Posted on Tuesday, June 7th, 2011 at 5:20 pm.
Navistar International on Tuesday announced a 72 percent hike in its second quarter profit.
According to a Navistar press release, the company posted a net income of $74 million, or $0.93 per share, in its second quarter, which ended April 30. The company’s second quarter income in 2010 was $43 million, or $0.60 per share. The company’s profit for the quarter was $80 million, or $.102 per share. Analysts predicted the company would hit $1.17 per share.
Navistar’s shares on the New York Stock Exchange fell 5.1 percent on Tuesday morning.
Despite the stock fall, Navistar hiked up the lower end of its guidance for the full year ending October 31. The company’s adjusted net income is now expected to be between $427 and $465 million, up from the bottom end of $388 million.
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