Thor Industries (THO) Reports Q1 EPS of $0.92

Thor Industries (NYSE: THO) reported Q1 EPS of $0.92, may not compare to the analyst estimate of $1.22. Revenue for the quarter came in at $2.16 billion versus the consensus estimate of $2.23 billion.

Outlook:

"We are optimistic about our prospects for improved results in fiscal 2020, particularly following such a solid start to the fiscal year," Bob Martin continued. "Attendance and feedback from recent shows in Düsseldorf, Germany; Hershey, Pennsylvania; Fontana, California; and our Open House in Elkhart, Indiana, have been very positive.

"We expect the independent dealer inventory rationalization to be complete by the end of the calendar year, and believe this process, in both North America and Europe, has largely run its course.

"Consistent with our comments from last quarter, our outlook for North American markets is to remain relatively flat, or decline modestly, in fiscal 2020, barring a significant macroeconomic change, with the potential for better results should retail demand strengthen. For the European retail market, we expect to see modest growth similar to fiscal 2019.

"Finally, at our recent Investor Day in Germany, we introduced our long-term financial goals. We believe we will achieve $14 billion in annual net sales, attain sustainable gross margins of 16%, and generate more than $3 billion in cumulative net cash from operations by the end of fiscal 2025. We believe that the long-term outlook for the RV industry and for Thor Industries is compelling, and we look forward to regularly reporting on our progress toward these goals," Martin concluded.

For earnings history and earnings-related data on Thor Industries (THO) click here.

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