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Trump made a critical decision in the upcoming debt ceiling fight

President Donald Trump told Republican congressional leaders on Tuesday that Treasury Secretary...

Navistar: Legacy EGR issues coming to an end

An industry-wide surplus of used trucks in the U.S. is driving down the “price gap” between domestic and export valuations, which is spurring Navistar to shift sales of its bulging 7,000 unit inventory of trucks equipped with its discontinued MaxxForce 13-liter exhaust gas recirculation (EGR) only engine overseas.

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Navistar Pins Q2 Loss on New Vehicle Sales and Used Trucks

International RH Series Photo: Navistar

Navistar International Corporation (NYSE: NAV) has reported a second quarter 2017 net loss of $80 million on revenues of $2.1 billion. The truck and engine maker attributed those results to lower U.S. and Canada sales of its trucks and buses and to heightened used-truck losses.

Revenues in the quarter were down 5% (compared to $2.2 billion in Q2 2016), according to the company's June 7 earnings release. Navistar said that decrease “primarily reflects lower volumes in the company's Core (Class 6-8 trucks and buses in the United States and Canada) market, where chargeouts were down 5%, but [were] higher than industry Core market volumes, which were down 13%t year-over-year.”

Navistar also reported that higher used truck losses led it to take a $60 million charge in the second quarter, pointing out that its inventory of “legacy” MaxxForce 13-powered used trucks was “the largest contributor to the year-over-year decline.”

As a result, the company stated it is changing its sales strategy for these units “to take advantage of additional opportunities to sell more units into export markets, a move it expects will accelerate efforts to reduce its inventories of these trucks.”

The Q2 results also included $18 million in adjustments, primarily from pre-existing warranties, asset impairment charges, restructuring of manufacturing operations, and debt financing charges.

“We are on track to improve on last year's results, but still have quite a bit of work to do in the second half,” said Troy A. Clarke, Navistar chairman, president and chief executive officer. “However, the work we've done in the first six months growing share, building our backlog, and managing costs, combined with improving industry conditions, positions us to deliver a stronger second half.”

Navistar reported that Q2 EBITDA was $47 million, compared to $135 million a year earlier. It also said that it ended Q2 ...Read the rest of this story

Logistical Labs integrates with DAT RateView

Logistical Labs, a cloud-based supply chain software company, has partnered with DAT Solutions to provide LoadDex users with more accurate truckload rating data. DAT RateView is an online database of real-time spot market and current contract freight rates based on billions of dollars' worth of actual transactions.

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