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Sept. 28, 2022, 6:47 a.m. EDT

Thor Industries stock jumps after big profit beat, amid strength in motorized RV sales

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By Tomi Kilgore

Shares of Thor Industries Inc. /zigman2/quotes/202832948/composite THO -2.00% shot up 4.6% in premarket trading Wednesday, after the recreational vehicle maker reported a big profit beat for the fiscal fourth-quarter, as sales rose above forecasts and margins improved. Net income for the quarter to July 31 climbed to $280.9 million, or $5.15 a share, from $230.3 million, or $4.12 a share, in the year-ago period. That FactSet consensus for earnings per share was $3.81. Sales grew 6.4% to $3.82 billion, above the FactSet consensus of $3.69 billion. North America towable sales increased 3.8% to $1.80 billion and North America motorized RV sales rose 24.5% to $1.02 billion, while Europe RV sales dropped 16.8% to $809.7 million. Gross profit margin improved by 0.90 percentage points to 17.5%. For fiscal 2023, the company said there remains "a level of uncertainty" with respect to economic growth and consumer demand. Thor said it will provide full-year guidance in conjunction with first-quarter results. The stock, which closed Monday at the lowest price since April 2020, has tumbled 30.9% year to date through Tuesday while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.62% has shed 23.5%.

/zigman2/quotes/202832948/composite
US : U.S.: NYSE
$ 78.35
-1.60 -2.00%
Volume: 721,917
Dec. 8, 2022 3:40p
P/E Ratio
4.20
Dividend Yield
2.28%
Market Cap
$4.28 billion
Rev. per Employee
$483,200
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/zigman2/quotes/210599714/realtime
US : S&P US
3,958.47
+24.55 +0.62%
Volume: 0.00
Dec. 8, 2022 3:40p
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