TRG Thompson Research group

Date Published

Report Title

May 2012

5/18/12

WGO - Quick Take on North Street Capital's Bid for WGO

5/18/12

RV Industry - March Towable Retail Sales

5/16/12

RV Industry - March Motorized Retail Sales

5/3/12

DW Q1'12 Earnings Snapshot

5/3/12

THO Q3'12 Preliminary Revenues

April 2012

4/25/12

RV Industry - March Wholesale Shipments Increase 2.2%

4/18/12

RV Industry - February RV 2012 Towable Retail Sales Up 7.7%

4/12/12

RV Industry - February RV Retail Sales Skewed by Class C Rental Orders

4/2/12

RV Industry - Q1'2012 RV Dealer Survey - No Surprise That Warm Weather Drove Sales

March 2012

3/26/12

RV Industry - January Wholesale Shipments Increase 24.2%, But How Much is Discounting?

3/19/12

RV Industry - January 2012 Towable Retail Sales Fall 10.1%

3/16/12

WGO - Q2'12 Earnings Miss Driven by Margins

3/14/12

THO - Q2'12 Earnings Recap

3/14/12

RV Industry - January 2012 Motorized Retail Sales Slip 6.7%

February 2012

2/29/12

RV Industry - December Retail & Wholesale Unit Trends

2/28/12

RV Industry - January Wholesale Shipments Increase 5.1%

2/16/12

DW - Q4'11 Post Conference Call Takeaways

2/14/12

RV Industry - December Motorized Retail Sales Surge

2/13/12

DW - Q4'11 Earnings Snapshot

2/3/12

RV Industry - November Retail & Wholesale Unit Trends

2/3/12

THO - Q2'12 Preliminary Revenues Ahead of Expectations

January 2012

1/23/12

THO & Private RV Dealer Marketing Points to Slightly Better Consumer

1/17/12

November Towable Retail Sales Show "More of the Same"; FL RV Super Show Feedback

1/17/12

RV Industry - Q4'11 RV Dealer Survey - Sales Mediocre; Recent Traffic Trends Better

December 2011

12/29/11

RV Industry - November Wholesale Shipments Increase 21.6% YOY

12/28/11

RV Industry - October Retail & Wholesale Unit Trends

12/15/11

WGO - Q1'12 Earnings Miss Driven By Continued Margin Weakness

12/2/11

RV Industry - Industry "Cautiously Optimistic" about 2012

November 2011

11/29/11

THO - Q1'12 Earnings Miss on Continued Discounting

11/28/11

RV Industry - October Wholesale Shipments Increase 15.1% YOY

11/28/11

RV Industry - Pre-Louisville Dealer Survey

11/18/11

RV Industry - September Retail & Wholesale Unit Trends

11/7/11

DW - Q3'11 Post Conf Call Takeaways

11/3/11

THO - Q1'12 Preliminary Revenues

11/2/11

DW - Q3'11 Miss As Investments in Revenue Growth Pressure Margins

October 2011

10/26/11

RV Industry - September Wholesale Shipments Increase 1.8% YOY

10/25/11

RV Industry - August Retail & Wholesale Unit Trends

10/25/11

WGO - Updating Estimates Post Q4'11 Earnings

10/13/11

WGO - Q4'11 Earnings Beat on Tax Benefit and Marginally Better Top Line

10/7/11

RV Industry - Q3'11 RV Dealer Survey - Key Indicator Showing Stable Demand

September 2011

9/29/11

THO - Q4'11 Earnings Snapshot, Updating Estimates

9/27/11

RV Industry - August Wholesale Shipments Decline 2.3% YOY

9/20/11

RV Industry - July Retail & Wholesale Unit Trends

August 2011

8/26/11

RV Industry - July Wholesale Shipments Decline 9.1% YOY

8/23/11

RV Industry - June Retail & Wholesale Unit Trends

8/3/11

THO - Q4'11 Preliminary Revenues Disappoint

8/2/11

DW - Q2'11 Post Conference Call Takeaways

8/1/11

DW - Q2'11 Earnings Snapshot

July 2011

7/29/11

RV Industry - Q2'11 RV Dealer Survey - Stalling Retail Growth Pressuring Mfg. Orders

