Shares of Thor Industries Inc. fell after hours Monday after the RV maker forecast full-year profit and sales that missed expectations, adding that it...
Shares of Thor Industries Inc. THO, +2.03% fell after hours Monday after the RV maker forecast full-year profit and sales that missed expectations, adding that it expected subdued consumer demand to continue in the months ahead.
Management said it expected full-year sales of $10.5 billion to $11.0 billion, with earnings per share of $6.25 to $7.25, compared to FactSet forecasts for $10.86 billion and $7.12, respectively. Shares were down 1.7% after hours. The forecast comes as the RV industry tries to adjust to waning RV demand, after the pandemic spurred greater enthusiasm for outdoor activity. Thor reported fiscal fourth-quarter net income of $91.3 million, or $1.68 a share, well down from $281.8 million, or $5.15 a share, in the same quarter last year. Revenue fell to $2.74 billion from $3.82 billion in the prior-year quarter. Analysts polled by FactSet expected Thor to report earnings per share of 95 cents on sales of $2.43 billion. Chief Executive Bob Martin cited “mixed economic data and consumer trends that are expected to continue into fiscal 2024,” but said the RV maker would “continue to take a very disciplined approach to production planning” as it tries to manage costs to be better-positioned for an industry rebound.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Immortal Thor #2 Preview: Thor's Greatest Trial YetIn Immortal Thor 2, Thor faces destruction, sort of like you do when you realise it's Monday. Too melodramatic? Well, you’ll find out on the 27th!
Read more »
Quantum Computing Inc. selects ASU Research Park as site for photonic chip foundryQuantum Computing Inc. has selected ASU Research Park as the future home of its new quantum photonic chip foundry.
Read more »
BMO financial group gives $1 million to Homeboy Industries in Los Angeles‘We are helping more people in more ways than ever,’ says Homeboy Industries CEO Thomas Vozzo.
Read more »
Alphabet Inc. Cl A stock rises Monday, outperforms marketShares of Alphabet Inc. Cl A inched 0.66% higher to $131.11 Monday, on what proved to be an all-around favorable trading session for the stock market, with...
Read more »
Apple Inc. stock rises Monday, outperforms marketShares of Apple Inc. inched 0.74% higher to $176.08 Monday, on what proved to be an all-around positive trading session for the stock market, with the NASDAQ...
Read more »