Thor Industries (THO) came out with quarterly earnings of $0.40 per share, missing the Zacks Consensus Estimate of $0.69 per share. This compares to earnings of $0.50 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -42.03%. A quarter ago, it was expected that this recreational vehicle maker would post earnings of $0.87 per share when it actually produced earnings of $0.99, delivering a surprise of 13.79%.Over the last four qua ...

ANTICIPATES STRONGER PERFORMANCE IN THE SECOND HALF OF FISCAL 2024 WHILE LOWERING FISCAL 2024 GUIDANCE TO REFLECT COMPANY'S PRUDENT FOCUS ON OPERATIONAL EXECUTION AHEAD OF MARKET RECOVERY Fiscal Second Quarter 2024 Highlights Consolidated net sales for the second quarter were $2.21 billion.Consolidated gross profit margin for the second quarter was 12.3%.Net income attributable to THOR Industries, Inc. and diluted earnings per share for the second quarter of fiscal 2024 were $7.2 million and $0.13, respecti ...

North American RV Market Performance - THOR's North American RV backlog decreased by $1,092,226 (36.4%) to $1,908,889 as of January 31, 2024, compared to $3,001,115 as of January 31, 2023[83] - North American Towable unit shipments decreased by 167,563 units (38.5%) to 267,295 units in 2023 compared to 2022[84] - North American Motorized unit shipments decreased by 12,531 units (21.5%) to 45,879 units in 2023 compared to 2022[84] - RVIA forecasts 2024 North American wholesale unit shipments to increase by 11.8% to 350,100 units, with towable units projected at 301,800 and motorized units at 48,300[84] - North American retail unit registrations decreased by 69,421 units (15.5%) to 379,205 units in 2023 compared to 2022[85] European Recreational Vehicle Market Performance - European Recreational Vehicle net sales increased by $135,356 (20.9%) to $782,294 for the three months ended January 31, 2024, compared to the same period in 2023[138] - European Motorcaravan net sales increased by $157,031 (58.6%) to $424,813 for the three months ended January 31, 2024, compared to the same period in 2023[138] - European Campervan net sales increased by $17,588 (7.7%) to $244,724 for the three months ended January 31, 2024, compared to the same period in 2023[138] - European Caravan net sales decreased by $43,407 (45.9%) to $51,087 for the three months ended January 31, 2024, compared to the same period in 2023[138] - European Recreational Vehicle gross profit increased by $27,895 for the three months ended January 31, 2024, compared to the same period in 2023[143] Financial Risks and Hedging - A one-percentage-point increase in interest rates would result in an estimated $8,776 reduction in income before income taxes over a one-year period[200] - The company is exposed to market risk from changes in foreign currency exchange rates and interest rates, and uses hedging transactions to mitigate these risks[197] - The company's principal currency exposures mainly relate to the Euro and British Pound Sterling, and it uses foreign currency forward contracts to manage foreign exchange rate exposure[198] Legal and Contractual Matters - The company is involved in litigation arising from operations, including state "lemon laws," warranty claims, and vehicle accidents, with outcomes subject to significant uncertainty[207] - Amendment No. 3 to the Term Loan Credit Agreement was dated as of November 15, 2023, involving the company, certain subsidiaries, and JPMorgan Chase Bank, N.A.[212] - Amendment No. 3 to the ABL Credit Agreement was dated as of November 15, 2023, involving the company, certain domestic subsidiaries, and JPMorgan Chase Bank, N.A.[212] - Form of Employment Agreement between the company and Michele McDermott was dated January 29, 2024[212]

Consolidated gross profit margin for the second quarter of fiscal 2024 was 12.3%, an increase of 20 basis points when compared to the second quarter of fiscal 2023. EXHIBIT 99.1 THOR Industries Announces Second Quarter Fiscal 2024 Results ANTICIPATES STRONGER PERFORMANCE IN THE SECOND HALF OF FISCAL 2024 WHILE LOWERING FISCAL 2024 GUIDANCE TO REFLECT COMPANY'S PRUDENT FOCUS ON OPERATIONAL EXECUTION AHEAD OF MARKET RECOVERY Fiscal Second Quarter 2024 Highlights ELKHART, Ind., March 06, 2024 (GLOBE NEWSWIRE) ...

