Navistar Boosts Earnings Forecast

Navistar International Corp. boosted its profit forecast, saying it would earn $388 million to $465 million, or $5 to $6 per share, excluding some items, for its fiscal year that ends Oct. 31.

The maker of International brand trucks said it “expects substantial gains in fiscal 2011 earnings as the result of the successful implementation of its three-pillar growth strategy and improving economic conditions.”

The boost was based on a “stronger economy, further expansion of our after-market service parts business and continued benefit from great products, a competitive cost structure and profitable growth,” Navistar CEO Daniel Ustian said in a statement.

Truck industry retail sales for the fiscal year will rise to 240,000 to 260,000 vehicles, from 191,300 a year earlier, Navistar said, up from its December forecast of 230,000 to 250,000.