Navistar’s sales for the second quarter of fiscal 2015 were down 1.93% to US$2.69bn compared with $2.74bn in the same period a year ago. Loss from continuing operations narrowed to $64m compared to $298m. Net loss was $64m versus $297m.
First half sales rose 3.23% to $5.11bn. Operating loss fell notably to $106m from $547m. The net loss was $106m compared with $545m.
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“Our results reflect continued progress in improving enterprise-wide business operations and positive momentum in the North American industry,” said Troy Clarke, Navistar president and chief executive officer. “We continue to make solid improvements in our North American truck and parts businesses and are especially encouraged by the progress in our bus business as well as increased market share in our medium duty business, where we saw significant improvement in sales to major rental and leasing fleets and strong results in dealer led sales.”
“We continue to take the right actions to improve the business and expect to achieve in excess of an 8% EBITDA margin run rate as we exit the year,” Clarke added. “We think 2016 will be another strong year for the North American industry and we believe we’re well positioned to take advantage of favourable market conditions for our core businesses.”
