Navistar anticipates record 4Q earnings
Dec 6, 2004 10:06 AM, from staff and wire reports
Navistar International Corp reported that fourth quarter earnings should be the highest for any quarter in company history as it returned to full-year profitability for the first time since 2000. Final 2004 results are expected before filing of the company’s Form 10-K report in the first week of January.
Earnings for the fourth quarter are expected to be at least $148 million. At that level, fourth quarter earnings would equal the record $148 million reported in the fourth quarter of 1979. In the fourth quarter a year ago, the firm earned $77 million.
Consolidated sales and revenues for the fourth quarter of fiscal 2004 are expected to total $3.0 billion, compared with $2.0 billion a year earlier.
Fourth quarter results are expected to raise earnings for the full year to at least $236 million, in contrast to a net loss of $18 million in fiscal 2003.
Sales and revenues for the year ended October 31, 2004, are expected to total $9.6 billion, up from $7.3 billion a year earlier, marking the first time in the company’s history that sales and revenues topped $9 billion.
