NAV - Navistar International Corporation

NYSE - NYSE Delayed Price. Currency in USD
15.30
-1.33 (-8.00%)
At close: 4:02PM EDT
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Previous Close16.63
Open16.32
Bid15.01 x 1200
Ask16.51 x 800
Day's Range15.10 - 16.59
52 Week Range15.01 - 38.00
Volume835,737
Avg. Volume1,104,668
Market Cap1.522B
Beta (5Y Monthly)2.00
PE Ratio (TTM)8.74
EPS (TTM)1.75
Earnings DateJun 01, 2020 - Jun 07, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateOct 23, 2001
1y Target Est33.00
  • Navistar (NAV) Down 52.6% Since Last Earnings Report: Can It Rebound?
    Zacks

    Navistar (NAV) Down 52.6% Since Last Earnings Report: Can It Rebound?

    Navistar (NAV) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • Thomson Reuters StreetEvents

    Edited Transcript of NAV earnings conference call or presentation 4-Mar-20 2:00pm GMT

    Q1 2020 Navistar International Corp Earnings Call

  • PR Newswire

    Navistar Provides Manufacturing Operations Update

    Navistar International Corporation (NYSE: NAV) makes changes in its manufacturing operations in response to the continued impacts of COVID-19.

  • Navistar Recalls 13,570 Trucks For Brake Light Malfunction
    Benzinga

    Navistar Recalls 13,570 Trucks For Brake Light Malfunction

    Navistar International Corp. (NYSE: NAV) is recalling 13,570 newer model LT and HX heavy-duty trucks because a brake light malfunction could confuse following drivers about whether an affected truck is slowing or not.Stress on the solder joints could create a poor or intermittent electrical contact. A poor electrical contact could result in inoperative brake lights or brake lights that stay on. The cause is a poor solder joint between the switch terminals and switch internal circuit, Navistar said.International LT models from 2018 and 2019 built between March 12, 2018, and April 30, 2019, as well as 2018-2021 HX models built between Jan. 3, 2017, and March 7, 2020, are involved in the recall. About one in five recalled trucks is believed to have the issue.The malfunction would cause a warning light to illuminate, suggesting a problem with the antilock brakes.The company did not report any crashes or injuries related to the condition in its defect report to the National Highway Traffic Safety Administration (NHTSA).Navistar became aware of the issue in September based on a review of company warranty reports that showed an increase in claims for the brake light switch.Owners and dealers will be told about the recall by mail on May 18. Dealers will replace the suspect brake light switch with a revised switch at no cost. Navistar manufacturing began using a brake light switch with a redesigned assembly process on Dec. 2, 2019. The 2021 HX models were recalled from the start of production.The NHTSA recall number is 20V-160.See more from Benzinga * Qatar Airways Throws Passenger Planes Into China Cargo Schedule * More Cargo Chaos Looms As Carriers Slash Ocean Services * Is Freight Headed For A Cliff? (With Video)(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Daimler Trucks Plans Addition Of 700 Service Bays
    Benzinga

