Navistar Posts Adj. Loss In Q3; Revenue Down 45% - Quick Facts

(RTTNews) - Navistar International Corp. (NAV) reported a third quarter loss per share of $0.37, compared to profit of $1.56 per share, prior year. Adjusted net loss was $8 million compared to profit of $147 million, a year ago. Adjusted EBITDA was $104 million compared to $266 million, previous year.

Third quarter revenues were $1.7 billion, down 45 percent from third quarter 2019, and Core charge outs were down 53 percent. The company said the decrease was primarily driven by the impact of COVID-19, as well as prior year comparable quarter results that were near the peak of the prior industry cycle.

Navistar finished the quarter with $1.65 billion in consolidated cash, cash equivalents and marketable securities, including $1.6 billion in manufacturing cash, cash equivalents and marketable securities.