Thor Q2 2024 Earnings Report
Key Takeaways
Thor Industries reported net sales of $2.21 billion for the second quarter of fiscal 2024, a decrease from $2.35 billion in the same period last year. Net income was $7.2 million, or $0.13 per share, compared to $27.1 million, or $0.50 per share, in the prior year. The company is lowering its fiscal year 2024 guidance to reflect a more conservative outlook on North American industry wholesale shipments.
Consolidated net sales were $2.21 billion, compared to $2.35 billion for the second quarter of fiscal 2023.
Consolidated gross profit margin was 12.3%, an increase of 20 basis points compared to the prior year.
Net income attributable to THOR Industries was $7.2 million, or $0.13 per share, compared to $27.1 million, or $0.50 per share, in the prior year.
The company recognized total expense of $14.7 million related to debt refinancing.
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Forward Guidance
Thor Industries expects improving market conditions as we progress through calendar 2024.