From GlobeNewswire: 2024-06-05 06:30:00

THOR Industries reported its fiscal third-quarter results, with net sales of $2.80 billion and gross profit margin of 15.1%. Adjusting guidance due to soft retail environment, they revised FY 2024 forecast to $9.8-$10.1 billion in sales, gross margin of 13.75%-14.0%, and $4.50-$4.75 in earnings per share. The company remains confident in industry long-term prospects.

In the third quarter, THOR Industries faced challenging market conditions despite increased retail activity. Net sales decreased by 4.4% YoY, with North American Towable RVs declining by 4.7% and North American Motorized RVs by 18.7%. European RVs saw a 7.4% increase in net sales. The gross profit margin improved slightly, and net income decreased only 20 basis points. The company is optimistic about the outlook for the industry. Management remains disciplined in production to align with retail demand and maintain favorable dealer inventory conditions. They will focus on working closely with dealer partners to navigate the challenging market and prepare for a stronger market return.



Read more at GlobeNewswire:: THOR Industries Announces Third Quarter Fiscal 2024