Loading...
•
Apr 30, 2023
Thor Q3 2023 Earnings Report
Thor's Q3 2023 results reflect solid performance underpinned by disciplined production, variable cost model, and strong European segment.
Key Takeaways
Thor Industries reported consolidated net sales of $2.93 billion and net income of $120.7 million for the third quarter of fiscal 2023. The company's performance was driven by solid operational execution and strong results from its European segment, while navigating challenging market conditions and managing production levels in North America.
Consolidated net sales reached $2.93 billion, compared to $4.66 billion in the prior-year quarter.
Net income attributable to THOR was $120.7 million, or $2.24 per diluted share, compared to $348.1 million, or $6.32 per diluted share in the prior year.
Gross profit margin was 14.8%, a decrease of 250 basis points compared to the prior-year quarter.
The company reduced channel inventory by approximately 8,300 units in North America.
Forward Guidance
The company anticipates certain macroeconomic challenges to persist in the near-term and expects sequentially lower fiscal fourth quarter financial results due to efforts to move model year 2022 units and disciplined production of model year 2023 units.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...