Navistar International Corp (NYSE:NAV) shares struggled hard on Thursday and failed to finish trading in the green. The company posted a second-quarter loss as warranty costs for truck engines and a host of other charges affected the truck maker’s corporate earnings. NAV has reduced its earnings forecast for the year and is reorganizing its executive management team.
The company cut in its earnings forecast for the second straight quarter and now predicts earnings this year to range from break-even to $2 a share, compared with its reduced March forecast of $4.25 to $5.25 a share. Analysts had predicted the company to report a profit of $3.73 a share.
http://www.pt-news.org/navistar-international-corp-nysenav-reports-losses-and-cuts-outlooknav-pcar-osk-wnc/123182/
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