Navistar Posts Loss as Outlook Darkens
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Navistar International Corp. said it lost nearly half a billion dollars in the last quarter as freight haulers remained reluctant to order trucks, and warned that losses this quarter would be double what Wall Street expected.
The maker of International brand trucks reported a net loss of $460 million, or $7.58 a share, contrasted with a year-earlier profit of $7 million, or 11 cents. Revenue rose 12% to $2.06 billion. Navistar forecast a first-quarter loss of $1.45 to $1.55 a share.
Navistar shares fell $3.55 to $26 on the NYSE.
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