NAV - Navistar Sees a Cooling Off of Sales and Earnings in Fiscal 2020
Heavy truck and bus manufacturer Navistar International (NYSE: NAV) spent most of 2019 ramping up production and capacity as market demand surged. In a sign of just how cyclical the shipping and transportation industries can be, however, Navistar's customers have apparently pulled back on ordering patterns, as the company forecast lower revenue and adjusted earnings totals for the upcoming year in fourth-quarter fiscal 2019 earnings results issued Tuesday.
Consequently, Navistar shares were trading down as much as 10% in early-afternoon trading following the release. As we review the last three months and management's outlook below, bear in mind that all comparative numbers are presented against the prior-year quarter.
Data source: Navistar International.