Navistar International Corp. said Tuesday its fiscal second-quarter profit rose from a year ago as its truck segment’s sales improved.
The company earned $74 million, or 93 cents a share, up from $43 million, or 60 cents, a year ago.
Revenue for the quarter ended April 30 rose to $3.4 billion, from $2.7 billion, Navistar said in a statement.
Truck segment sales improved to $92 million, from $76 million a year ago. Engine sales fell to $2 million from $15 million, while parts sales rose to $74 million from $58 million.
The company in January boosted its earnings forecast for the fiscal year to end Oct. 31, but on Tuesday it tightened its forecast, saying adjusted net income would be $427 million to $465 million, or $5.50 to $6 per share. Those figures exclude costs associated with the integration of its truck and engine engineering operation.
Trucking unit revenue growth was driven by higher commercial volume, favorable pricing from 2010 emissions-compliant engines and increased military revenue associated with its Mine Resistant Ambush Protected vehicle deliveries, Navistar said.
The engine segment saw improved intercompany sales, due to a commercial truck industry recovery and growth in world original equipment manufacturer products. The segment’s profitability fell primarily due to increased engineering and warranty costs on legacy products.
