Navistar’s Second-quarter Loss of 370 Million Dollars
2013-06-19
Recently Navistar announced a second-quarter decline of revenue (from February 2013 to April 2013) with a bigger loss than the same period of 2012.
Recently Navistar announced a second-quarter decline of revenue (from February 2013 to April 2013) with a bigger loss than the same period of 2012.
Navistar’s revenue was 2.53 billion dollars, which dropped 22.5% year on year in the second quarter. This decline shows lower overall market demands in the north America and Navistar’s shrinking market shares. However, growth of engine business in the southern market offsets this downward trend to some degree.
In the first half of the year, total revenue of Navistar is 5.16 billion dollars, which dropped 17.7% year on year. The revenue of the same period last year is 6.27 billion dollars.
The net loss of 374 million dollars in the last quarter increased 117%, 172 million dollars year on year. Among four business departments of the company, departments of truck and engine are both in the red with respective loss of 109 million dollars and 138 million dollars. Departments of components and financial service make respective profits of 91 million dollars and 19 million dollars.
During the first half of the year (from November 2012 to April 2013), the accumulative total net loss of Navistar expands to 497 million dollars from 325 million dollars year on year.
