Thor Industries Inc. (NYSE:THO) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Thor Industries Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.13% to $0.82 in the quarter versus EPS of $0.78 in the year-earlier quarter.
Revenue: Rose 13.25% to $1.05 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Thor Industries Inc. reported adjusted EPS income of $0.82 per share. By that measure, the company missed the mean analyst estimate of $0.88. It missed the average revenue estimate of $1.05 billion.
Quoting Management: “Thor generated strong gains in both revenues and net income during the third quarter, based on continuing strength in our RV business and stability in our bus business,” said Peter B. Orthwein, Thor Chairman and CEO. “Our results for the third quarter reflect the dealer optimism and improved retail consumer demand that has been building since the beginning of the year, which is now entering peak seasonal demand for our RV products. Based on the current positive momentum we see in our markets, we are confident in our ability to generate growth in sales and earnings for the remainder of the year.”
Key Stats (on next page)…
Revenue increased 41.48% from $741.6 million in the previous quarter. EPS increased 121.62% from $0.37 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.98 to a profit $0.94. For the current year, the average estimate has moved down from a profit of $2.90 to a profit of $2.82 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)