In its upcoming report, Thor Industries (THO) is predicted by Wall Street analysts to post quarterly earnings of $0.69 per share, reflecting an increase of 38% compared to the same period last year. Revenues are forecasted to be $2.3 billion, representing a year-over-year decrease of 2.1%.The consensus EPS estimate for the quarter has undergone an upward revision of 0.5% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initia ...

Thor Industries (THO) is expected to deliver a year-over-year increase in earnings on lower revenues when it reports results for the quarter ended January 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The earnings report, which is expected to be released on March 6, 2024, might help the stock move higher if these key numbers are better than ...

ELKHART, Ind., Feb. 22, 2024 (GLOBE NEWSWIRE) -- THOR Industries, Inc. (NYSE:THO) today announced that the date for its fiscal 2024 second quarter earnings release will be on Wednesday, March 6, 2024 before the market opens. Upon the release of THOR's fiscal 2024 second quarter earnings, the Company will concurrently publish a copy of the earnings release, a comprehensive question and answer document and a slide presentation on the Company's website. To view the quarterly earnings documents, please go to ht ...

ELKHART, Ind., Feb. 22, 2024 (GLOBE NEWSWIRE) -- THOR Industries, Inc. (NYSE: THO) today announced that the date for its fiscal 2024 second quarter earnings release will be on Wednesday, March 6, 2024 before the market opens. Upon the release of THOR's fiscal 2024 second quarter earnings, the Company will concurrently publish a copy of the earnings release, a comprehensive question and answer document and a slide presentation on the Company's website. To view the quarterly earnings documents, please go to h ...

ELKHART, Ind., Feb. 05, 2024 (GLOBE NEWSWIRE) -- THOR Industries, Inc. (NYSE:THO) announced today the appointment of Jeffrey D. Lorenger to its Board of Directors, effective February 1, 2024. Mr. Lorenger, age 58, is the President, Chief Executive Officer, and Chairman of the Board for HNI Corporation, a leading manufacturer of workplace furnishings and residential building products. Mr. Lorenger has served in his role of President and CEO since June 2018 and has been Chairman of the HNI Board of Directors ...

