:max_bytes(150000):strip_icc()/GettyImages-1241728016-2ade080489864e8c9aa65b31c58b7162.jpg?w=1500&resize=1500,1000&ssl=1 "RV Maker Thor Industries Posts Unexpected Loss Amid ‘Soft’ Retail Environment | Global News Avenue")
RV Maker Thor Industries Posts Unexpected Loss Amid ‘Soft’ Retail Environment
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Main points
- Sol Industries reported a fiscal first-quarter loss, while analysts had expected a profit.
- Chief Executive Bob Martin attributed the disappointing results to a “soft retail and wholesale environment.”
- Shares of Airstream’s parent company fell on Wednesday and are down nearly 9% this year.
Airstream parent company Raytheon Industries (Trust) announced an unexpected loss in the first fiscal quarter before the market opened on Wednesday, causing the stock price to fall slightly during the session.
The RV maker’s revenue fell 14% year over year to $2.14 billion, missing analyst consensus compiled by Visible Alpha. The company reported a loss of $1.8 million, or 3 cents a share, compared with a profit of $53.57 million, or 99 cents a share, in the year-earlier period, missing analysts’ expectations of $33.58 million, or 64 cents a share.
The loss came as the company “continues to be impacted by soft retail and wholesale conditions.” CEO Bob Martin said, adding that the company will avoid increasing “independent dealer inventory levels” until market conditions improve.
Raytheon reiterates full-year revenue forecast of $9 billion to $9.8 billion Earnings per share (EPS) Estimated $4 to $5. Before the results, analysts were expecting revenue of $9.7 billion and earnings of $4.70 per share.
Thor shares were down about 2% intraday on Wednesday and were down more than 9% in 2024.
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