THOR Industries Falls On Earnings Miss, Lowered Outlook

(RTTNews) - Shares of THOR Industries, Inc. (THO) are falling more than 13 percent Wednesday morning after reporting lower second-quarter results, below analysts' view. The recreational vehicles maker also cut its full-year outlook.

Net income for the second quarter declined to $7.2 million or $0.13 per share from $27.1 million or $0.50 per share a year ago. On average, 11 analysts polled by Thomson-Reuters were expecting earnings of $0.67 per share.

Sales for the quarter declined to $2.21 billion from $2.35 billion in the previous year. The consensus estimate was for $2.27 billion.

The company now expects full-year net sales in the range of $10.0 billion to $10.5 billion, down from the previous outlook of $10.5 billion to $11.0 billion. Earnings per share for the year has been lowered to $5.00 to $5.50 from $6.25 to $7.25.

Analysts expect the company to report earnings of $6.69 per share on revenue of $10.65 billion for the year.

THO, currently at $109.06, has traded in the range of $105.51 - $110.63 in the last 1 year.