Navistar announced fourth quarter 2019 net income of $102 million compared to fourth quarter 2018 net income of $188 million. Navistar reported net income of $221 million for fiscal year 2019, versus net income of $340 million for fiscal year 2018. Adjusted net income for the fourth quarter was $144 million versus $189 million in the same period one year ago.
Fourth quarter 2019 adjusted EBITDA was $219 million versus $322 million one year ago. Fiscal year 2019 adjusted EBITDA increased seven percent to $882 million, versus $826 million in 2018.
In 2020, industry retail deliveries of Class 6-8 trucks and buses in the U.S. and Canada are forecast to be in the range of 335,000 to 365,000 units, with Class 8 rental deliveries between $210,000 and $240,000 units. Revenues are expected to be in the range of $9.25 billion to $9.75 billion.
Truck Segment- For Q4 2019, the truck segment recorded a profit of $86 million, compared with a year-ago fourth quarter profit of $197 million. The year-over-year decline was primarily due to an 18 percent decline in the company’s core chargeouts, as well as the impact of the sale of majority interest in the Navistar Defense Business.
Parts Segment- For the fourth quarter 2019, parts segment recorded a profit of $161 million compared with a year-ago fourth quarter profit of $156 million. For the year, the parts segment recorded a profit of $161 million.
Source: Navistar
