Thor Industries, Inc. (THO - Free Report) reported third-quarter fiscal 2021 (ended Apr 30, 2021) adjusted earnings of $3.29 per share, which beat the Zacks Consensus Estimate of $2.36. This outperformance can be attributed to higher-than-anticipated revenues across all its segments. The bottom line also skyrocketed 665.1% from the year-ago profit of 43 cents per share.
This recreational vehicle (RV) maker registered revenues of $3,459.3 million for the quarter under review, topping the Zacks Consensus Estimate of $3,020 million. Moreover, the top line recorded a 105.7% year-over-year increase.
As of Apr 30, 2021, Thor — which shares space with Winnebago Industries (WGO - Free Report) , LCI Industries (LCII - Free Report) and Skyline Corporation (SKY - Free Report) — had cash and cash equivalents of $297.5 million and a long-term debt of $1,718.1 million. Consolidated backlog totaled $14.32 billion at quarter-end, representing a 550% jump from the year-ago period. Thor currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Segmental Results
North American Towable RVs: Revenues from the segment came in at $1,730 million, surging 123.7% year over year on the back of robust shipments and benefits from the Tiffin Group buyout. The top line also surpassed the Zacks Consensus Estimate of $1,427 million. Pretax profit totaled $167.7 million, up from $49.3 million recorded in the year-ago period, thanks to higher sales and improved gross profit margins. At quarter-end, total backlog of the unit was $7.43 billion, skyrocketing from $857.9 million as of Apr 30, 2020.
North American Motorized RVs: Revenues from the segment totaled $775.4 million, which reflected year-over-year growth of 193.7%, thanks to higher unit sales and the Tiffin Group buyout benefits. The top line also outpaced the consensus mark of $706 million. Pretax profit came in at $54.8 million, up from $10.9 million recorded in the year-ago period. Backlog in the segment summed $3.55 billion, jumping from $548 million as of Apr 30, 2020.
European RVs: Revenues from the segment came in at $894.2 million, up 45.3% from the year-ago period driven by higher unit shipments, favorable product mix and forex translations. The top line also beat the consensus mark of $812 million. The segment incurred a net profit of $44 million versus net loss of $0.2 million in the year-ago period. Backlog of the segment was $3.34 billion as of Apr 30, jumping from $803.5 million recorded on Apr 30, 2020.
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Thor Industries, Inc. (THO - Free Report) reported third-quarter fiscal 2021 (ended Apr 30, 2021) adjusted earnings of $3.29 per share, which beat the Zacks Consensus Estimate of $2.36. This outperformance can be attributed to higher-than-anticipated revenues across all its segments. The bottom line also skyrocketed 665.1% from the year-ago profit of 43 cents per share.
This recreational vehicle (RV) maker registered revenues of $3,459.3 million for the quarter under review, topping the Zacks Consensus Estimate of $3,020 million. Moreover, the top line recorded a 105.7% year-over-year increase.
As of Apr 30, 2021, Thor — which shares space with Winnebago Industries (WGO - Free Report) , LCI Industries (LCII - Free Report) and Skyline Corporation (SKY - Free Report) — had cash and cash equivalents of $297.5 million and a long-term debt of $1,718.1 million. Consolidated backlog totaled $14.32 billion at quarter-end, representing a 550% jump from the year-ago period. Thor currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Segmental Results
North American Towable RVs: Revenues from the segment came in at $1,730 million, surging 123.7% year over year on the back of robust shipments and benefits from the Tiffin Group buyout. The top line also surpassed the Zacks Consensus Estimate of $1,427 million. Pretax profit totaled $167.7 million, up from $49.3 million recorded in the year-ago period, thanks to higher sales and improved gross profit margins. At quarter-end, total backlog of the unit was $7.43 billion, skyrocketing from $857.9 million as of Apr 30, 2020.
North American Motorized RVs: Revenues from the segment totaled $775.4 million, which reflected year-over-year growth of 193.7%, thanks to higher unit sales and the Tiffin Group buyout benefits. The top line also outpaced the consensus mark of $706 million. Pretax profit came in at $54.8 million, up from $10.9 million recorded in the year-ago period. Backlog in the segment summed $3.55 billion, jumping from $548 million as of Apr 30, 2020.
European RVs: Revenues from the segment came in at $894.2 million, up 45.3% from the year-ago period driven by higher unit shipments, favorable product mix and forex translations. The top line also beat the consensus mark of $812 million. The segment incurred a net profit of $44 million versus net loss of $0.2 million in the year-ago period. Backlog of the segment was $3.34 billion as of Apr 30, jumping from $803.5 million recorded on Apr 30, 2020.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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