— 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.
— 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!
These fast-food stocks can strengthen your portfolio this year. Here’s why
For American restaurant chains, the early months of the pandemic were a challenging period. But soon things changed for the better as people started ordering their favorite food items online
What to expect when McCormick & Company (MKC) reports Q1 results next week
Shares of McCormick & Company, Incorporated (NYSE: MKC) were up over 2% on Friday. The stock has dropped 12% year-to-date. The condiments manufacturer is scheduled to report its first quarter 2023
KB Home (KBH) Earnings: 1Q23 Key Numbers
KB Home (NYSE: KBH) reported total revenues of $1.38 billion for the first quarter of 2023 which was relatively flat compared to the same period last year. Net income of
Comments are closed.