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Thor (THO) Delivers 9th Straight Earnings Beat in Q3, Stock Up
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Thor Industries, Inc.’s (THO - Free Report) shares inched up around 1% yesterday, after the company delivered a comprehensive beat for third-quarter fiscal 2022 (ended Apr 30, 2022). The recreational vehicle (RV) maker posted adjusted earnings of $6.32 per share, which beat the Zacks Consensus Estimate of $4.97. This outperformance can be attributed to higher-than-anticipated revenues across North American Towable and Motorized RVs segments. The bottom line jumped 92% from the year-ago profit of $3.29 per share. The company registered revenues of $4,657.5 million for the quarter under review, topping the Zacks Consensus Estimate of $4,173 million. The top line also surged 34.6% year over year.
Thor Industries, Inc. Price, Consensus and EPS Surprise
North American Towable RVs: Revenues from the segment came in at $2,640.1 million, surging 53% 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 $2,263 million. Pretax profit totaled $326.7 million, up from $167.7 million recorded in the year-ago period, thanks to higher sales and improved gross profit margins. At quarter-end, the unit’s total backlog was $6.9 billion, declining from $7.4 billion as of Apr 30, 2021.
North American Motorized RVs: Revenues from the segment totaled $1,053 million, which soared 35.8% year over year, thanks to higher unit sales and the Tiffin Group buyout benefits. The top line also outpaced the consensus mark of $986 million. Pretax profit came in at $116.3 million, up from $54.8 million recorded in the year-ago period. Backlog in the segment was $4.1 billion, up from $3.5 billion as of Apr 30, 2021.
European RVs: Revenues from the segment came in at $724 million, down 19% from the year-ago period. The top line also missed the consensus mark of $870 million. The segment incurred a pretax income of $20.6 million, lower than the year-ago level of $44 million. The backlog of the segment was $2.8 billion, reflecting a drop from $3.3 billion recorded on Apr 30, 2021.
Financials and Consolidated Backlog
As of Apr 30, 2022, Thor had cash and cash equivalents of $331.9 million and long-term debt of $1983.6 million. Consolidated backlog as of quarter-end was $13.88 billion, reflecting a year-over-year decline of 3%. Thor currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Whispers for Winnebago
Thor’s closest peer Winnebago Industries (WGO - Free Report) is expected to report fiscal third-quarter 2022 results soon. Winnebago surpassed earnings estimates in the last four quarters, with an average of 27.1%. Our proven model, however, does not conclusively predict an earnings beat for WGO this time around because the company doesn’t have the right combination of a positive Earnings ESP and a favorable Zacks Rank.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Winnebago has an Earnings ESP of -1.27% and a Zacks Rank #5 (Strong Sell). The Zacks Consensus Estimate for WGO’s to-be-reported quarter’s earnings and revenues is pegged at $3.01 per share and $1.2 billion, respectively.
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Thor (THO) Delivers 9th Straight Earnings Beat in Q3, Stock Up
Thor Industries, Inc.’s (THO - Free Report) shares inched up around 1% yesterday, after the company delivered a comprehensive beat for third-quarter fiscal 2022 (ended Apr 30, 2022). The recreational vehicle (RV) maker posted adjusted earnings of $6.32 per share, which beat the Zacks Consensus Estimate of $4.97. This outperformance can be attributed to higher-than-anticipated revenues across North American Towable and Motorized RVs segments. The bottom line jumped 92% from the year-ago profit of $3.29 per share. The company registered revenues of $4,657.5 million for the quarter under review, topping the Zacks Consensus Estimate of $4,173 million. The top line also surged 34.6% year over year.
Thor Industries, Inc. Price, Consensus and EPS Surprise
Thor Industries, Inc. price-consensus-eps-surprise-chart | Thor Industries, Inc. Quote
Segmental Results
North American Towable RVs: Revenues from the segment came in at $2,640.1 million, surging 53% 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 $2,263 million. Pretax profit totaled $326.7 million, up from $167.7 million recorded in the year-ago period, thanks to higher sales and improved gross profit margins. At quarter-end, the unit’s total backlog was $6.9 billion, declining from $7.4 billion as of Apr 30, 2021.
North American Motorized RVs: Revenues from the segment totaled $1,053 million, which soared 35.8% year over year, thanks to higher unit sales and the Tiffin Group buyout benefits. The top line also outpaced the consensus mark of $986 million. Pretax profit came in at $116.3 million, up from $54.8 million recorded in the year-ago period. Backlog in the segment was $4.1 billion, up from $3.5 billion as of Apr 30, 2021.
European RVs: Revenues from the segment came in at $724 million, down 19% from the year-ago period. The top line also missed the consensus mark of $870 million. The segment incurred a pretax income of $20.6 million, lower than the year-ago level of $44 million. The backlog of the segment was $2.8 billion, reflecting a drop from $3.3 billion recorded on Apr 30, 2021.
Financials and Consolidated Backlog
As of Apr 30, 2022, Thor had cash and cash equivalents of $331.9 million and long-term debt of $1983.6 million. Consolidated backlog as of quarter-end was $13.88 billion, reflecting a year-over-year decline of 3%. Thor currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings Whispers for Winnebago
Thor’s closest peer Winnebago Industries (WGO - Free Report) is expected to report fiscal third-quarter 2022 results soon. Winnebago surpassed earnings estimates in the last four quarters, with an average of 27.1%. Our proven model, however, does not conclusively predict an earnings beat for WGO this time around because the company doesn’t have the right combination of a positive Earnings ESP and a favorable Zacks Rank.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Winnebago has an Earnings ESP of -1.27% and a Zacks Rank #5 (Strong Sell). The Zacks Consensus Estimate for WGO’s to-be-reported quarter’s earnings and revenues is pegged at $3.01 per share and $1.2 billion, respectively.