Navistar's Earnings Rise on Increased Sales
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“Cost reductions continue to be a critical focus for the truck and engine segments,” Chief Executive Officer Daniel Ustian said in the earnings statement.
avistar International Corp. said Wednesday its third-quarter profit rose 28% to $64 million or 83 cents a share, compared with $50 million or 66 cents a year earlier.
The company said it sold more trucks and school buses and scaled back spending, with its sales rising 27% to $3 billion.
Navistar shipped 15% more school buses and trucks, or 32,200 vehicles, in the quarter. The company also said it is cutting costs by eliminating excess capacity at its plants.
