Navistar Registers Net Loss Of USD297mn In Q214


News: US commercial vehicle manufacturer Navistar International Corporation registered a net loss of USD297mn in Q214, compared with USD374mn in the same period a year ago. However, the company's revenues increased to USD2.7bn in the reported period, compared with USD2.5bn in Q213. The Q214 results also included intangible asset impairment charges of USD151mn and tax valuation allowance of USD29mn. In the reported period, Navistar posted a decline of USD119mn in EBITDA, which included intangible asset impairment charge of USD151mn, pre-existing warranty adjustments of USD42mn and restructuring charges of USD8mn. Consequently, the adjusted EBITDA stood at USD82mn, surpassing the company's Q214 guidance. In addition, Navistar's manufacturing cash, cash equivalents and marketable securities reached USD1.06bn at the end of Q214.

This article is tagged to:
Sector: Autos
Geography: United States