Thor Industries Beats Q2 Estimates

Shares of Thor Industries THOR are bid lower in the after-hours following the release of the company's Q2 earnings results. Currently, shares are bid $30.54, at $31.75; they ended the regular session higher by 3.23%, at $31.98. Thor Industries reported Q2 EPS of $0.25 on revenues of $596.97 million; the Street was looking for $0.24 per share on revenues of $566.35 million. Revenues increased 13.4% year over year. "We are pleased to report improved earnings during the seasonally most difficult quarter of our fiscal year," said Peter B. Orthwein, Thor Chairman & CEO. "The Recreation Vehicle Industry Association recently revised its 2012 wholesale RV shipments forecast upward to a 5% improvement over 2011. We are also pleased with the strong retail activity we have seen over the first two months of 2012. However, factors tempering our optimism include continuing escalations in fuel prices as well as lingering discounting activity. We continue to see improvement in Thor's bus segment, with increased activity among transit and private bus customers driving increasing order backlogs." Thor Industries, Inc. manufactures and sells a range of recreation vehicles and small and mid-size buses in the United States and Canada.