Navistar reported a net loss of $38 million during 2nd quarter of 2020

Navistar International employees work on the assembly line putting an engine in a new truck in 2018. JEFF GUERINI/STAFF

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Navistar International employees work on the assembly line putting an engine in a new truck in 2018. JEFF GUERINI/STAFF

Navistar reported a net loss of $38 million for its second quarter of the 2020 fiscal year, compared to a net loss of $48 million seen during the same period last year.

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However, total revenues during the quarter are down by 36% when compared to last year. The company reported $1.9 billion in revenue this year between a three month period that ended on April 30. Overall revenue for this fiscal year is also down compared to last year.

The company reported $3.8 billion in revenues for a six month period ending in April, which is down from the $5.4 billion reported for fiscal year 2019.

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The decrease was largely contributed to the immediate economic impact of the COVID-19 pandemic that resulted in lower volumes in the medium to heavy-duty commercial truck and bus market. Chargeouts were reported to be down about 40% compared to the same period last year.