Navistar Restates Guidance; Sees Strong ’07 Despite Class 8 Drop
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Navistar said Friday it is restating financial results going back to 2002. It said in April it would restate earnings from 2002 through 2005 and that it had replaced its outside auditor. (Click here for previous coverage.)
avistar International Corp. reiterated late Monday that it expects to earn $5.38 per share this year and said it sees a strong 2007 despite a potential drop in Class 8 sales.
The per-share level is below current Wall Street estimates, the Associated Press reported. The company originally released the $5.38 estimate in May. (Click here for previous coverage.)
The company, which is the parent of International Truck and Engine Corp., said in a letter to its shareholders that is positioning for a strong 2007, despite a foreseen drop in demand for its Class 8 trucks.
