Navistar International announced third quarter 2019 net income of $156 million compared to Q3 2018 net income of $170 million.
Third quarter adjusted EBITDA was $266 million, compared to $218 million in the same period one year ago. Adjusted net income in the quarter grew 55 percent to $147 million, compared to $95 million last year.
Revenues in the quarter were 3 billion, up 17 percent from the same period one year ago. Navistar ended Q3 with $1.16 billion in consolidated cash, cash equivalents, and marketable securities. The company generated $250 million of manufacturing free cash flow largely due to strong adjusted EBITDA and networking capital performance.
The truck segment’s net sales increased 25 percent to $2.4 billion compared to Q3 2018. The increase is due to higher volumes in the company’s Core markets, an increase in both Mexico sales and sales of Class 4-5 trucks manufactured for GM.
Parts segment net sales decreased six percent to $571 million compared to third quarter 2018, primarily due to the impact of a new revenue standard and lower Blue Diamond Parts sales.
Source: Navistar
