Coachmen Industries Inc., announced today (Oct. 18) that its third quarter earnings “may be as much as 10 cents below (stock market) analysts’ expectations.”
Wall Street, on average, was expecting Coachmen to earn 24 cents a share during the three months ended Sept. 30, according to research firm First Call/Thomson Financial.
Coachmen, a New York Stock Exchange-listed company, blamed the downturn in motorhome shipments for its disappointing earnings.
Shipments of Coachmen travel trailers remains strong, although shipments of other towable RVs are down from a year ago, the company added.
During the first half of this year, RVs accounted for 80% of Coachmen’s sales revenue. Modular construction accounted for the other 20%, according to the company.