Automotive manufacturer Navistar International (NAV) saw shares rise more than 8% in Tuesday’s session, after the company reported earnings and revenue that beat analysts expectations.
The Chicago-based company saw fiscal fourth-quarter profit rise to $86 million or $1.19 a share, which compares to a loss of $343 million or $4.81 a share during the fourth quarter last year.
Revenue for the quarter slid 15% to $3.29 billion.
Adjusted earnings per share came to $1.99, easily beating analysts expectations for earnings of $1.52 a share on revenue of $3.09 billion.
"During one of the weakest economies we can recall, we are pleased with our performance and our ability to continue to invest in the long-term future of the business," said A.J. Cederoth, Navistar's executive vice president and chief financial officer in a release. "As a result, we believe we are well positioned to capitalize on a variety of opportunities that lie ahead."
Shares of Navistar rose $3.05 or 8.59% in Tuesday’s session, closing at $38.56 a share. The stock was trading 49 cents lower after the market closed.
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