THOR Industries (THO) reported its third-quarter net income at $114.5 million, translating to $2.13 per share, down from $120.7 million and $2.24 per share in the same period last year. On average, 12 analysts surveyed by Thomson Reuters had forecasted earnings of $1.85 per share for the quarter. Typically, analysts’ estimates exclude special items.
Consolidated net sales for the quarter were $2.80 billion, a decline from $2.93 billion the previous year. Analysts had projected revenue of $2.73 billion on average.
Looking ahead to fiscal 2024, THOR Industries has adjusted its net sales expectations to a range of $9.8 billion to $10.1 billion, down from the previously expected range of $10.0 billion to $10.5 billion. Earnings per share are now anticipated to be between $4.50 and $4.75, revised from the earlier forecast of $5.00 to $5.50. Analysts expect the company to report earnings per share of $5.19 on revenues of $10.17 billion.
