Categories AlphaGraphs, Consumer, Earnings

Thor Industries delivers a mixed bag in Q3

Thor Industries (NYSE: THO), a leading manufacturer of recreational vehicles, reported third-quarter net income of 59 cents per share, compared to $2.53 per share during the year-over period. The Q3 earnings include EHG acquisition-related costs of around $1.06 per share.

Excluding these costs, the company narrowly surpassed analysts’ expectation for the quarter.

thor industries Q3 2019 earnings results

Revenues gained 11% year-over-year to $2.51 billion, helped by a more stable sales environment in North America. However, this fell short of the street consensus of $2.63 billion, sending the stock down over 1% during pre-market trading.

Lower unit volume hurt sales in both the North American Towable RV as well as the North American Motorized RV segment. North American Towable RV sales fell to $1.24 billion from $1.61 billion in the prior-year period, while North American Motorized RV sales were $459.2 million, down from $598.5 million a year ago.

CEO Bob Martin said, “EHG made a significant contribution to our top-line results for the quarter, and as we move through some of the transitional costs, we look forward to EHG’s meaningful contribution to our bottom line as well.”

READ: Everything you need to know about Tesla (TSLA) stock

After falling to a multi-year low in December last year, shares of the Elkhart, Indiana-based firm showed signs of a recovery in early 2019. However, it pared the early gains as the year progressed. The stock lost about 47% in the past twelve months.

In what could be the warnings of a slowdown, the company in its recent statements hinted at cutting production to rein in the inventory imbalance. However, it is estimated that the dip in dealer demand will be short-lived. Thor’s solid production capacity, which got a boost after the acquisition of Jayco a few years ago, contributes to the inventory backlog.

Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

AVGO Earnings: Highlights of Broadcom’s Q4 2022 report

Chipmaker Broadcom, Inc. (NASDAQ: AVGO) Thursday reported better-than-expected earnings and revenues for the fourth quarter of 2022. Net profit was $10.45 per share in the final three months of the

COST Earnings: All you need to know about Costco Wholesale Corporation’s Q1 2023 earnings results

Costco Wholesale Corporation (NASDAQ: COST) reported first quarter 2023 earnings results today. Net sales increased 8.1% to $53.44 billion compared to the same period a year ago. Comparable sales were up

Three factors that bode well for Campbell Soup (CPB) in the current environment

Shares of Campbell Soup Company (NYSE: CPB) were up 1% on Thursday. The stock has gained 30% year-to-date and 34% over the past 12 months. The food company started the

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