Thor Industries Reports Declining Sales Despite Steady EPS

Thor Industries, Inc. revealed its fourth-quarter earnings and net sales, indicating a decline in revenue but maintaining earnings per share. Looking ahead, the company anticipates lower-than-expected earnings for fiscal 2024, leading to cautious investor sentiment.

Date: 24-09-2024

AI Rating: 5

Thor Industries, Inc. reported a net income of $90.02 million or $1.68 per share for the fourth quarter, which shows stability in EPS compared to the prior year's of $1.68 per share as well. However, the company's net sales experienced a significant decline of 7.4 percent, dropping from $2.74 billion to $2.53 billion compared to the same quarter last year.

Expectations for earnings were surpassed, as analysts predicted earnings of $1.30 per share and projected $2.47 billion in sales, yet the company did not meet future sales expectations as the company anticipates earnings between $4.00 to $5.00 per share for fiscal 2024, well below the Street consensus of $6.35 per share.

Regarding revenue growth, Thor's anticipated future net sales of $9.0 billion to $9.8 billion for fiscal 2024 suggest a cautious sentiment as it remains lower than external expectations. Additionally, the overall forecast indicates a slightly aggressive stance on unit shipments predicted by the RVIA for 2025, with projections that may not align with industry trends.

Stocks: THO