    Daimler Trucks Plans Addition Of 700 Service Bays

    Daimler Trucks North America (DTNA) is expanding its dealer network with 700 additional service bays in more than 40 locations across 30 U.S. states and Canadian provinces."This expansion represents an investment by DTNA's dealer partners towards a mutual commitment to a 24-hour-or-less repair turn-around," said Kevin Bangston, DTNA general manager of Dealer Network Development. The service expansion comes after two of the best sales years for new equipment in recent memory. New trucks tend to need less routine maintenance, but manufacturers are going all in to increase the number of service locations while reducing the time a truck spends there.Manufacturers also are making increased use of over-the-air software updates for computer reprogramming and specific parameters fleets want, such as limiting top speed.DTNA's new service bays increase potential network capacity by up to 3.5 million service hours per year. Navistar's visionDTNA's announcement Monday comes about a year after Navistar International Corp. (NYSE: NAV) announced a partnership with Love's Travel Stops & Country Stores to add 320 Love's and Speedco locations and more than 1,000 technicians to its International service network. By adding strategic planning and a technology approach to its expansion, Navistar expects to lead the industry by 2025 in predicting when a truck needs repair, directing fleet managers to the best-located service facility and completing the repair within 24 hours.DTNA targetsThree hundred new service bays will be added in the Southeast. Ninety additional bays will be added at a single Texas location, rivaling the 102 bays for Volvo and Mack trucks at TEC Equipment in Fontana, California."The need of our customers for maximum uptime has never been more apparent than it is in today's environment," Bangston said. "They are what makes the complex logistics and supply chain of our global economy work. When our customers do need service, DTNA and our dealers are committed to getting them back on the road as quickly as possible."DTNA is significantly expanding service capacity in South Bend, Indiana; Kansas City, Missouri; Columbus, Ohio; and Nashville, Tennessee.   Canada expansionIn Canada, a new 30-plus bay facility is under construction in Winnipeg, Manitoba. A new location with 20 bays is expected to open by the end of the year in Montreal. The DTNA dealer network comprises more than 1,100 dealerships, distributors and partner locations across North America.Image: DTNASee more from Benzinga * COVID-19 Confirmed On Gjertrud Maersk * Freight Futures Daily Curve: 3/30 * Labor Actions Taken In New York Against Amazon, Instacart(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Should You Buy Navistar International Corp (NAV)?
    Insider Monkey

    Should You Buy Navistar International Corp (NAV)?

    We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]

  • Automakers Pull 2020 View as Coronavirus-Led Uncertainty Rises
    Zacks

    Automakers Pull 2020 View as Coronavirus-Led Uncertainty Rises

    Coronavirus-induced uncertainty compels various automakers to scrap full-year 2020 guidance as they brace themselves for a bumpy road ahead.

  • Navistar Temporarily Closes Ohio Plant, Withdraws '20 View
    Zacks

    Navistar Temporarily Closes Ohio Plant, Withdraws '20 View

    Navistar (NAV) withdraws 2020 guidance in response to disruptions in the company's supply chain due to the pandemic-led crisis.

  • Navistar suspends production for two weeks at Springfield plant
    American City Business Journals

    Navistar suspends production for two weeks at Springfield plant

    The suspension applies to both production lines and remains in effect until April 6. It could impact several of the company's more than 2,000 local employees.

  • Navistar Idles Ohio Truck Plant For Two Weeks
    Benzinga

    Navistar Idles Ohio Truck Plant For Two Weeks

    Navistar International Corporation (NYSE: NAV) is suspending production of International and General Motors products at its truck assembly plant in Springfield, Ohio for two weeks because of supply chain disruptions related to the coronavirus pandemic.Navistar also pulled its financial and industry production guidance on Monday, March 23. The company said on March 4 that a revision to its fiscal year ending October 31 was possible depending on impacts from coronavirus. Navistar said its 2020 financial performance would be affected but it could not be specific.The company had $1.0 billion of consolidated cash and cash equivalents on hand as of January 31, and its Financial Services arm had money available under a $748 million revolving bank credit facility, as well as access to other funding sources in the U.S. and Mexico.The Navistar plant, located between Dayton and Columbus, Ohio, builds Class 4-8 medium- and heavy-duty trucks for Navistar's International brand. It also builds Class 4-5 Silverado pickup trucks for GM's Chevrolet brand. GM said March 18 it would idle all of its passenger car and light-duty plants in North America until March 30.This is the second shutdown in six months of GM production in Springfield, where 5,000 units of Silverado production was lost during a 40-day United Auto Workers strike last fall.Because of falling industry volumes and the exits from several markets, Navistar announced on December 17, 2019 that it would reduce its worldwide workforce 10%, or about 1,300 jobs.Navistar became the second of four major truck manufacturers to suspend production, following the Volvo Group's announcement on March 20, that it was temporarily halting Volvo and Mack truck production at plants in Virginia and Pennsylvania as well as a powertrain plant in Maryland. Volvo's Swedish parent AB Volvo (OTC: VLVLY) also predicted a negative material impact on 2020 earnings.So far, industry volume leader Daimler Trucks North America is maintaining production."The supply chain continues to be relatively stable, allowing us to continue to deliver trucks on time. So far this month, our on-time-delivery rate continues to be at a very high level," Daimler said in a letter to customers on Friday, March 20.A Daimler employee test positive for COVID-19 last week at Daimler's Detroit Powertrain campus in Michigan. The plant was scheduled to reopen Monday after being closed to clean and disinfect.  PACCAR Inc. (NASDAQ: PCAR) has declined to respond to FreightWaves queries on impacts from coronavirus.See more from Benzinga * February Used Truck Sales Rebound On Price And Seasonality * Veteran Turnaround Expert Takes On TravelCenters Of America Makeover * Truck Makers Maintain Production But Wary Of Supply Chain Issues(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • PR Newswire

