Better Than We Thor-t

Better-than-expected earnings pushed recreational vehicle (RV) maker Thor Industries higher.

The company’s fiscal fourth-quarter earnings per share came in at $5.15, well ahead of estimates of $3.81. Additionally, its sales of $3.82 billion came in above estimates of $3.69 billion. 💪

The company said North America towable sales increased 3.8%, while North America motorized RV sales rose 24.5%. However, European RV sales suffered a drop of 16.8%, given the economic challenges and weaker currency the region is facing.

Given the high level of uncertainty, the company said it will provide its full-year 2023 guidance in conjunction with its first-quarter results. 📅

Investors appear pleased with the results, with the stock holding above its year-to-date lows and rising 4.06% today. 👍

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Earnings Recap – 11/10/22

There have been some very ugly post-earnings charts this week. And today, much of the company news we heard wasn’t great either, but the market backdrop helped many of them rally.

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A Big Box Surprise

Yesterday we discussed investors’ fear that expectations may still be too high ahead of the holiday shopping season. Layoffs at Amazon and FedEx sparked speculation that retailers could be due for a rude awakening.

However, today’s Walmart and Home Depot results painted a slightly different picture. 🖼️

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