Shares of Thor Industries Inc. (NYSE:THO) jumped 9.2% in early trading on Wednesday after the recreational vehicle giant delivered stronger-than-expected results for its fiscal third quarter.
For the quarter ending April 30, the company reported adjusted earnings of $2.53 per share, well ahead of Wall Street’s estimate of $1.76. Revenue also came in above expectations, reaching $2.89 billion compared to the projected $2.6 billion.
Thor’s total net sales rose 3.3% year-over-year, while net income climbed 18.1% to $135.2 million. The company credited much of this growth to robust performance in its North American towable RV segment, which posted a 9.1% increase in sales.
President and CEO Bob Martin attributed the strong quarter to effective execution of strategic cost-reduction initiatives. “Our third quarter results outpaced expectations across the board,” Martin said. “We focused on improving our cost structure, which helped boost margins even in a relatively flat demand environment.”
Looking ahead, Thor reaffirmed its full-year fiscal 2025 guidance, forecasting revenue between $9.0 billion and $9.5 billion, and earnings per share in the range of $3.30 to $4.00. Analyst consensus currently expects earnings of $3.47 per share on $9.23 billion in revenue.
Operationally, the company generated $257.7 million in cash from operations during the quarter. As of April 30, Thor had total liquidity of approximately $1.49 billion, including $508.3 million in cash.