    Navistar Announces Impacts From COVID-19 Pandemic

    Navistar International Corporation (NYSE: NAV) today provided a business update in light of the outbreak of the coronavirus disease (COVID-19). On March 23, 2020, the company is suspending production at its truck assembly plant in Springfield, Ohio, for two weeks in response to disruptions to Navistar's supply chain that are resulting from the evolving COVID-19 pandemic. The company is also withdrawing its previously announced financial and industry guidance for the fiscal year ending October 31, 2020.

  • Coronavirus concerns affect $250M truck plant groundbreaking
    American City Business Journals

    Coronavirus concerns affect $250M truck plant groundbreaking

    Concerns about the coronavirus pandemic have pushed back the groundbreaking for Navistar International Corp.’s planned truck assembly facility in South San Antonio. “Navistar leadership postponed their groundbreaking,” San Antonio Economic Development Foundation President and CEO Jenna Saucedo-Herrera said, noting that the project is still a go and work is progressing. The Navistar investment is expected to include some 600 new jobs once the plant is completed.

  • Reuters

    VW says it still wants to buy Navistar but also needs to conserve cash

    Volkswagen on Tuesday said it still wants to buy out U.S. truckmaker Navistar but added that the coronavirus crisis will require the carmaker to conserve cash as it shuts down plants and throttles back production. "The current liquidity outlook does not take into account a Navistar takeover," Chief Financial Officer Frank Witter said in a call to discuss results on Tuesday.

