Categories Earnings, LATEST

Thor Industries (NYSE: THO): Q1 2020 Earnings Snapshot

— Thor Industries Inc. (NYSE: THO) reported its first-quarter 2020 earnings of $0.92 per share versus $1.23 per share expected.

— Net sales grew by 23% to $2.16 billion versus $2.23 billion expected. This was due to the inclusion of $493 million in net sales from Erwin Hymer Group, which was acquired on February 1, 2019.

Earnings Update by AlphaStreet

— North American Towable RV sales declined by 6% due to lower unit shipment volume, as independent dealers continued to reduce their inventory levels. North American Motorized RV sales decreased by 4% due primarily to a shift in product mix towards lower-priced products.

— European RV sales were $493.0 million for the first quarter. European RV backlog was $1.29 billion as of October 31, 2019, reflecting current levels of demand within the European market.

— Thor expects the independent dealer inventory rationalization to be complete by the end of the calendar year and believes this process, in both North America and Europe, has largely run its course.

— The outlook for North American markets is to remain relatively flat, or decline modestly, in fiscal 2020, barring a significant macroeconomic change, with the potential for better results should retail demand strengthen.

— For the European retail market, the company expects to see modest growth similar to fiscal 2019.

— The company believes to achieve $14 billion in annual net sales, attains sustainable gross margins of 16%, and generates more than $3 billion in cumulative net cash from operations by the end of fiscal 2025.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Electronic Arts (EA) Q4 earnings drop and miss estimates; revenue down 3%

Video game company Electronic Arts, Inc. (NASDAQ: EA) reported lower earnings and revenues for the fourth quarter of 2021. Earnings also missed analysts' forecast. During the March quarter, net bookings

What lies in store for Tyson Foods (TSN) this year?

Shares of Tyson Foods Inc. (NYSE: TSN) were in green territory during afternoon hours on Tuesday. The stock has gained 32% over the past 12 months and 23% since the

Virgin Galactic (SPCE) fails to impress market amid looming uncertainty

Space tourism company Virgin Galactic Holdings, Inc. (NYSE: SPCE) ended the first quarter of 2021 without generating revenue and continued the losing streak even as uncertainty over its test flight

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top