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Thor Industries, Inc. Stock Soars on Strong Q1 Earnings

Thor Industries, Inc. (NYSE:THO) stock was soaring on Tuesday with the release of its earnings report for its fiscal first quarter of 2018.

Thor Industries, Inc. Stock Soars on Strong Q1 Earnings

Source: Shutterstock

Thor Industries, Inc. reported earnings per share of $2.43 for its fiscal first quarter of 2018. This is a major boost over its earnings per share of $1.49 from the same period of the year prior. It was also a blessing to THO stock by beating out Wall Street’s earnings per share estimate of $1.56 for the quarter.

Net income reported by Thor Industries, Inc. in its fiscal first quarter of the year was $128.41 million. Net income from the same time in fiscal 2017 came in at $78.76 million.

Revenue reported by Thor Industries, Inc. in its fiscal first quarter of 2018 was $2.23 billion. The RV company reported revenue of $1.71 billion during its fiscal first quarter of 2017. Analysts were looking for THO to report revenue of $1.80 billion in its fiscal first quarter of 2018.

Thor Industries, Inc. reported Towable RV sales of $1.62 billion in its fiscal first quarter of 2018. This is up roughly 34% from its Towable RV sales of $1.21 billion from the same time last year. Motorized RV sales for the period were $566.6 million, which is up about 23% from the $461.5 million reported in the same quarter of the previous year.

“As of October 31, 2017, we held $151.5 million of cash,” Colleen Zuhl, Senior Vice President and CFO of Thor Industries, Inc., said in a statement. “During the quarter, we invested $34.3 million on various capital projects that support our existing businesses and will further increase capacity across our product lines, while working capital increased $41.1 million to support our seasonal needs.”

THO stock was up 13% as of Tuesday afternoon and is up 53% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/thor-stock-soars-on-q1-earnings/.

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