Navistar International (NAV) is set to report third quarter 2018 earnings results on Thursday before the market opens. For the third quarter, analysts estimate sales to come in at $2.6 billion which would reflect a growth of over 20% from the same period last year. EPS for the quarter is estimated to be around $0.91.
For the second quarter of 2018, the company posted a 16% growth in revenues to $2.4 billion along with a net income of $55 million or $0.55 per share. The earnings results were in comparison to a net loss of $80 million or $0.86 per share in last year’s second quarter.
Last quarter, the company saw revenue growth across all its segments, barring Parts, fuelled mainly by higher volumes and mix shifts. The decline in Parts was caused partly by lower volumes in the US.
For the full year of 2018, Navistar guided for revenues of $9.75 billion to $10.25 billion. Analysts believe the company could post revenues of $9.9 billion along with earnings of $2.25 per share this year.
The company has a track record of beating earnings estimates and analysts believe this might continue for the third quarter too. Navistar is likely to post growth in revenue and earnings which could give the stock a lift unless some other negative factor catches the attention of investors.
Navistar’s shares were down 3.19% at $42.18 when the market closed Tuesday. The stock is down 1.6% thus far this year and has gained 22% in the past one year.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,