Airbnb Inc ABNB Shares are under selling pressure after analysts uncovered some workforce headwinds ahead of the company. If people don’t stay in someone else’s house that often, where the hell are they supposed to go?
Some may opt for the forest, the beach, or even random parking lots. At least Thor Industries Inc THO Demand trends seem to indicate that consumers are more willing to venture out without a destination.
What you should know: Thor is an American manufacturer of recreational vehicles (RVs). The company slightly topped expectations this week when it reported first-quarter earnings per share of $2.53 on quarterly revenue of $3.11 billion. Analysts were expecting earnings of $1.70 per share on sales of $2.86 billion.
Although the company acknowledged that the RV market has been negatively impacted by macroeconomic headwinds, the company has a proven track record of resilience in economic downturns.
“And we expect fiscal 2023 results to be no different,” the company said.
Long-term sentiment among independent dealers and consumer demand for RVs remains positive, Thor Industries said.
Check this out: Jeff Bezos backed Airbnb prior to its IPO, he also invested in this company
In contrast, Morgan Stanley announced an imminent slowdown for Airbnb after delving deeply into the company’s supply and occupancy metrics and noting several headwinds.
Morgan Stanley noted that active listings grew about 12% annually from 2018 through 2022, but the company expects that to slow to about 7% over the next three years.
Morgan Stanley believes the slowdown in supply will create occupancy headwinds and lower demand for appointment rooms.
“While we expect occupancy rates to improve in the future, we’re struggling to see faster improvement than in the past,” Morgan Stanley wrote in a note to clients.
ABNB, THO Price Action: At the time of writing, Airbnb shares are down 3.93% to $89.46 and Thor shares are down 0.73% to $83.39, according to Benzinga Pro.
Photo: Steve Adcock from Pixabay.