7/27/11

RV Industry - June Wholesale Shipments Showing Signs of Retail Pause

7/22/11

RV Industry - May Towable Retail Sales Increase 1.6% YOY

7/14/11

RV Industry - May Motorhome Retail Sales Decline 2.9% YOY

June 2011

6/29/11

RV Industry - May 2011 RV Shipments Increase 13.1%; Driven By Towable Shipments

6/20/11

RV Industry - April Towable Retail Sales Increase 2.9% YOY

6/17/11

WGO - Closing the Barn Door Post Q3'11 Earnings; Downgrading to Hold Until Fundamentals Improve

6/16/11

WGO - Q3'11 Earnings A Disaster

6/16/11

THO - Dark Clouds Forming In The Horizon For RV Demand

6/16/11

RV Industry - April Motorhome Retail Sales Decline 6.4% YOY

6/9/11

THO - Q3'11 Earnings Beat, Margins Still in Question

May 2011

5/31/11

April 2011 RV Shipments Flat YOY; Still Positive on WGO Q3'11 Estimates

5/20/11

RV Industry - March Towable Retail Sales Decrease 3.0%

5/18/11

March Motorhome Retail Sales - WGO Class A Continues to Outperform, Up 10.2% vs. 2.3% Industry Decrease - Reiterate Buy rating of WGO

5/17/11

THO's Motorized Revenue Up 23% in April, Positive Read Through on WGO

5/4/11

THO - Q3'11 Preliminary Revenues Yield No Surprises

5/3/11

DW - Q1'11 Post Conference Call Takeaways

5/2/11

DW - Q1'11 Earnings Snapshot

April 2011

4/26/11

RV Industry - March 2011 RV Shipments Spring Back, Up 14.6% YOY

4/15/11

RV Industry - February Towable Retail Sales Increase 4.4%, Dampened by Difficult Weather

4/12/11

RV Industry - Feb 2011 Motorhome Retail Sales Decline 15.2% YOY; WGO Outperforms, Up 7.4%

4/6/11

RV Industry - Q1'11 RV Dealer Survey - Easier Retail Financing Supporting Sales

March 2011

3/28/11

RV Industry - February 2011 RV Shipments Highlighted by Class A Strength

3/21/11

RV Industry - January 2011 Towable Retail Sales Incresase 13.5%

3/17/11

WGO - Q2'11 a Healthy Beat; Q1,Q2 Sequential Increase in Backlogs the First Since FY'07

3/16/11

THO - Lowering Estimates Post Q2'11 Earnings

3/14/11

RV Industry - January 2011 Motorhome Retail Sales Increase 2.9% YOY; WGO Outperforms

3/11/11

THO - Q2'11 Earnings A Miss

3/3/11

RV Industry - January 2011 RV Shipments; Positive Retail Commentary from the Field

February 2011

2/23/11

RV Industry - December 2010 Towable Retail Sales Increase 8.8% YOY

2/17/11

RV Industry - December 2010 Motorhome Retail Sales Increase 1.8% YOY

2/16/11

DW - Q4'10 Post Conference Call Take-Aways

2/15/11

DW - Q4'10 Earnings Snapshot

2/3/11

THO - Q2'11 Preliminary Results

January 2011

1/27/11

RV Industry - December 2010 RV Shipments Surge, Driven by Pre-Show Buying

1/18/11

RV Industry - Florida RV SuperShow Feedback; November Towable Retail Sales Increase 13.0%

1/11/11

RV Industry - November 2010 Motorhome Retail Sales Increase 6.6% YOY

December 2010

12/27/10

RV Industry - November 2010 RV Shipments Continue to Highlight Relative Motorized Strength

12/20/10

RV Industry - October Towable Retail Sales Increase 8.6%, Adjusting THO Numbers

12/17/10

WGO - Q1'11 Post Conference Call Takeaways

12/16/10

WGO - Q1'11 A Meaningful Beat

12/16/10

RV Industry - October 2010 Motorhome Retail Sales Flat YOY

12/2/10

RV Industry - Retail Trends the Primary Focus at the RVIA Louisville Show

November 2010

11/30/10

THO - Q1'11 Earnings Muddled by One-Time Charges

11/29/10

RV Industry - October 2010 RV Shipments Flat YOY

11/23/10

RV Industry - Pre-Louisville Dealer Survey Points to Modest Optimism

11/18/10

RV Industry - September 2010 Towable Retail Sales Increase 14.7%

11/10/10

RV Industry - September 2010 Motorhome Retail Sales, WGO and THO Significantly Outperform in Class A and Class C, Respectively

