This has been a tough year for companies with high exposure to the heavy-duty truck industry. Navistar (NYSE:NAV) has long had its own issues, though, including a messy balance sheet, problems with its new engine, and a generalized difficulty in producing strong economic returns. Although the company's shares are undervalued relative to what it could accomplish, management has a lot yet to prove.
Mixed Results to Close the Year
Navistar missed analyst expectations on the top line, but not by a large amount. Overall growth of 28% wasn't bad, with operating revenue (excluding financing revenue) up 29%. Performance was pushed by 36% growth in trucks, while parts revenue rose 16% and engine revenue rose almost 9% on a 14% increase in shipments. Military revenue rose 36% this quarter and made up close to 20% of the quarter's revenue.
Please follow this link for more:
http://stocks.investopedia.com/stock-analysis/2011/Better-Still-Not-Good-Enough-For-Navistar-NAV-PCAR-VOVLY-CMI-OSK-ETN-KNX1221.aspx
No comments:
Post a Comment