EX-99.1 2 dex991.htm SLIDE PRESENTATION FOR WEB CAST TO BE HELD ON APRIL 8TH Slide Presentation for Web Cast to be held on April 8th
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Exhibit 99.1
Guidance Update
April 8, 2010


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Safe Harbor
Statement
Information provided and statements contained in this presentation that are not purely historical are
forward-looking statements within the meaning of Section
27A of the Securities Act of 1933, as
amended, Section
21E of the Securities Exchange Act of 1934, as amended, and the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements only speak as of the date of this
presentation and the Company assumes no obligation to update the
information included in this
presentation. Such forward-looking statements include information concerning our possible or assumed
future results of operations, including descriptions of our business strategy. These statements often
include words such as “believe,”
“expect,”
“anticipate,”
“intend,”
“plan,”
“estimate,”
or similar
expressions. These statements are not guarantees of performance or results and they involve risks,
uncertainties, and assumptions. For a further description of these factors, see Item
1A, Risk Factors,
included within our Form 10-K for the year ended October
31, 2009, which was filed on
December 21, 2009.  Although we believe that these forward-looking statements are based on
reasonable assumptions, there are many factors that could affect
our actual financial results or results
of operations and could cause actual results to differ materially from those in the forward-looking
statements. All future written and oral forward-looking statements by us or persons acting on our behalf
are expressly qualified in their entirety by the cautionary statements contained or referred to above.
Except for our ongoing obligations to disclose material information as required by the federal securities
laws, we do not have any obligations or intention to release publicly any revisions to any forward-
looking statements to reflect events or circumstances in the future or to reflect the occurrence of
unanticipated events.


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Other Cautionary Notes
The financial information herein contains audited and unaudited
information and has been prepared by management in good faith
and based on data currently available to the Company.  
Certain Non-GAAP measures are used in this presentation to assist
the reader in understanding our core manufacturing business.
We
believe this information is useful and relevant to assess and
measure the performance of our core manufacturing business as it
illustrates manufacturing performance without regard to selected
historical legacy costs (i.e. pension and other postretirement costs).
It also excludes financial services and other expenses that may not
be related to the core manufacturing business.  Management often
uses this information to assess and measure the performance of our
operating segments.
A reconciliation to the most appropriate GAAP
number is included in the appendix of this presentation.


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Focus is on reducing impact of cyclicality
Non-traditional/expansion markets
Grow parts
Improve cost structure while developing synergistic
niche businesses with richer margins
Improve conversion rate of operating income into
net income
Controlling our Destiny
Strategy: Leveraging What We Have and
What Others Have Built


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Insert PowerPoint
Presentation Name Here
Earnings Per Share vs. Industry Volume
2010 Guidance Range –
Revised April 2010
Reg
G reconciliation can be found on slide 12
$(10.00)
$(5.00)
$-
$5.00
$10.00
$15.00
$20.00
150
200
250
300
350
400
450
500
Traditional Industry Volume (Thousands of Units)
Revised
2010
Guidance
Midpoint
Original $1.6B  Segment
Profit Goal
@ 415k
units
$1.8B  Segment Profit    
Goal
@ 350k
units*
Original
2010
Guidance
Midpoint
Traditional Industry Volume (Thousands of Units)
Notes:
*  Assumes attainment of mature global growth by end of calendar year 2013


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Navistar Defense 2010 Sales Mix
Goal:  $2 Billion Sustainable
FY 2010
U.S. and FMS
Vehicles
Direct
Foreign
Vehicles
Services
Parts
FY 2009
Prior outlook provided on January 19th
Revised outlook
Parts
Capability
Insertion
Vehicles
U.S. and FMS
Vehicles
Direct Foreign
Vehicles
Services
Parts
U.S. and FMS
Vehicles
Direct Foreign
Vehicles
Services
Capability
Insertion
Parts
Parts
Capability
Insertion
Vehicles
Firm Orders
Opportunity
~$1B revenue
~$1.0-$1.2B revenue
~$2.0-$2.2B revenue
Firm Orders
Opportunity
~$2B revenue
~$0.6-$0.8B revenue
~$2.6-$2.8B revenue
~$3B revenue


