3 Stocks to Watch on Thursday: Rev Group Inc (REVG), Thor Industries, Inc. (THO) and Tronc Inc (TRNC)


U.S. equities were mixed Wednesday following overnight weakness, despite a strong performance from tech stocks. The S&P 500 Index fell 0.1%, the Dow Jones Industrial Average slipped 0.3% and the Nasdaq Composite surged 0.3%.

3 Stocks to Watch on Thursday: Rev Group Inc (REVG), Thor Industries, Inc. (THO) and tronc Inc (TRNC)Several companies reported their quarterly earnings results after the bell, including Rev Group Inc (NYSE:REVG), Thor Industries, Inc. (NYSE:THO) and Tronc Inc (NASDAQ:TRNC).

Here’s how these companies did:

Rev Group Inc (REVG)

Rev Group unveiled its latest quarterly results late yesterday.

The company announced a net sales growth of 16% compared to the year-ago quarter for its first quarter of fiscal 2018. Net income came in at $9.4 million for the period, marking a 171% gain year-over-year.

Rev Group’s first-quarter adjusted net income amounted to $9.7 million, or 15 cents per share. This figure is about 72% higher than the year-ago quarter. Adjusted EBITDA was $21.3 million, a 0.9% pop year-over-year.

The company reaffirmed its full-year net sales fiscal 2018 outlook of $2.4 billion to $2.7 billion and adjusted EBITDA of $200 million to $220 million. Rev Group also updated its full-year fiscal 2018 net income guidance to a range of $90 million to $110 million and its adjusted net income to a range of $110 million to $125 million.

REVG stock was up 4.2% after hours yesterday.

Thor Industries, Inc. (THO)

Thor Industries reported on its latest quarter after hours Wednesday.

The company unveiled adjusted earnings of $1.51 per share on its fiscal second-quarter results yesterday. Analysts were calling for earnings to jump 48% year-over-year to $1.82 per share, according to Zacks Investment Research.

Thor Industries performed better on the revenue front, where the company raked in $1.97 billion, marking a 24% surge compared to the year-ago quarter. The Wall Street consensus estimate projected revenue of $1.91 billion, per Zacks.

“Retail lending standards are also healthy and credit is broadly available to credit-worthy consumers with reasonable down payments and normal length of term options available,” Thor said in an SEC filing. “The retail RV delinquency rate remains low and is significantly below the average delinquency rate of closed-end consumer loans.”

THO stock gained 3.8% after the bell Wednesday.

Tronc Inc (TRNC)

Tronc announced its quarterly results after the bell, which missed expectations.

The company unveiled fourth-quarter net losses of $373 million, or 1 cent per share, compared with net income of $19.4 million, or 53 cents per share in the year-ago quarter. Adjusted earnings came in at 30 cents per share.

Tronc’s net income was hit hard by a one-time $10.8 million reduction in deferred tax assets linked with the changes in the U.S. tax law. Analysts were calling for adjusted earnings of 65 cents per share, according to FactSet.

The company brought in revenue of $435 million for the period, a $9.6 million gain compared to the year-ago quarterly revenue. Wall Street was projecting revenue of $424 million, per FactSet.

TRNC stock was trading flat after the bell Wednesday.

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

Article printed from InvestorPlace Media, https://investorplace.com/2018/03/3-stocks-watch-thursday-rev-group-inc-revg-thor-industries-inc-tho-tronc-inc-trnc/.

©2023 InvestorPlace Media, LLC