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Thor Industries Earnings: THO Stock Climbs 7% Higher on EPS Beat

Thor Industries (NYSE:THO) earnings for the third quarter of fiscal year 2020 have THO stock ticking higher on Monday. This comes after reported revenue of $1.68 billion matched estimates from Wall Street. Also, the company’s adjusted earnings per share (EPS) of 43 cents crushed analysts’ expectations of a 26-cent loss for the quarter.

Thor Industries Earnings: THO Stock Climbs 7% Higher on EPS Beat

Source: Michael Gordon / Shutterstock.com

Additionally, the company reported GAAP EPS of 44 cents for the period.

Here is what else is worth mentioning from the most recent Thor Industries earnings report.

  • Per-share earnings were 27.1% less than 59 cents during Q3 2019.
  • However, note that last year’s Q3 per-share figure was impacted by “acquisition-related costs” to the tune of $1.06 per diluted share.
  • Revenue for the quarter comes in 33.1% lower compared to $2.51 billion during the same time last year.
  • The Thor Industries earnings report also includes a net income of $22.78 million.
  • That’s a 27.5% drop from $31.44 million during the third quarter of 2019.
  • The company also mentioned that its operating income year-to-date was $237.3 million.

Bob Martin, president and CEO of Thor Industries, said this about the THO stock earnings:

“Despite this being one of the most unusual quarters I have ever experienced, I am pleased to report that we were profitable and generated positive net cash from operations. Our financial position has remained strong as a result of numerous management-led actions that were executed quickly in conjunction with our temporary plant shut-downs in mid-March. Our results are the product of both the highly variable cost structure we have created and our ability to quickly align our production and cost structure to meet fast-changing market conditions.”

The company does not mention guidance for fiscal year 2020. However, since the end of Q3, it says the outlook has “markedly improved.”

THO stock was up 7% on Monday.

Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/06/thor-industries-earnings-tho-stock-climbs-7-higher-on-eps-beat/.

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