Navistar: makes adjusted net loss in Q3
(CercleFinance.com) - The truck manufacturer Navistar has published an adjusted net loss of eight million dollars for Q3 2019-20, against a profit of 147 million dollars a year ago, with adjusted EBITDA that is down 61% to 104 million dollars.
The Illinois-based group has seen its revenues drop 45% to less than 1.7 billion dollars, driven by the impact of the Covid-19 crisis, with an unfavourable comparison basis compared with results that it says were close to the peak of the sector cycle a year earlier.
Navistar also says that it is making progress in the construction of a production site in San Antonio, which will be able to build both diesel and 100%-electric vehicles, a plant scheduled to open in spring 2022.
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The Illinois-based group has seen its revenues drop 45% to less than 1.7 billion dollars, driven by the impact of the Covid-19 crisis, with an unfavourable comparison basis compared with results that it says were close to the peak of the sector cycle a year earlier.
Navistar also says that it is making progress in the construction of a production site in San Antonio, which will be able to build both diesel and 100%-electric vehicles, a plant scheduled to open in spring 2022.
Copyright (c) 2020 CercleFinance.com. All rights reserved.