WARRENVILLE, Ill. — Navistar International announced that earnings for the 2006 fiscal year, are expected to exceed current analyst expectations in spite of challenges tied to higher interest rates associated with recapitalizing its debt structure.
In a presentation at the Bear Stearns’ 2006 Global Transportation Conference, Daniel C. Ustian, Navistar chairman, president and CEO, said that the company expects earnings per share for fiscal year 2006 will be higher than the current average estimate of Wall Street analysts of $5.38 per share.
“Given the current strength of the industry, I am confident that Navistar will outperform the current Wall Street estimates,” Ustian said. “Our company continues to capitalize on the strength of the industry and to build on our core business through growth in less cyclical markets such as the military.”
The company also confirmed that KPMG has formally accepted the company appointment as its new independent auditor after completing its customary client acceptance procedures.
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