11/3/10

THO - Q1'11 Preliminary Results Point to Slowing Seasonal Trends

11/1/10

DW - Q3'10 Post Conference Call Takeaways

11/1/10

DW - Q3'10 Earnings Snapshot

October 2010

10/27/10

RV Industry - September 2010 RV Wholesale Shipments Decrease

10/18/10

RV Industry - August Towable Retail Sales Increase 7.2%, WGO Announces Letter of Intent, Downgrading DW

10/18/10

WGO - Q4'10 Conference Call Takeaways

10/14/10

WGO - Q4'10 Earnings Snapshot

10/12/10

RV Industry - August 2010 RV Motorhome Retail Sales

10/6/10

THO - Updating Estimates and Downgrading on Valuation

September 2010

9/29/10

THO - Q4'10 Earnings A Beat

9/27/10

RV Industry - August RV Wholesale Shipments Still Up, Comps Getting Challenging

9/21/10

RV Industry - July 2010 Towable Retail Sales Increase 1.7%

9/15/10

RV Industry - July 2010 Motorhome Retail Sales Decrease 5.3%

9/7/10

RV Industry - Q3'10 RV Dealer Survey Reveals Some Surprising Results

August 2010

8/27/10

RV Industry - July 2010 RV Wholesale Shipments

8/17/10

RV Industry - June 2010 Towable Retail Sales

8/10/10

RV Industry - June 2010 Motorhome Retail Sales

8/04/10

THO - Q4'10 Preliminary Numbers

8/03/10

DW - Q2'10 Post Conference Call Takeaways

8/02/10

DW - Q2'10 Earnings Snapshot

July 2010

7/26/10

RV Industry - June 2010 RV Wholesale Shipments Increase 72.6%

7/21/10

RV Industry - May 2010 Towable Retail Sales Increase 5.9%

7/13/10

RV Industry - May 2010 Motorhome Retail Sales Increase 6.2%

7/02/10

THO - No Accounting Issues, Raising Rating to Buy

June 2010

6/28/10

RV Industry - May 2010 Wholesale Shipments Increase 83.5%

6/22/10

RV Industry - April 2010 Towable Retail Sales Increase 10.4%

6/18/10

WGO - Q3'10 Post Conference Call Takeaways

6/15/10

RV Industry - April 2010 Motorhome Retail Sales Fall 5.3%

6/11/10

THO - Q3'10 Earnings Street Response; Shoot First, Ask Questions Later

6/04/10

RV Industry - Q2'10 RV Dealer Survey; Towable Momentum Continued, Upgrading DW

May 2010

5/26/10

RV Industry - April 2010 RV Wholesale Shipments

5/19/10

RV Industry - March 2010 Towable Retail Sales

5/14/10

RV Industry - March 2010 Motorhome Retail Sales Essentially Flat

5/06/10

DW - Q1'10 Post Conference Call Takeaways

5/05/10

THO - Preliminary Q1'10 Numbers

April 2010

4/28/10

RV Industry - March 2010 RV Wholesale Shipments Increase 87.5%; Raising DW Estimates

4/16/10

RV Industry - February 2010 Towable Retail Sales Fall 15.0%

4/12/10

RV Industry - February 2010 Motorhome Retail Sales fall 13.1%

4/6/10

RV Industry - Q1’10 RV Dealer Survey Shows Signs of Improvement

March 2010

3/29/10

RV Industry - February 2010 RV Wholesale Shipments Increase 95.1%

3/19/10

WGO - Q2’10 Shows Margin Improvement; Retail Still The Focus

3/18/10

RV Industry - Jan 2010 Towable Retail Snapshot; Downgrading DW on Valuation, Adjusting THO Estimates

