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Thor Reports Q4 EPS Flat With Prior Year; Sales Up 23.3%

Thor Industries, Inc. (THO) reported net income attributable to company of $92.1 million or $1.67 per share, for the fourth quarter. The company's results were impacted by certain acquisition-related items. During the fourth quarter, Thor incurred expenses related to the acquisition of EHG, which impacted earnings by $0.03 per share. Other ongoing expenses related to the acquisition of EHG further impacted earnings by $0.57 per share. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $1.43, for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter net sales rose 23.3 percent to $2.31 billion, including $719.5 million in net sales from Erwin Hymer Group, which was acquired on February 1, 2019. Analysts expected revenue of $2.35 billion for the quarter.

"For fiscal 2020, we expect to see strong top-line growth with the addition of a full year of net sales from EHG, but since the dealer inventory adjustment may continue through the first half of our fiscal year, our outlook is for a flat to modest decline in the North American markets in the near-term," said Bob Martin, Thor CEO.

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