Market Performance - THOR's North American market share for travel trailers and fifth wheels was approximately 42.2%, and for motorhomes, it was approximately 49.0% as of September 30, 2023[67]. - North American RV independent dealer inventory decreased by 31.5% to approximately 83,800 units as of October 31, 2023, compared to 122,300 units a year earlier[72]. - THOR's North American RV backlog decreased by $2,398,793, or 54.1%, to $2,033,345 as of October 31, 2023, compared to $4,432,138 a year prior[73]. - North American wholesale unit shipments for THOR decreased by 47.4% to 94,603 units for the nine months ended September 30, 2023, compared to 180,020 units in the same period of 2022[78]. - North American retail unit registrations for THOR decreased by 16.8% to 131,974 units for the nine months ended September 30, 2023, compared to 158,556 units in the same period of 2022[80]. - The RVIA projects a 39.8% decrease in total annual wholesale unit shipments for 2023, estimating approximately 297,100 units[74]. - The RVIA's most likely forecast for 2024 anticipates a 24.4% increase in total annual towable and motorized unit shipments to approximately 369,700 units[75]. Economic Factors - Inflation and higher interest rates are expected to negatively impact demand for RVs in fiscal 2024, affecting both wholesale and retail levels[70]. - The overall effective income tax rate increased to 24.2% from 23.3% due to the jurisdictional mix of pre-tax income[109]. Company Strategy and Operations - The company’s growth strategy includes innovation, quality manufacturing, and strategic acquisitions to enhance profitability[68]. - The company does not directly finance independent dealers but provides repurchase agreements to their floor plan lenders[69]. - The company plans to expand its retail customer reach through data-based and digital marketing strategies targeting new consumer segments[94]. - The company continues to work closely with suppliers to minimize supply chain constraints and has identified alternative suppliers for certain components[85][100]. European Market Insights - The company's European RV backlog increased by $345,966, or 11.6%, to $3,331,171 as of October 31, 2023, compared to $2,985,205 in the previous year[89]. - Independent dealer inventory of European RV products as of October 31, 2023, was approximately 21,900 units, showing growth from previous low levels[88]. - European unit registrations for motorcaravans and campervans decreased by 6.6% to 22,415 units for the nine months ended September 30, 2023, compared to 24,005 units in 2022[93]. - The European RV market is facing supply chain challenges, including chassis supply constraints and labor shortages, which may impact production levels[98][101]. - The European RV market's long-term outlook remains positive as more consumers discover RVs for lifestyle independence and outdoor exploration[95]. Financial Performance - Consolidated net sales for the three months ended October 31, 2023 decreased by $607,325, or 19.5%, compared to the same period in 2022[105]. - Total North American recreational vehicle sales decreased by $784,712, or 32.1%, with North American Towable down 28.3% and North American Motorized down 36.7%[105]. - Consolidated gross profit for the three months ended October 31, 2023 decreased by $128,544, or 26.4%, with a gross profit margin of 14.3% compared to 15.7% in the prior year[106]. - Income before income taxes decreased by $106,689, or 59.5%, primarily driven by the decrease in consolidated net sales[108]. - The order backlog for North American Towable decreased by $772,031, or 49.2%, and for North American Motorized decreased by $1,626,762, or 56.8%[104]. - Selling, general and administrative expenses decreased by $23,728, or 9.8%, due to lower sales and related commissions[107]. - Cash and cash equivalents decreased to $425,828 as of October 31, 2023, from $441,232 on July 31, 2023[138]. - Net cash provided by operating activities was $59,668 for the three months ended October 31, 2023, down from $94,016 in the prior year[144]. Product Performance - North American Towable net sales decreased by 28.3% to $945,454 for the three months ended October 31, 2023, compared to $1,317,806 in the same period last year[113]. - Unit shipments for North American Towable decreased by 13.0% to 28,107 units, down from 32,291 units year-over-year[113]. - North American Motorized net sales decreased by 36.7% to $711,159 for the three months ended October 31, 2023, compared to $1,123,519 in the prior year[121]. - Unit shipments for North American Motorized decreased by 31.5% to 5,582 units, down from 8,150 units year-over-year[121]. - The gross profit for North American Towable decreased by $77,855, primarily due to lower net sales and increased cost of products sold percentage[117]. - The gross profit for North American Motorized decreased by $106,343, driven by the decline in net sales and increased cost of products sold percentage[125]. - Cost of products sold for North American Towable decreased by $294,497 to $827,443, representing 87.5% of net sales[115]. - Cost of products sold for North American Motorized decreased by $306,017 to $631,767, representing 88.8% of net sales[123]. - The overall net price per unit for North American Towable decreased by 15.3% due to changes in product mix and elevated sales discounts[113]. - The overall net price per unit for North American Motorized decreased by 5.2%, influenced by higher discounting levels and a shift towards more moderately-priced units[121]. - European Recreational Vehicles net sales increased by 40.4% to $708,201 for the three months ended October 31, 2023, compared to $504,302 for the same period in 2022[129]. - The increase in net sales was driven by a 19.5% rise in unit shipments and a 20.9% increase in overall net price per unit[130]. - Motorcaravan net sales rose by 44.5% to $346,511, while Campervan sales increased by 59.2% to $221,609[129]. - Cost of products sold increased to $585,373, representing 82.7% of net sales, down from 86.3% in the prior year[133]. - Gross profit increased by $53,963, attributed to higher net sales and improved gross profit percentage due to lower cost of products sold[135]. - Selling, general and administrative expenses rose by $16,793, primarily due to increased sales-related costs[136]. - Income before income taxes increased by $35,235, driven by higher net sales and reduced cost percentages[137].