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Thor Industries Q4 Profit Jump 31%

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Recreation vehicle provider, Thor Industries Inc. (NYSE: THO) announced after the market close on Thursday that fiscal fourth quarter profit rose 31% as sales soared at its motorized vehicle segment, offsetting a modest improvement in towable vehicle segment.

Thor Industries has been consistently posting improved quarterly results for more than a year. Earlier in July, the company sold its bus business to Allied Specialty Vehicles in an all-cash deal valued $100 million as it wanted to focus on its core recreational vehicle business.

“The recent actions we’ve taken to divest non-core businesses and expand our RV business through acquisition leave us optimistic about the future of Thor,” said Chief Executive Officer Bob Martin to investors in a conference call.

For the latest period ended July 31, Thor Industries posted a net income of $58.2 million or $1.09 a share compared to a profit of $44.4 million or 84 cents a share, in the year-earlier quarter. Stripping out earnings from discontinued operations, non-GAAP earnings stood at $1.04 a share up from 77 cents a share. Analysts’ consensus estimate was for earnings of 95 cents a share, according to a data compiled by Thomson Reuters.

Revenue from continued operations leaped 19% to $914 million.

In August, the Company projected revenue of $1.02 billion (Including revenue from discontinued operations), which was higher than analysts’ expectation of $995 million.

Gross margin improved to 15.3% from 13.3%.

 








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Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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