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Thor Industries profit misses consensus by 18.5% in fiscal Q1

Thor Industries Inc. said its normalized net income for the fiscal first quarter ended Oct. 31 was 66 cents per share, compared with the S&P Capital IQ consensus estimate of 81 cents per share.

EPS increased year over year from 65 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $35.4 million, an increase from $34.5 million in the year-earlier period.

The normalized profit margin dropped to 3.8% from 4.3% in the year-earlier period.

Total revenue climbed 15.3% year over year to $922.0 million from $800.0 million, and total operating expenses climbed 16.1% on an annual basis to $866.0 million from $746.0 million.

Reported net income grew 7.6% year over year to $39.0 million, or 73 cents per share, from $36.2 million, or 68 cents per share.