3/12/10

RV Industry – January 2010 Motorhome Retail Sales fall 14.0%

3/9/10

THO - Q2'10 Earnings Snapshot

February 2010

2/26/10

RV Industry– January 2010 RV Wholesale Shipments Surge 116%

2/18/10

DW - Q4’09 Highlighted By Confirmation of RV Improvement

2/17/10

RV Industry - December 2009 Towable Retail Sales Increase 4.9%

2/10/10

RV Industry - December 2009 Motorhome Retail Sales fall 8.2%

January 2010

1/26/10

RV Industry - December 2009 RV Wholesale Shipments Surge 150%

1/19/10

RV Industry - Florida RV Super Show Confirms Improvement

1/15/10

RV Industry - November 2009 Towable Retail Sales Fall 4.9%

1/13/10

RV Industry - November 2009 Motorhome Retail Sales fall 6.7%

1/5/10

THO - Updating Estimates Following Share Repurchases

December 2009

12/29/09

RV Industry - November 2009 RV Wholesale Shipments Surge 128.3%

12/18/09

WGO - Q1’10 Backlogs Exceed Expectations, Signals Greater Visibility

12/18/09

RV Industry - October 2009 Towable Retail Sales Fall 24.2%

12/15/09

RV Industry - October 2009 Motorhome Retail Sales fall 28.2%

12/2/09

RV Industry - Finance Contacts Confirm Better Retail Trends in Louisville

November 2009

11/27/09

RV Industry - October 2009 RV Wholesale Shipments Surge 23.0%

11/18/09

RV Industry - Pre-Nat’l Trade Show Dealer Survey; "As long as there's a Grand Canyon, there will be an RV industry”

11/13/09

RV Industry - September 2009 Motorhome Retail Sales fall 24.0%

11/03/09

DW - BUY Q3’09 Earnings Yields Upside

October 2009

10/27/09

RV Industry - September 2009 RV Wholesale Shipments Rise 13.0%

10/19/09

RV Industry - August 2009 RV Towable Retail Sales Show Improvement

10/15/09

WGO - BUY Reports Q4’09 EPS of ($0.19); Focus on Backlogs, Volume Outlook

10/13/09

RV Industry - August 2009 Motorhome Retail Sales fall 22.8%

10/1/09

THO - BUY Q4’09 Upside Recap; Modestly Bumping Up Numbers

September 2009

09/29/09

RV Industry - THO Blows Away Q4’09; Upgrading WGO

09/27/09

RV Industry - Eureka! August 2009 RV Wholesale Shipments Rise 5.3%

09/23/09

RV Industry - July 2009 RV Towable Retail Sales

09/22/09

RV Industry - Upgrading THO, DW On Retail Show Strength, Production Visibility

09/18/09

RV Industry - Q3’09 RV Dealer Survey: Light At The End Of The Tunnel?

09/15/09

RV Industry - July 2009 Motorhome Retail Sales fall 27.3%

August 2009

08/26/09

RV Industry - July 2009 RV Wholesale Shipments

08/20/09

RV Industry - June 2009 Towable Retail Sales

08/17/09

RV Industry - June 2009 Motorhome Retail Sales

08/13/09

RV Industry - THO Investor Meetings and Plant Tours

08/4/09

THO - Preliminary Q4'09 Revs, Backlogs Ahead of Expectations

July 2009

07/31/09

DW - Q2’09 Earnings Yields Upside

07/27/09

RV Inudstry - June 2009 RV Wholesale Shipments

07/21/09

RV Industry - May 2009 Towable Retail Sales

07/14/09

RV Industry - May 2009 Motorhome Retail Sales

June 2009

06/29/09

RV Industry - May 2009 RV Wholesale Shipments

06/22/09

RV Industry - April 2009 RV Towable Retail Sales

06/19/09

WGO - Reports Q3’09 EPS of ($0.29)

06/17/09

RV Industry - April 2009 RV Motorhome Retail Sales

06/10/09

THO - Q3’09 Operating EPS of $0.15 Ahead of Expectations

06/03/09

Q2'09 RV Dealer Survey - 06/03/09

May 2009

05/11/09

DW - Initiating Coverage; Q1’09 Results- 05/11/09

05/5/09

THO - Q3'09 Preliminary Results