Coachmen Industries Inc. has warned Wall Street that its second quarter earnings will be below stock market analysts estimates because of “a downturn in motorhome demand.”
Otherwise, Coachmen reported its second quarter towable RV sales were “relatively flat compared to last year.”
Earlier, analysts generally expected Coachmen to earn 43 cents a share during the second quarter. At least two analysts now estimate Coachmen will earn 39 cents a share.
Meanwhile, Coachmen’s disappointing earnings caused the price of Thor Industries Inc.’s stock to rise Monday morning. Shortly before noon Eastern Time, Thor stock was up 1 7/32, or 5.8%, to 22 3/16.
Coachmen stock was down 1/16 to 11 7/16.
Thor attempted to takeover Coachmen during May and although Thor’s effort was unsuccessful then, Thor apparently has not given up on its plan to combine with Coachmen, according to industry sources.