Shares of Thor Industries (NYSE: THO), a leading manufacturer of recreational vehicles (RVs), went up over 21% Monday morning after the company released fourth-quarter results that beat estimates on the bottom line.
While Thor Industries beat on the bottom line, and its stock price is soaring during early morning trading, its top line checked in shy of estimates: Total sales came in at $2.31 billion, just short of analysts' estimates calling for $2.33 billion. Breaking down the top line miss further, North American Towable RV sales dropped 18% to $1.16 billion, below estimates of $1.21 billion, while North American motorized RV sales declined 8% to $387.4 million, beating estimates of $357.2 million. Thor's recent acquisition of EHG, one of Europe's largest RV manufacturers, also disappointed with sales at just under $720 million compared to estimates calling for $767 million. Net income landed at $92.1 million, or $1.67 per share, well ahead of analysts' estimates of $1.47 per share.
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