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Oct 31, 2023
Thor Q1 2024 Earnings Report
Financial performance reflected prioritizing profitability amidst soft demand and independent dealer destocking efforts.
Key Takeaways
Thor Industries reported first quarter fiscal 2024 results with net sales of $2.50 billion, a decrease from $3.11 billion in the prior year. Net income was $53.6 million, or $0.99 per share, compared to $136.2 million, or $2.53 per share, in the first quarter of fiscal 2023. The company reaffirmed its full-year fiscal 2024 guidance.
Consolidated net sales were $2.50 billion, compared to $3.11 billion for the first quarter of fiscal year 2023.
Net income attributable to THOR Industries, Inc. was $53.6 million and diluted earnings per share was $0.99.
Generated cash flow from operations of $59.7 million.
Reaffirmed full-year fiscal 2024 guidance.
Forward Guidance
The Company is reaffirming its previously communicated full-year fiscal 2024 guidance. As the Company’s fiscal 2024 guidance assumes a much stronger second half of fiscal 2024, in conjunction with the traditional retail selling season, the Company recognizes opportunity and risk to the forecast dependent upon future macro conditions and their impact on retail consumers.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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