Thor Industries Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended July 31, 2016; Provides Earnings Guidance for the Fiscal Year 2017
September 26, 2016 at 04:15 pm
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Thor Industries Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended July 31, 2016. For the quarter, the company reported net sales of $1,292,636,000 against $1,058,156,000 a year ago. Income from continuing operations before income taxes was $123,451,000 against $97,491,000 a year ago. Net income from continuing operations was $82,846,000 against $68,989,000 a year ago. Net income was $82,772,000 against $68,967,000 a year ago. Diluted earnings per common share from continuing operations was $1.57 against $1.31 a year ago. Diluted earnings per common share was $1.57 against $1.31 a year ago.
For the year, the company reported net sales of $4,582,112,000 against $4,006,819,000 a year ago. Income from continuing operations before income taxes was $383,313,000 against $292,895,000 a year ago. Net income from continuing operations was $258,022,000 against $202,009,000 a year ago. Net income was $256,519,000 against $199,385,000 a year ago. Diluted earnings per common share from continuing operations was $4.91 against $3.79 a year ago. Diluted earnings per common share was $4.88 against $3.74 a year ago.
The company announced that continued strength in the RV market and an ongoing shift toward more moderately priced towable and motorized products, as well as a full year 2017 of revenues from Jayco, is expected to result in double-digit revenue growth in fiscal 2017.
THOR Industries, Inc. is a manufacturer of recreational vehicles (RVs). The Company operates through three segments: North American Towable Recreational Vehicles, North American Motorized Recreational Vehicles and European Recreational Vehicles. The North American Towable Recreational Vehicles segment consists of Airstream (towable), Heartland (including Cruiser RV and DRV), Jayco (including Jayco towable, Starcraft and Highland Ridge), Keystone (including CrossRoads and Dutchmen), and KZ (including Venture RV). The North American Motorized Recreational Vehicles segment consists of Airstream (motorized), Jayco (including Jayco motorized and Entegra Coach), Thor Motor Coach and the Tiffin Group. The European Recreational Vehicles segment consists of the EHG business. EHG manufactures a full line of motorized and towable recreational vehicles, including motorcaravans, campervans, urban vehicles and caravans in eight RV production facilities within Europe.
Thor Industries Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended July 31, 2016; Provides Earnings Guidance for the Fiscal Year 2017