Thor Industries Reports Q3 EPS Miss, Revenue Beat; BofA Cuts Target to $96
Summary
Thor Industries reported a Q3 adjusted EPS of $1.86, missing analyst estimates, while revenue of $2.78 billion beat expectations despite a 3.9% year-over-year decline. This follows the company's June 3rd disclosures of declining Q3 sales and earnings, and a significant cut to its full-year EPS guidance to $3.30-$3.80. In response, Bank of America has cut its price target for THO to $96 from $120 per share. The specific earnings miss and analyst downgrade confirm the ongoing challenges in the recreational vehicle market.
At the time of this announcement, THO was trading at $74.85 on NYSE in the Manufacturing sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $69.71 to $122.83. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.