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Thor (THO) Q2 Earnings & Sales Surpass Estimates, Up Y/Y
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Thor Industries, Inc. (THO - Free Report) reported second-quarter fiscal 2021 (ended Jan 31, 2021) adjusted earnings of $2.38 per share, which beat the Zacks Consensus Estimate of $1.60. This outperformance can be attributed to higher-than-anticipated revenues across all its segments. The bottom line also jumped 357.6% from the year-ago profit of 52 cents per share.
This recreational vehicle (RV) maker registered revenues of $2,727.8 million for the quarter under review, topping the Zacks Consensus Estimate of $2,548 million. Moreover, the top line recorded a 36.2% year-over-year increase.
As of Jan 31, 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 $186.5 million and a long-term debt of $1,821.5 million. Consolidated backlog totaled $10.81 billion at quarter-end, representing a 280% 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 $1,373 million, up 39.6% 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 $1,272 million. Pretax profit totaled $147.9 million, up from $53.4 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 $5.25 billion, which skyrocketed 454.1% from the year-ago period.
North American Motorized RVs: Revenues from the segment totaled $577 million, which reflected year-over-year growth of 67.9% on the back of higher unit sales, and favorable product and price mix. The top line also outpaced the consensus mark of $416 million. Pretax profit came in at $43.4 million, up from $14.9 million recorded in the year-ago period. Backlog in the segment summed $2.92 billion, up a whopping 271.8% from the year-ago period.
European RVs: Revenues from the segment came in at $733.5 million, up 15.1% 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 $660 million. The segment incurred a net profit of $10.2 million, higher than the year-ago level of $4.7 million backed by higher sales, and lower labor and warranty costs. Backlog of the segment was $2.64 as of Jan 31, depicting year-over-year growth of 131.5%.
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Thor (THO) Q2 Earnings & Sales Surpass Estimates, Up Y/Y
Thor Industries, Inc. (THO - Free Report) reported second-quarter fiscal 2021 (ended Jan 31, 2021) adjusted earnings of $2.38 per share, which beat the Zacks Consensus Estimate of $1.60. This outperformance can be attributed to higher-than-anticipated revenues across all its segments. The bottom line also jumped 357.6% from the year-ago profit of 52 cents per share.
This recreational vehicle (RV) maker registered revenues of $2,727.8 million for the quarter under review, topping the Zacks Consensus Estimate of $2,548 million. Moreover, the top line recorded a 36.2% year-over-year increase.
As of Jan 31, 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 $186.5 million and a long-term debt of $1,821.5 million. Consolidated backlog totaled $10.81 billion at quarter-end, representing a 280% 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 $1,373 million, up 39.6% 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 $1,272 million. Pretax profit totaled $147.9 million, up from $53.4 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 $5.25 billion, which skyrocketed 454.1% from the year-ago period.
North American Motorized RVs: Revenues from the segment totaled $577 million, which reflected year-over-year growth of 67.9% on the back of higher unit sales, and favorable product and price mix. The top line also outpaced the consensus mark of $416 million. Pretax profit came in at $43.4 million, up from $14.9 million recorded in the year-ago period. Backlog in the segment summed $2.92 billion, up a whopping 271.8% from the year-ago period.
European RVs: Revenues from the segment came in at $733.5 million, up 15.1% 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 $660 million. The segment incurred a net profit of $10.2 million, higher than the year-ago level of $4.7 million backed by higher sales, and lower labor and warranty costs. Backlog of the segment was $2.64 as of Jan 31, depicting year-over-year growth of 131.5%.
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
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