Thor Industries, Inc. (NYSE:THO) posted market-beats fiscal second quarter profit and revenue, as sales of its RVs continued to soar amid strong demand from younger families.
Written by StockNews.com
The Elkhart, IN-based recreational vehicle (RV) maker reported Q2 EPS of $1.23, which was $0.01 better than the Wall Street consensus estimate of $1.22.
Revenues surged 62.9% from last year to $1.59 billion, also topping analysts’ view for $1.51 billion.
Thor noted that Towable RV sales gained 55% in the latest period, while Motorized RV sales jumped 95.6%.
The company commented via press release:
“Growing demand from new consumers broadening our market has continued, with younger families increasingly buying more affordably priced travel trailers and smaller motorhomes. These positive trends give us confidence that Thor and the industry will outpace volumes achieved in 2016, which was the best year of wholesale RV shipments since the 1970s. We remain convinced that these trends will continue to drive industry growth in future periods, as we provide new consumers with positive experiences that prompt them to become lifelong RVers.”
Despite the seemingly positive results, Thor Industries shares sold off in after-hours trading Monday, down $4.72 (-4.09%) to $110.70. Year-to-date, THO had gained 15.36% prior to today’s report, versus a 6.34% rise in the benchmark S&P 500 index during the same period.
THO currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #7 of 25 stocks in the Auto & Vehicle Manufacturers category.
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