Thor Industries sees 2024 sales weighed down by high interest rates, soft demand [Seeking Alpha]
Thor Industries, Inc. (THO)
Last thor industries, inc. earnings: 3/9 06:30 am
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Source: Seeking Alpha
rates and demand for large purchases undermined by “challenging market conditions” forces the RV-maker to lower 2024 guidance. Shares were down 17% and expected to open at a 3-month low. “Our fiscal second quarter, similar to the prior-year period, presented a challenging operating environment as seasonally lower retail demand and cautious dealer sentiment impacted our results,” Thor CEO Bob Martin said, adding that as a result of the continued environment of higher interest rates “dealers will remain focused on limiting inventory levels as they manage interest expense.” For the fiscal second quarter ended Jan. 31 Thor reported a profit of $0.13 per share, down from $0.50 per share in the same quarter last year, on 6% decline in sales to $2.21B. This compares to the Street's consensus estimates of $0.66 and $2.27B, respectively. The company's gross profit margin widened 20 basis points year-over-year to 12.3%. Cash and cash equivalents dropped 23% to $340M while inventories in
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News
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THO
Earnings
- 3/6/24 - Miss
THO
Sec Filings
- 4/9/24 - Form SC
- 3/26/24 - Form 4
- 3/26/24 - Form 8-K
- THO's page on the SEC website