Navistar International Corp.
Navistar International Corp. reported a fourth-quarter loss on tax expenses and expenses related to a cost-reduction program and engine warranties.
The truck and engine maker said Wednesday it lost $2.8 billion, or $40.13 per share, compared with a profit of $255 million, or $3.48, a year ago.
Its pre-tax loss was $566 million, compared with a $275 million pre-tax profit in the same period last year. Revenue for the quarter ended Oct. 31 fell 24% to $3.3 billion, reflecting lower sales.
The loss included $2 billion, or $28.59 per share, in tax costs, pre-tax charges of $149 million in warranty expenses related to 2010 big-bore engines, $73 million in cost-reduction actions, $16 million in restructuring charges for its North American manufacturing operations and engineering integration and $14 million in non-conformance penalties.