  • Truck Makers Maintain Production But Wary Of Supply Chain Issues
    Benzinga

    Truck Makers Maintain Production But Wary Of Supply Chain Issues

    Major truck manufacturers are avoiding production cuts and layoffs due to the coronavirus pandemic as supply chain disruptions so far are minimal.Orders for new Class 8 trucks are running below replacement demand following two years of near-record sales. All manufacturers expected a rough first quarter before the global spread of the coronavirus beyond its origin in Wuhan, China.Navistar Triage Team Navistar International Corp. (NYSE: NAV) has activated a cross-functional response team to keep track of the rapidly worsening crisis. The maker of International brand trucks and buses is using a third-party vendor to evaluate the supply base and the likely impacts of COVID-19. Air freight and substitutions for affected parts delayed parts have mitigated minor issues to date."At this time, we have determined it is a low-severity issue," Navistar CEO Troy Clarke wrote in a message on the company website Thursday. "We have prepared a triage team to rapidly react to any future supply risk and mitigation plans have been developed for high-risk components."Navistar said it does not expect suppliers to come to its headquarters in suburban Chicago for the time being.Volvo Trucks North America, a unit of Swedish truck maker AB Volvo (NASDAQ: VLVLY), said it is banning travel to areas restricted by the U.S. State Department and restricting noncritical business travel.Sar Far, So Good Volvo sIbling Mack Trucks said it has experienced neither production impacts nor major disruptions from suppliers."The situation is very fluid, and we will continue to monitor our supply chain," Mack spokesman Christopher Heffner said. "We continue to have business-critical meetings, such as dealer and customer visits, if they are not large groups."Customer tours at Mack's Lehigh Valley (Pennsylvania) Operations and the Mack Customer Center and public tours of the Mack Trucks Historical Museum are temporarily suspended. Volvo also is restricting plant tours and customer center visits at its New River Valley manufacturing campus in Virginia.No Show, No Go Navistar, Volvo and Mack all said they are being careful about attending industry trade shows even as events like the Mid-America Truck Show (MATS) in Louisville, Kentucky, have been canceled."The decision regarding our involvement in these affairs will be made on a case-by-case basis," Navistar's Clarke said. "We will seek to replace physical presence with digital or virtual presence wherever possible."The value of connecting with potential customers at trade shows is less important than "the health and well-being of our customers, potential customers and employees," Volvo spokeswoman Jennifer Edwards said.AB Volvo said Friday it will hold a scaled-back version of its April 8 Annual General Meeting in Gothenburg, Sweden, and encouraged shareholders to vote by proxy in lieu of attending. Registration will start later, no food will be served, and questions during the meeting will be restricted to issues on the agenda. Some planned speeches are being shortened or canceled.PACCAR Inc. (NASDAQ: PCAR), parent of Kenworth Truck Co. and Peterbilt Motors, declined to comment on FreightWaves' questions about impacts to their businesses from the coronavirus. Daimler Trucks North America, a unit of Daimler AG (NASDAQ: DDAIF), did not respond.Image Sourced from PixabaySee more from Benzinga * US Tightens Sanctions Lasso On Rosneft Operations Handling Venezuelan Oil * Overhaul Scores .5M To Detect, Fix Supply Chain Problems * Canadian Lawmakers Approve USMCA As Coronavirus Crisis Deepens(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • The Zacks Analyst Blog Highlights: General Motors, Toyota Motor, Navistar International, AutoZone and BMW AG
    Zacks

    The Zacks Analyst Blog Highlights: General Motors, Toyota Motor, Navistar International, AutoZone and BMW AG

    The Zacks Analyst Blog Highlights: General Motors, Toyota Motor, Navistar International, AutoZone and BMW AG

  • Auto Stock Roundup: GM EV Push, AZO & NAV Quarterly Results & More
    Zacks

    Auto Stock Roundup: GM EV Push, AZO & NAV Quarterly Results & More

    General Motors (GM) bets big on EVs with $20 billion investments through 2025. While AutoZone (AZO) delivers earnings beat, Navistar (NAV) delivers dismal quarterly results.

  • Navistar (NAV) Q1 Loss Narrower Than Expected, Sales Lag
    Zacks

    Navistar (NAV) Q1 Loss Narrower Than Expected, Sales Lag

    Navistar (NAV) expects revenues in the band of $9.25-$9.75 billion for fiscal 2020.

