Monaco Coach Corp. reports its third quarter earnings declined 13% despite a 15% increase in sales.
The motorhome and towable RV manufacturer earned $9.8 million during the three months ended Sept. 30, compared with $11.2 million earned a year earlier.
Meanwhile, the company’s sales revenue totaled $226.4 million during the July-through-September period, compared with $196.7 million a year earlier.
During the nine months ended Sept. 30, Monaco’s earnings were up 4% to $33.9 million and its sales were up 17% to $690.5 million.
“We view the current state of industry retail demand as an opportunity to continue market share gains,” said Kay Toolson, chairman and CEO. “Our Class A (motorhome retail) market share increased from 11.3% through August last year to 14.1% through August this year. Our high-end diesel motorhomes remain in strong demand and the company’s Class A diesel market share increased to 26.1% through August this year, up from 22.6% through August of last year.”
Monaco has adopted a strategy intended “to ensure that we maintain our high presence on dealers’ lots,” said John Nepute, executive vice president and CFO. “Secondly, we are utilizing special retail incentives to assist our dealers’ sales efforts and to keep inventory turning at the retail level.
“We feel our resulting market share gains indicate that these steps have been successful,” Nepute said.