THO - Why Thor Industries Stock Drove Into a Ditch Today
2024-03-06 14:42:36 ET
Thor Industries (NYSE: THO) is sounding the alarm on recreational vehicle (RV) demand, and investors are taking the message to heart. Shares of Thor were down 13% as of 2 p.m. ET Wednesday after the manufacturer missed expectations and lowered full-year guidance.
Thor is the world's largest RV manufacturer, owner of brands including Airstream, Dutchmen, and Thor Motor Coach. The company earned $0.13 per share in its fiscal second quarter ending Jan. 31 on revenue of $2.21 billion, falling short of Wall Street's consensus forecast for $0.67 per share in earnings on $2.27 billion in sales.
Net income was $7.2 million, down from $27.1 million a year ago. But that figure includes a $14.7 million charge related to the company's debt refinancing efforts that does not appear to have been factored into the per-share estimates. Even without the charge, net income was down year over year and revenue fell 6% from the same three months of fiscal 2023.
For further details see:
Why Thor Industries Stock Drove Into a Ditch Today