Thor Q4 2023 Earnings Report
Key Takeaways
Thor Industries' Q4 results showed strong performance in the European segment and solid execution in North America amidst a down-cycle. The company focused on reducing channel inventory and managing costs, leading to a strong cash flow and debt reduction.
European segment achieved another quarter of record performance.
North American operating teams made progress reducing and rebalancing channel inventory.
Teams assisted independent dealers in destocking approximately 25,500 units of THOR products from channel inventory during the fiscal fourth quarter.
Company generated $507.5 million of cash from operations.
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Thor Revenue by Segment
Forward Guidance
Company is cautious on the global economic outlook and associated impacts on consumer demand. The Company remains committed to driving gross profit margin improvement while enacting strategies to reduce its wholesale pricing to drive consumer demand and ensuring channel inventory of THOR products remains appropriate.