Despite Income Dip, Thor Shares Increase 21%
Despite reporting lower profits for its fiscal fourth quarter, Jackson Center, Ohio-based Thor Industries Inc. stirred an upbeat mood from investors today (Sept. 29) as the company beat market expectations.
Thor shares ended the day up $4.29, representing a 21% increase.
• TradersHuddle.com reported Thor stock was experiencing “unusually high volume early in the trading session,” adding, “the buyers are stepping in, as the stock’s volume is already above average.”
• RTT News said that in spite of a drop in profit for the fourth quarter on weak gross margins that offset improved sales, both earnings and revenues for the quarter came in ahead of Street expectations.
• In a note to investors, Robert W. Baird & Co. reported that “Thor beat guarded expectations on better margins and a lower tax rate.”