  • Navistar Studying TRATON Buyout Offer But Keeping Mum
    Benzinga

    Navistar Studying TRATON Buyout Offer But Keeping Mum

    TRATON Group's bid for Navistar International Corp. (NYSE: NAV) — the elephant in the room — got only perfunctory responses on Navistar's earnings call with analysts Wednesday. Executives instead unpacked some of the reasons why the truck maker lost money in the first fiscal quarter.For starters, the company's quarterly timing, as opposed to competitors who report on a calendar-year basis, bore the brunt of the end-of-2019 declines in sales and included January's down month. Navistar's core businesses all suffered, but Class 8 trucks posted just 6% market share compared to a normal share of around 14%."There's nothing specifically I can point to," Persio Lisboa, Navistar chief operating officer, responded to an analyst question. "We are not driving significant pressure on the dealers to stock up or support products in the marketplace."First-quarter orders for buses, severe-duty and medium-duty trucks rose 14% over the fourth quarter, Lisboa said.Navistar has scrubbed its order board, removing some build slots being held for specific customers, CEO Troy Clarke said. With preliminary February Class 8 orders falling 20% from January, a tightly managed backlog is important. Heavy-duty orders could fall 50% this year compared to 2019, Clarke said."Over the balance of the year, our results will improve over what we've experienced in the first quarter," he said. "Absent a meaningful impact from the coronavirus issue, I am confident that succeeding quarters will improve sequentially."By The Numbers Navistar reported a net loss of $36 million, or 36 cents per diluted share, compared to first-quarter 2019 net income of $11 million, or 11 cents per diluted share.Revenues in the November-January quarter were $1.8 billion, compared to $2.4 billion in the first quarter last year.First-quarter 2020 adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was $59 million, compared to $173 million in the first quarter of  2019.The company remains on track to improve its EBITDA from the current 8% to 10% by 2022 and 12% by 2024, Clarke said. Navistar reiterated its guidance for the year * Industry retail deliveries of Class 6-8 trucks and buses in the United States and Canada are forecasted to be in the range of 335,000 to 365,000 units, with Class 8 retail deliveries between 210,000 and 240,000 units. * Revenues are expected to be in the range of $9.25 billion to $9.75 billion. * Adjusted EBITDA is expected to be in the range of $700 million to $750 million.Other Limiting FactorsNavistar sells a lot of medium-duty trucks to rental companies, including Ryder System Inc. (NYSE: R) and Penske Truck Leasing. When the market contracts, some of those rentals are converted to leases. That means Navistar misses out on selling additional equipment."For us, it's a double whammy," Clarke said. "We don't sell as many [trucks] because they have lower rentals, and they are putting a rental on lease, so we're not selling a truck to them for leasing."Navistar also sold trucks to bankrupt Celadon Group. Those trucks are now being auctioned."We look at the Celadon liquidation as contributing to the industry pricing trend, not specifically impacting our pricing trend," Clarke said."Record deliveries of new trucks over the past two years has increased the supply of used trucks, depressing their prices," he said. "There is just a lot of truck capacity right now chasing a relatively constant number of loads. This is the classic truck cycle."Elephant In The Room Other than a perfunctory statement in the earnings news release, TRATON SE's unsolicited $2.9 billion buyout offer for the 83% of Navistar it does not already own was an off-limits subject."Navistar's Board of Directors is carefully reviewing and evaluating the proposal to determine the course of action it believes is in the best interest of the company and its stakeholders," the release said.Marty Ketelaar, Navistar vice president of investor relations, urged analysts at the beginning of the call to avoid asking about the subject. Several tried anyway.How are customers behaving in light of the offer, one asked."We've had some questions from stakeholders but no change in behaviors, business as usual," Lisboa responded.Any idea on timing, asked another."We'll just let the board continue to work through this and we'll just let the process work," Clarke said.Navistar's purchasing alliance with TRATON is in its third year and on target to generate $200 million in annual savings and $500 million cumulatively over five years, Chief Financial Officer Walter Borst said.The two companies are cooperating on a $125 million manufacturing expansion in Alabama to produce next-generation big-bore powertrains. A new Navistar assembly plant planned in San Antonio also has TRATON input.TRATON, the truck manufacturing holding company of Volkswagen AG, purchased about 17% of Navistar shares in September 2016. It is clear about its desire to enter the North American market and compete with subsidiaries of Daimler Trucks and Volvo Group. TRATON flashed hot and cold signals about taking over Navistar before saying on Jan. 30 the time was right.Coronavirus Concerns Navistar executives said they are actively working on plans to protect employees and suppliers from the coronavirus."We're monitoring our supply chain and have been able to mitigate minor disruptions to date," Borst said, adding that has included some expedited freight and substituting parts in some cases to maintain production schedules.Clarke said Navistar is able to shift most production between its plants in Springfield, Ohio, and Escobedo, Mexico."We've managed through issues like this before," he said. "We have all the tactics. We're just making sure that all those buttons [work] when we push them."I don't want to add to the sensationalism on the issue," Clarke said. "It's still a very small issue. You can assume hand-washing went up about 10 times."Image Sourced from PixabaySee more from Benzinga * Mack's MD Series Makes Public Debut At Work Truck Show * Freight Futures Daily Curve: 3/4 * Volumes Grow Despite Economic Concerns – FreightWaves NOW(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Navistar Swings To Loss On Lower Truck Sales
    Benzinga

