THOR Industries Announces First Quarter Fiscal 2025
From GlobeNewswire: 2024-12-04 06:30:00
THOR Industries, Inc. reported financial results for the fiscal 2025 first quarter, with net sales of $2.14 billion, a decrease of 14.3% from the prior year. Gross profit margin was 13.1%, net loss attributable to THOR was $1.8 million, and diluted loss per share was $0.03. EBITDA and Adjusted EBITDA were $81.7 million and $107.8 million respectively.
The company cited a challenging market environment impacting performance. Strategic actions were taken to restructure leadership, incurring costs that impacted results but are expected to save over $10 million annually. Full-year guidance includes consolidated net sales of $9.0 to $9.8 billion, gross profit margin of 14.7% to 15.2%, and diluted earnings per share of $4.00 to $5.00.
In segment results, North American Towable RV net sales decreased by 4.9%, while North American Motorized RV net sales decreased by 29.0% and European RV net sales decreased by 14.6% in the first quarter of fiscal 2025 compared to the prior year. Each segment faced challenges and margin changes due to market conditions.
Management emphasized a focus on controlling what they can in the tough market environment. Cash flows from operations were $30.7 million in the first quarter, with strategic capital expenditures, debt reduction, and a dividend increase announced. The company remains optimistic about future retail market trends and is positioning itself for long-term success upon market recovery.
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