $55 million profit in second quarter

Navistar International Corporation announced this week a second quarter 2018 net income of $55 million. Navistar’s second quarter profit was up more than $130 million from the same quarter a year ago, when the company recorded a net loss of $80 million.

Revenues in the quarter were $2.4 billion, up 16 percent compared to $2.1 billion in last year’s second quarter. The increase primarily reflects higher sales volumes in the Class 6-8 truck and bus market, where chargeouts were up 17 percent, the company says.

“We had a great second quarter, delivering stronger than expected results by taking advantage of the robust market conditions,” says Troy A. Clarke, Navistar chairman, president and CEO. “The market continues to respond favorably to our new products, especially our LT Series on highway tractor and the 13-liter A26 engine, which helped us capture two points of year-over-year share growth in the Class 8 segment.”