Thor Q4 2022 Earnings Report
Key Takeaways
Thor Industries reported record financial results for the fourth fiscal quarter and fiscal year ended July 31, 2022. Net sales eclipsed $16 billion and net income attributable to THOR exceeded $1 billion for the first time in the Company’s history.
Consolidated net sales were $3.82 billion in the fourth quarter of fiscal 2022, compared to $3.59 billion in the fourth quarter of fiscal 2021.
Consolidated gross profit margin increased 90 basis points to 17.5% for the fourth quarter of fiscal 2022, from 16.6% in the corresponding period a year ago.
Net income attributable to THOR Industries and diluted earnings per share for the fourth quarter of fiscal 2022 were $280.9 million and $5.15, respectively, compared to $230.3 million and $4.12, respectively, for the prior-year period.
The company ended the year with total liquidity of $1.19 billion, including cash and cash equivalents of $311.6 million and $874.0 million available under our ABL.
Thor
Thor
Forward Guidance
As we enter our fiscal 2023, there remains a level of uncertainty in respect to near-term economic growth and consumer demand. While we navigate this volatility, our experienced operating management teams and proven business model give us a distinct advantage in an ever-changing market.
Positive Outlook
- Dealer inventory levels remain near historically low levels in North American Motorized and European segments.
- The need to restock channel inventory will serve as a tailwind in fiscal 2023.
- Committed to providing new and innovative products across the portfolio.
- Continue to pursue and build out our automation, innovation and aftermarket strategies.
- Long-term focus, combined with our size and scale as the global pure-play leader in the RV industry, positions THOR to outperform the industry in fiscal 2023 and beyond.
Challenges Ahead
- There remains a level of uncertainty in respect to near-term economic growth and consumer demand.
- Economic volatility.
- Uncertainty in the market.
- Short-term economic uncertainties.
- Managing through short-term economic uncertainties.