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Yahoo
8 hours ago
- Business
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RV Maker Thor Industries Tops Estimates on North America Sales, Cost Controls
Thor Industries exceeded earnings and revenue forecasts as North American sales increased and it contained expenses. The recreational vehicle maker's product offerings, price, and promotions helped lift performance. Thor Industries affirmed its full-year of Thor Industries (THO) surged Wednesday after the recreational vehicle (RV) manufacturer reported better-than-expected results as North American demand and its efforts to reduce expenses boosted performance. The maker of Airstream and Jayco RVs posted fiscal 2025 third-quarter earnings per share (EPS) of $2.53 on revenue that rose 3% to $2.89 billion. Analysts surveyed by Visible Alpha expected $1.79 and $2.63 billion, respectively. North American Towable RV sales increased 9% to $1.17 billion, with units shipped growing 5.5% to 36,077. The company credits the gain on a 4% rise in net price per unit because of a greater proportion of fifth wheel units in its product mix. North American Motorized RV sales were 3% higher to $666.7 million, with units shipped jumping 11% to 5,507, driven by promotional activities. CEO Bob Martin said the company's "successful execution of key strategic initiatives, in particular placing further emphasis on driving down our cost profile, led to improved margins in an environment where we saw modest year-over-year top-line improvement." COO Todd Woelfer explained that Thor has taken "significant restructuring steps," and that those "will further optimize our enterprise structure and drive meaningful savings as the Company works to reduce its cost footprint." Woelfer added that while the company affirmed its full-year outlook, it recognizes "that potential swings from uncertainties in the macro environment could be significant," including the impact of tariffs. Woelfer noted that the guidance assumes "no new material shifts within the macro or global trade environment." Thor sees 2025 EPS of $3.30 to $4.00, and revenue of $9.0 billion to $9.5 billion. Despite today's 5% advance, Thor Industries shares are down nearly 10% year-to-date. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Deutsche Bank Goes Bullish on Luxury Brand Ralph Lauren's Stock
Deutsche Bank resumed coverage of Ralph Lauren Friday, giving its shares a "buy" rating and relatively bullish price target. The retailer's stock may even be on par with luxury European fashion houses, the analysts said. They think Ralph Lauren is poised to gain market share and expand across geographies and Lauren is a luxury brand with an appealing stock, according to Deutsche Bank analysts. The bank on Friday resumed coverage of Ralph Lauren (RL) with a 'buy' rating and a price target of $343—roughly 24% above where shares closed Thursday, and the second-highest tracked by Visible Alpha. The average price target among analysts that follow Ralph Lauren and polled by Visible Alpha was a bit above $327. 'We see [Ralph Lauren] as a market share gainer, with growth levers across geographies, channels, and categories more than offsetting reduced wholesale doors, ultimately positioning the brand closer to European luxury peers,' said Deutsche Bank. Ralph Lauren stands out thanks to its strong fundamentals, pricing power, and limited sourcing from China, analysts said. Exports from China are currently subject to a minimum 30% import tax in the U.S. Ralph Lauren said last week it was raising prices in North America this fall and assessing whether to increase them further as a way to offset the cost of tariffs. Still, the retailer an audience that spans entry-level and aspirational customers, as well as traditional luxury clientele, the analysts said. This allows Ralph Lauren to "capture consumers trading both up and down,' they said. Ralph Lauren had a strong holiday season, allowing the retailer to ease up on discounts and sending its stock to an all-time high in February. Shares have since come down, but remain up some 20% this year. Ralph Lauren stock closed Friday near $277. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Nvidia manages sales beat despite China restrictions hanging over AI chip giant
Nvidia weathered a storm of tariff uncertainty and export controls to exceed Wall Street's lofty expectations for sales when the AI chip behemoth reported quarterly earnings Wednesday. The hit to profits and margins came in worse than expected, however. Revenue increased 69% from the same period last year to $44.1 billion, surpassing the Street's projection of $43.3 billion, per Visible Alpha. Profits came in at $18.8 billion, though, falling from $22 billion last quarter and missing the $19.5 billion mark analysts expected. That meant Nvidia posted diluted earnings per share of $0.76, down from $0.89 last quarter and below the projected $0.79. 'Global demand for Nvidia's AI infrastructure is incredibly strong,' CEO Jensen Huang said in the earnings release. 'Countries around the world are recognizing AI as essential infrastructure—just like electricity and the internet—and Nvidia stands at the center of this profound transformation,' he added. The top-line results allowed investors to breathe a sigh of relief. Shares jumped over 4% to hit the $140 mark in extended trading Wednesday evening. Will Rhind, founder and CEO of ETF issuer GraniteShares, told Fortune the results assured traders that the AI trade remains intact. 