Seeking Alpha

adspatz's  Instablog

adspatz
Send Message
Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
My company:
SEC Live
  • Navistar Reports A Net Loss Of $247M 0 comments
    Sep 5, 2013 9:53 AM | about stocks: NAV

    Originally published at www.seclive.com

    Filing in Focus: Navistar 10-Q, September 4, 2013

    Navistar International Corporation (NYSE:NAV) announced its financial results for the third quarter of fiscal year 2013, reporting a net loss of $247M, or $3.06 per share. Last year this quarter the company earned a profit of $84M with $1.22 earnings per share. Revenue fell 12% to $2.9B, a reflection of its 15% drop in truck sales to $1.9B and a 14% drop in engine sales to $723M. Both segments sustained losses, with truck losses increasing from a $26M loss to $58M while engine sale losses grew from $47M to an $86M loss. CEO Troy Clarke commented that though the company has made progress, it falls short of volume expectations. In an attempt to offset steep losses the company has been trimming its expenses, to include workforce reductions.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Back To adspatz's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.