Stock Monitor: Winnebago Industries Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 17, 2018 / Active-Investors.com has just released a free earnings report on Thor Industries, Inc. (NYSE: THO) ("Thor"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=THO. The Company reported its second quarter fiscal 2018 operating and financial results on March 07, 2018. The recreational vehicle maker outperformed revenues expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Winnebago Industries, Inc. (NYSE: WGO), which also belongs to the Consumer Goods sector as the Company Thor Industries. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Thor Industries most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the second quarter of the fiscal year 2018, ended January 31, 2018, Thor announced revenues of $1.97 billion, up 24% compared to $1.59 billion in Q2 FY17. The Company's revenue numbers beat analysts' estimates of $1.91 billion.
During Q2 FY18, Thor's gross profit increased 27.7% to $270.3 million on a y-o-y basis. As a result of the strength of revenues and production during the reported quarter, as well as operating efficiencies and process improvements attained in the past year, primarily by Jayco, the Company's gross profit margin increased to 13.7% in the reported quarter compared to 13.3% in the prior year's same period.
Thor's net income and diluted earnings per share (EPS) were $79.8 million and $1.51, respectively, in Q2 FY18, compared to $64.8 million and $1.23, respectively, in Q2 FY17. The Company's EPS, adjusted for pre-tax expenses, were $1.92 in Q2 FY18; beating Wall Street's expectations of $1.82.
Towable RVs - During Q2 FY18, Thor's Towable RV segment's sales were $1.37 billion, up 26.9% from $1.08 billion in the prior year's comparable period, driven primarily by a continued strong demand for the Company's more affordably-priced travel trailers and fifth wheels.
The Towable RV segment's income before tax was $116.7 million, up 49.7% from $78.0 million in Q2 FY17. This increase was driven primarily by the increase in sales; improved gross margins due to improved operating efficiencies and process improvements, primarily by Jayco; decreased selling, general, and administrative expenses (SG&A) as a percentage of revenues; and slightly lower amortization expenses.
The Towable RV segment's backlog increased $493.1 million, or 37.3%, to $1.82 billion compared to $1.32 billion at the end of Q2 FY17, reflecting the continued momentum and demand for the Company's travel trailers in advance of the spring selling season.
Motorized RVs - For Q2 FY18, Thor's Motorized RV segment's sales were $559.9 million, up 17.9% from $475.0 million in Q2 FY17. The increase in the Motorized RV segment's sales was a result of the ongoing growth in the Company's more moderately-priced gas Class A and Class C motorhomes, both of which continue to be in high demand by dealers and end consumers.
During Q2 FY18, the Motorized RV segment's income before tax was $37.5 million, up 31.8% from $28.5 million in Q2 FY17, driven primarily by the growth in motorized sales and improved gross margins due to improved operating efficiencies, primarily by Jayco.
The Motorized RV segment's backlog increased by $214.9 million, or 28.0%, to $981.8 million at the end of Q2 FY18 from $766.9 million in Q2 FY17, reflecting the continued strong demand for the Company's smaller, affordably-priced gas Class A and Class C motorhomes.
As of January 31, 2018, Thor held $109.8 million of cash. During H1 FY18, the Company invested over $63.0 million on various capital projects that support its existing businesses and will further increase capacity across the Company's product lines, while working capital increased $118.0 million. Thor also continued to reduce the outstanding balance under its credit facility, paying down $65.0 million during H1 FY18 to exit with $80.0 million outstanding as of January 31, 2018, compared to $145.0 million outstanding as of July 31, 2017.
Subsequent to the end of Q2 FY18, Thor made a $46.9 million investment in a newly created joint venture, named TH2. TH2 was formed to own, improve, and sell innovative and comprehensive digital platforms throughout the RV marketplace. This investment was funded by cash on hand at the closing in early March 2018.
Stock Performance Snapshot
April 16, 2018 - At Monday's closing bell, Thor Industries' stock fell 2.48%, ending the trading session at $104.88.
Volume traded for the day: 1.71 million shares, which was above the 3-month average volume of 1.03 million shares.
Stock performance in the past twelve-month period - up 17.30%
After yesterday's close, Thor Industries' market cap was at $5.58 billion.
Price to Earnings (P/E) ratio was at 12.03.
The stock has a dividend yield of 1.41%.
The stock is part of the Consumer Goods sector, categorized under the Recreational Vehicles industry. This sector was up 0.4% at the end of the session.
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