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Navistar sees net loss of $81M during 1st quarter of 2021

Employees of Wheeler Trucking load GM vehicles built at Navistar’s Springfield plant onto a truck in 2017. Bill Lackey/Staff

Employees of Wheeler Trucking load GM vehicles built at Navistar’s Springfield plant onto a truck in 2017. Bill Lackey/Staff
News
By Hasan Karim
March 11, 2021
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Navistar saw a net loss of $81 million during the first quarter of this fiscal year, according to a news release from the truck manufacturer.

That loss was greater this year when compared to the net loss of $36 million reported during the fiscal year of 2020. The first quarter covers a three month period that ended on Jan. 31.

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Revenues for this year’s quarter were $1.8 billion, similar to what was reported during the same period in 2020.

Charge outs for the company’s medium and heavy duty trucks and buses in the United States and Canada market were 10,600 units in the first quarter of 2021.

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Charge outs are defined as trucks and buses that have been invoiced to customers.

Navistar finished the first quarter of 2021 with $1.3 billion in consolidated cash and cash equivalents, including $1.2 billion in manufacturing cash and cash equivalents, according to the news release.

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About the Author

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Hasan Karim, covers all things business in Clark and Champaign counties. Has been a reporter since 2017. His focus is primarily on job creation and covering the largest companies in the area. He also reports on the local healthcare industry as well as local government.