Navistar (NYSE: NAV) reported Q2 EPS of $0.05, $0.21 better than the analyst estimate of ($0.16). Revenue for the quarter came in at $2.2 billion versus the consensus estimate of $2.18 billion.

Second quarter 2016 EBITDA was $135 million, compared to second quarter 2015 EBITDA of $85 million. This year’s second quarter results included $52 million in adjustments, including $46 million to pre-existing warranty reserves. As a result, second quarter adjusted EBITDA was $187 million, up 83 percent, compared to adjusted EBITDA of $102 million in the comparable period last year. The improvement was driven by continued strong cost management, product cost improvement and record Parts segment profitability.

GUIDANCE:

Navistar sees FY2016 revenue of $8.2-8.6 billion, versus the consensus of $8.79 billion.

• Reduced 2016 adjusted EBITDA guidance to $550 million - $600 million.
• Updated total cost reduction guidance to well exceed $200 million.
• Reduced its end-of-year manufacturing cash guidance to be approximately $800 million.

For earnings history and earnings-related data on Navistar (NAV) click here.