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2010 Guidance
We continue to invest today, to ensure the future
4/8/2010
guidance
includes
~
$50M
of
Mahindra/NC
2
and
other
JV
start up expenses
1/19/2010
Guidance
4/8/2010
Guidance
U.S. and Canada Industry
195,000 – 215,000
195,000 – 215,000
($Billions)
Sales and revenues, net
$12.6 – $13.1
$13.2 – $13.7
($Millions)
Manufacturing segment profit*
700 – 750
800 – 850
Below the line items
(553) – (547)
(582) – (586)
Income excluding income tax
147 – 203
218 – 264
Income tax expense
(20) – (40)
(20) – (30)
Net income attributable to Navistar International Corp. (NIC)
$127 – $163
$198 – $234
Diluted earnings per share ($'s) attributable to NIC
$1.75 – $2.25
$2.75 – $3.25
Weighted average shares outstanding: diluted (millions)
~ 72.5
~ 72.5
* Includes: non-controlling interest in net income of subsidiaries
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Manufacturing Segment Profit is not in accordance with, or an alternative for, U.S. generally accepted accounting principles (GAAP). The non-GAAP financial information presented herein should be considered
supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.  However, we believe that non-GAAP reporting, giving effect to the adjustments shown in the
reconciliation above, provides meaningful information and therefore we use it to supplement our GAAP reporting by identifying items that may not be related to the core manufacturing business.  Management often uses
this information to assess and measure the performance of our operating segments. We have chosen to provide this supplemental information to investors, analysts and other interested parties to enable them to perform
additional analyses of operating results, to illustrate the results of operations giving effect to the non-GAAP adjustments shown in the above reconciliations and to provide an additional measure of performance.


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Health Care Reform
Medicare Part D–Loss of Tax
Deduction:
No P&L impact to Navistar due to 
deferred tax valuation allowance
Medicare Advantage
Reimbursement for Medicare
Advantage is expected to go down
Exact impact of change is still TBD
Other impacts of new legislation
Excise tax on health care
Additional dependent coverage
Government support TBD
Medicare Part D
Navistar changed the OPEB
administration requiring enrollment
into Part D
Review coverage for active and
inactive employees
Restructure benefits
Legislation
Actions
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Appendix


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2010 Guidance
Guidance
Truck Industry Units
195,000
to
215,000
Revenue ($ Billions)
13.2
to
13.7
($ Millions (excluding EPS))
Mfg. Segment Profit
800
to
850
Below the line items
(582)
to
(586)
Profit Excluding Tax
218
to
264
Net Income attributable to NIC
198
to
234
Tax Rate
9%
to
11%
Diluted EPS attributable to NIC
$2.75
to
$3.25
# of shares
~72.5M


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SEC Regulation G –
Fiscal Year Comparison
U.S. and Canada Industry
414,500
350,000
($billions)
Sales and revenues, net
$ 15 +
$ 20 +
($millions)
Manufacturing segment profit*
$ 1,600
Below the line items
Income excluding income tax
Income tax expense
(298)
Net Income attributable to Navistar International Corporation (NIC)
Diluted earnings per share ($'s) attributable to NIC
$12.31
Weighted average shares outstanding: diluted
(millions)
*Includes: non-controlling interest in net income of subsidiaries
Original Target
@
414.5k Industry
Revised Target
@
350k Industry
$ 1,780
(590)
~ 72.5
$892
~ 72.5
(500)
1,100
(275)
$825
$11.46
1,190
Manufacturing Segment Profit is not in accordance with, or an alternative for, U.S. generally accepted accounting principles (GAAP). The non-GAAP financial information presented herein should
be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.  However, we believe that non-GAAP reporting, giving effect to
the adjustments shown in the reconciliation above, provides meaningful information and therefore we use it to supplement our GAAP reporting by identifying items that may not be related to the
core manufacturing business.  Management often uses this information to assess and measure the performance of our operating segments. We have chosen to provide this supplemental
information to investors, analysts and other interested parties to enable them to perform additional analyses of operating results, to illustrate the results of operations giving effect to the non-GAAP
adjustments shown in the above reconciliations and to provide an additional measure of performance.