'And I think that's, at the end of the day, what the bulls wanted to see,' said Rhind, whose firm manages leveraged and inverse ETFs for Nvidia and other companies. Nonetheless, gross margins dipped to 60%, falling below the 66% figure Wall Street had feared. Last quarter, CFO Colette Kress said the company expected margins to be in the low 70s to start the year as Nvidia continues to ramp up its next-generation Blackwell offering. Meanwhile, new restrictions on China chip sales will continue to hit revenue going forward. The company said it expects sales in the current quarter to come in at $45 billion, below the Street's $46 billion projection. Dave Wagner, portfolio manager at Aptus Capital Advisors, told Fortune he thought revenue guidance of $45 billion or higher would keep most investors in the stock. For the first time since the company stormed to prominence, he said before the call, it felt like Nvidia had a relatively low bar to clear. 'Sentiment seems a little bit lower,' he said. Scott Acheychek, the chief operating officer of Rex Financial, agreed that investors entered Wednesday's print guarded. 'I feel like nobody wanted to believe that it could be good,' he told Fortune after the earnings release. As Nvidia emerged as the first major darling of the AI boom—competing with Apple and Microsoft for the title of the world's largest company by market capitalization—the company's earnings calls became highly anticipated events for institutional and retail investors alike. Some of that buzz may have eased, however, as the stock's breakneck growth has waned. After skyrocketing 239% and 171% in 2023 and 2024, respectively—accounting for more than a fifth of the S&P 500's overall gain last year—Nvidia shares entered Wednesday's earnings down slightly year to date, trading just short of the $140 mark. They had climbed more than 40%, however, after plunging to as low as $94 amid President Donald Trump's chaotic tariff rollout in early April. Trade policy uncertainty is still hanging over the company. On April 9, the Trump administration told Nvidia it would require an export license for the H20 chip, a watered-down product the company specifically designed to comply with U.S. restrictions. Nvidia got caught a little blindsided, Thomas Martin, a partner and portfolio manager at Globalt Investments, told Fortune before the earnings call. 'Whether there's a market for them in China under this administration at all is a reasonable question,' he said. Nvidia said Wednesday it took a $4.5 billion charge to its inventory, slightly better than the $5.5 billion expected hit it had announced in April. The company said its guidance for the current quarter reflected a projected $8 billion loss in H20 revenue. With that in mind, Wednesday's results appear all the more impressive. 'I still think with this company being at the epicenter of AI demand and positive commentary about Blackwell's shipping, that's all that investors care about,' Logan Purk, a senior tech analyst at Edward Jones, told Fortune. Regardless, Nvidia is still the bellwether of the AI trade, and Huang has continuously touted ravenous demand for its new Blackwell infrastructure. Both tariffs and the surprise success of Chinese AI startup DeepSeek, which sparked questions about the seemingly insatiable demand for greater processing power, have yet to dent the AI spending wave, with Big Tech set to splash roughly $320 billion on capital expenditures this year. For now, that means companies continue to jostle to be first in line for the latest and greatest of what Nvidia has to offer. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Best Buy Stock Tumbles as Retailer Lowers Outlook on Tariffs Hit
Best Buy shares tumbled more than 8% to lead S&P 500 decliners Thursday after the electronics retailer lowered its full-year outlook because of tariffs. Best Buy gets a large portion of its products from China and Mexico, both of which have been hit by tariffs imposed by President Donald Trump. Best Buy shares are down by more than a fifth so far this Buy (BBY) shares tumbled more than 8% to lead S&P 500 decliners Thursday after the electronics retailer lowered its full-year outlook because of tariffs. The retailer now sees fiscal 2026 revenue between $41.1 billion and $41.9 billion, below its prior guidance of $41.4 billion to $42.2 billion; comparable sales ranging from down 1% to up 1%, versus flat to up 2.0%; and adjusted earnings per share (EPS) of $6.15 to $6.30, down from $6.20 to $6.60. Despite the cuts, the midpoints of Best Buy's new projections all were in line with or above Visible Alpha consensus estimates. "Today we are updating our full-year guidance to incorporate the impact of tariffs," Best Buy CFO Matt Bilunas said. "Our underlying working assumptions are that tariffs stay at the current levels for the rest of the year, and there is no material change in consumer behavior from the trends we have seen in recent quarters." Best Buy gets a large portion of its products from China and Mexico, both of which have been hit by the tariffs imposed by President Donald Trump. China accounted for 55% and Mexico 20% of the company's sourcing in its fiscal 2025, according to its annual report. The lowered full-year projections came as the retailer reported mixed first-quarter results, with adjusted EPS of $1.15 topping Visible Alpha estimates but revenue of $8.77 billion falling short. Comparable store sales fell 0.7% year-over year, far greater than the projected 0.2% decline. Best Buy shares are down nearly 25% this year. Read the original article on Investopedia
Yahoo
6 days ago
- Business
- Yahoo
Best Buy First-Quarter 2026 Financial Results: Just the Numbers
Best Buy (BBY) reported fiscal 2026 first-quarter results before the bell Thursday. A summary of its key numbers is below. Read the company's earnings press release here. Table Fiscal Q1 2026 Estimate* Q1 2025 Revenue $8.77B $8.80B $8.85B Net Income $202M $230.2M $246M EPS** $1.15 $1.09 $1.20 * Estimates reflect the pre-earnings means from Visible Alpha. ** Earnings per share reflect the company's reported non-GAAP figures. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
