Navistar reports net loss of $37 million for 3rd quarter of 2020

Navistar reported a net loss of $37 million during its third quarter of 2020. Bill Lackey/Staff
Navistar reported a net loss of $37 million during its third quarter of 2020. Bill Lackey/Staff

Navistar International reported a net loss of $37 million during a three-month period that ended in July.

That is a substantial decrease when compared to the same period last year, which saw a net income of $156 million.

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Revenues for Navistar’s third quarter this year were also down when compared to the same period last year. The company reported a revenue of $1.7 billion, down 45% when compared to the same quarter in 2019.

Medium-duty and heavy-duty truck charge outs as well as buses in the United States and Canada markets were down by 53 percent, representatives of the company said this week.

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The decrease was primarily driven by the impact of the coronavirus pandemic. Representatives of Navistar also noted that last year’s third quarter results were near the peak of the prior industry cycle.