May 10, 2006 10:30 AM, EDT

Navistar Says ’06 Earnings Will Exceed Forecasts

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ruck and engine manufacturer Navistar International Corp. said Wednesday that its 2006 earnings will exceed analysts’ forecasts.

In a presentation at financial firm Bear Stearns’ transportation conference in New York, Navistar Chief Executive Officer Daniel Ustian said the company expects the company’s earnings to exceed analysts’ forecasts of $5.38 a share.

“Given the current strength of the industry, I am confident that Navistar will outperform the current Wall Street estimates,” Ustian said.

The company also reported that accounting firm KPMG formally accepted its appointment to be Navistar’s new independent auditor.

Navistar, the parent company of International Truck and Engine Corp., said in April that it plans to restate earnings results from 2002 through 2005 and that it was replacing its previous auditor, Deloitte Touche. (Click here for previous coverage.)