RV manufacturer Thor Industries (NYSE:THO) will be reporting earnings tomorrow morning. Here’s what to look for.
THOR Industries beat analysts’ revenue expectations by 1.1% last quarter, reporting revenues of $2.02 billion, down 8.6% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates.
Is THOR Industries a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting THOR Industries’s revenue to decline 6.3% year on year to $2.62 billion, a further deceleration from the 4.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.79 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. THOR Industries has missed Wall Street’s revenue estimates four times over the last two years.
Looking at THOR Industries’s peers in the automobile manufacturing segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Rivian delivered year-on-year revenue growth of 3%, beating analysts’ expectations by 24.3%, and Ford reported a revenue decline of 5%, topping estimates by 4.3%. Rivian traded down 5.7% following the results while Ford was up 2.5%.
Read our full analysis of Rivian’s results here and Ford’s results here.
There has been positive sentiment among investors in the automobile manufacturing segment, with share prices up 5.4% on average over the last month. THOR Industries is up 7.1% during the same time and is heading into earnings with an average analyst price target of $86 (compared to the current share price of $79.79).
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