Thor Q1 2023 Earnings Report
Key Takeaways
THOR Industries announced its Q1 fiscal year 2023 results, with net sales of $3.11 billion and net income of $136.2 million. The company is facing macroeconomic headwinds, but remains confident in its ability to navigate the challenges.
Net sales were $3.11 billion, compared to $3.96 billion in the first quarter of fiscal 2022.
Gross profit margin was 15.7%, a decrease of 90 basis points compared to the prior-year period.
Net income attributable to THOR Industries was $136.2 million, or $2.53 per share.
The company generated $94.0 million in cash flow from operations.
Thor
Thor
Forward Guidance
The company expects fiscal 2023 to be a dynamic and challenging operating environment. They expect North American retail to slightly outpace North American wholesale shipments as independent dealers adjust the level of stocking to reflect current conditions.