Thor Industries, Inc. THO shares are trading lower on Tuesday.
The company reported fourth-quarter earnings per share of $1.68, beating the street view of $1.43. Quarterly sales of $2.534 billion (down 7.4%) outpaced the analyst consensus of $2.471 billion.
North American Towable RV net sales were up 0.1% for the fourth quarter, North American Motorized RV net sales decreased 21.2%, and European RV net sales decreased 7.4% on a year over year basis. Quarterly gross profit margin expanded by 140 basis points to 15.8%.
“We realized strong margin performance relative to the current market conditions as our teams executed on strategic initiatives designed to maximize our operational efficiency. This long-term focus puts THOR in a strong position for our Fall Open House event and the coming winter season,” said Bob Martin, President and CEO of the company.
Thor Industries exited the quarter with cash and equivalents worth $501.32 million. Inventories as of quarter end totaled $1.366 billion.
Outlook: Thor Industries anticipates fiscal year 2025 sales between $9.0 billion and $9.8 billion, compared to the $10.49 billion estimate, and expects EPS to range from $4.00 to $5.00, below the estimated $6.65.
“Our base assumption for forecasting will be that the macro challenges will persist through our fiscal year 2025, which runs from August 1, 2024 through July 31, 2025. In North America, we expect discounting in fiscal 2025 to remain elevated in our Motorized segment, while we expect discounts to slightly moderate in our Towable segment,” the company said.
Price Action: THO shares are trading lower by 2.97% to $100.12 premarket at last check Tuesday.
Photo via Shutterstock
Read Next:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
