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.
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.
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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.
