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Thor Industries Inc. Down 1.83% To $82.47 After Earnings Beat

Wednesday, December 07, 2022 02:03 PM | InvestorsObserver Analysts

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Thor Industries Inc. Down 1.83% To $82.47 After Earnings Beat

Thor Industries, Inc. (THO) reported better than expected earnings this morning for Q1 2023.

Thor Industries Inc.'s earnings came in at an EPS of $2.53 per share, 49.00% higher than estimates for an EPS of $1.7 per share. The firm's earnings are down 42% since reporting $4.34 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Revenues were upbeat at $3.1 billion. That represents a 21.48% decrease in revenues from the year-ago report and is 8.67% higher than consensus estimates set at $2.9 billion.

The stock is down 1.83% to $82.47 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Thor Industries Inc. a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 25. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Thor Industries Inc is a manufacturer of recreational vehicles through its subsidiaries. The company reports through three segments: North American towable recreational vehicles, North American motorized recreational vehicles, and European recreational vehicles. The North American towable RV business segments operations by brand: Airstream, Heartland, Jayco, Keystone, and KZ. North American motorized RV does the same through the Airstream, Jayco, and Thor Motor Coach brands. Thor's European RV business consists solely of the Erwin Hymer Group, which manufactures both towable and recreational vehicles in Europe. EHG's operations include miscellaneous RV-related products and services. Across all segments, the firm distributes its RVs to independent dealers.

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