    Navistar Swings To Loss On Lower Truck Sales

    Navistar International Corporation (NYSE: NAV) reported a $36 million loss for the fiscal first quarter on Wednesday as truck sales across its lineup fell along with financing and parts revenue.The Lisle, Illinois-based truck maker said it was "carefully reviewing and evaluating" an unsolicited offer from its alliance partner TRATON SE, the truck-making holding company of Volkswagen AG, for the remaining 83% of the company TRATON does not already own.Navistar's net loss of $36 million, or $0.36 per diluted share, compared to first quarter 2019 net income of $11 million, or $0.11 per diluted share.Revenues in the November-January quarter were $1.8 billion compared to $2.4 billion in the first quarter last year. A 39% decrease in the Navistar's Class 6-8 truck and bus business in the United States and Canada drove the poorer results.This is a developing story. Come back to FreightWaves.com later for more following the company's call with analysts.First quarter 2020 adjusted earnings before interest, taxes depreciation and amortization (EBITDA) was $59 million, compared to $173 million in the first quarter of  2019.  "While revenues are down year-over-year, these results are in line with the guidance we provided in December as the industry works through a transition period," said Navistar CEO Troy Clarke, who is also chairman and president.  "As market conditions improve throughout the year, we have confidence that the company is positioned to build upon its first quarter performance and take advantage of what we expect to be a stronger second half," Clarke said.In January Navistar received final approval of the MaxxForce exhaust gas recirculation (EGR) engine class action settlement in the U.S. The company funded the cash portion of the settlement with $85 million in February.Image Sourced from PixabaySee more from Benzinga * project44 Announces Industry's First Carrier Onboarding Service Level Agreement * FBX Report: March 4, 2020 * Cummins Announces B6.7N Natural Gas Engine Certified Below EPA NOx Limit(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Navistar (NAV) Reports Q1 Loss, Lags Revenue Estimates
    Zacks

    Navistar (NAV) Reports Q1 Loss, Lags Revenue Estimates

    Navistar (NAV) delivered earnings and revenue surprises of 13.16% and -0.88%, respectively, for the quarter ended January 2020. Do the numbers hold clues to what lies ahead for the stock?

  • MarketWatch

    Navistar reports wider-than-expected loss, is reviewing buyout bid received during Q1

    Shares of Navistar International Corp. were indicated down a little over 1% in premarket trading Wednesday, after the commercial truck maker reported a bigger-than-expected fiscal first-quarter loss, but said it had received an unsolicited buyout bid during the quarter. The company said the bid was from alliance partner TRATON, and the board of directors is "carefully reviewing and evaluating the proposal." For the quarter to Jan. 31, the company swung to a net loss of $36 million, or 36 cents a share, from net income of $11 million, or 11 cents a share, in the year-ago period. The FactSet consensus for net loss per share was 31 cents. Revenue fell to $1.84 billion from $2.43 billion, citing declines in sales of Class 6-8 trucks and buses, but topped the FactSet consensus of $1.78 billion. The company reiterated its 2020 revenue outlook of $9.25 billion to $9.75 billion. The stock has rallied 12.2% over the past three months through Tuesday, while the S&P 500 has lost 3.5%.

  • PR Newswire

    Navistar Reports First Quarter 2020 Results

    Navistar International Corporation (NYSE: NAV) today announced a first quarter 2020 net loss of $36 million, or $0.36 per diluted share, compared to first quarter 2019 net income of $11 million, or $0.11 per diluted share.

  • Navistar (NAV) Expected to Beat Earnings Estimates: Should You Buy?
    Zacks

    Navistar (NAV) Expected to Beat Earnings Estimates: Should You Buy?

    Navistar (NAV) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • PR Newswire

    Navistar To Announce Fiscal 2020 First Quarter Financial Results On Wednesday, March 4, 2020

    Navistar International Corporation (NYSE: NAV) today announced that it will report its fiscal 2020 first quarter financial results on Wednesday, March 4, 2020.