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    Tristan Thomas Martin

    Senior Equity Analyst at BMO Capital Markets

    Tristan Thomas-Martin is a Senior Equity Analyst at BMO Capital Markets specializing in the automotive and leisure products industries, with a focus on companies such as Winnebago Industries, Thor Industries, AutoZone, O'Reilly Automotive, Polaris, LCI Industries, Patrick Industries, and Advance Auto Parts. He has achieved an 83.33% success rate with an average return of 8.42% on his stock recommendations, and is rated 4.32 stars as a professional analyst. Since joining BMO Capital Markets in 2016, he has covered a range of major auto and leisure companies and previously worked at Newbridge. He holds relevant FINRA securities licenses and has established a track record for insightful coverage and effective market calls.

    Tristan Thomas Martin's questions to BRP (DOOO) leadership

    Tristan Thomas Martin's questions to BRP (DOOO) leadership • Q2 2026

    Question

    Tristan Thomas Martin of BMO Capital Markets asked about the expected channel inventory levels at year-end and how dealers are planning their orders for new products. He also sought clarification on the phrase 'investing in other sectors'.

    Answer

    CFO Sébastien Martel stated that year-end inventory levels are expected to be similar to current Q2 levels, with a focus on reducing snowmobile inventory. CEO José Boisjoli added that orders for snowmobiles are on hand, PWC booking is on plan, and ORV orders are taken monthly with confidence in meeting targets. Martel clarified that 'investing in other sectors' is still centered around the powersports industry.

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    Tristan Thomas Martin's questions to Camping World Holdings (CWH) leadership

    Tristan Thomas Martin's questions to Camping World Holdings (CWH) leadership • Q2 2025

    Question

    Tristan Thomas Martin from BMO Capital Markets followed up on pricing strategy, asking about the outlook for product mix and pricing in 2026. He also inquired about the conditions that would prompt the company to become more aggressive with M&A.

    Answer

    Chairman & CEO Marcus Lemonis emphasized a flexible strategy that adapts to consumer demand, whether that means moving up or down in price point. He expects ASPs to grow in 2026. Regarding M&A, Lemonis clarified they are never on 'pause' but are currently prioritizing capital for deleveraging and organic growth in used inventory and Good Sam, calling it a better return. However, he stated an opportunistic deal could be announced at any time. President Matthew Wagner added that a key strategy is lowering the consumer's monthly payment to expand the buyer pool.

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    Tristan Thomas Martin's questions to WINNEBAGO INDUSTRIES (WGO) leadership

    Tristan Thomas Martin's questions to WINNEBAGO INDUSTRIES (WGO) leadership • Q3 2025

    Question

    In a follow-up question, Tristan Thomas Martin of BMO Capital Markets asked about the specific factors driving the strong performance of the Newmar brand in a challenged market and whether those strategies could be applied to the core Winnebago Motorhome brand.

    Answer

    CEO Michael Happe attributed Newmar's success to a strong product line, particularly in Class A diesel, successful expansion into the Super C category, and highly disciplined dealer inventory management. He noted that while Newmar is a distinct premium brand, the core principles of product value, dealer partnership, and operational discipline are lessons that can be applied across the entire portfolio.

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    Tristan Thomas Martin's questions to HARLEY-DAVIDSON (HOG) leadership

    Tristan Thomas Martin's questions to HARLEY-DAVIDSON (HOG) leadership • Q1 2025

    Question

    Tristan Thomas Martin of BMO Capital Markets asked how the shift of some model year '26 launches to the fall of 2025 will impact the expected quarterly sales and shipment cadence.

    Answer

    CFO and President of Commercial Jonathan Root stated that the company would not provide specific cadence details, especially after withdrawing guidance. However, he emphasized that the shift is not an opportunity to 'load up dealers with inventory' and that they do not envision a 'tremendously meaningful impact' on 2025 volume. CEO Jochen Zeitz reinforced this by reiterating the company's commitment to reducing dealer inventory by year-end.

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