Welcome to our dedicated page for Thor Industries news (Ticker: THO), a resource for investors and traders seeking the latest updates and insights on Thor Industries stock.
Thor Industries, Inc. (NYSE: THO), headquartered in Elkhart, Indiana, is the world's largest manufacturer of recreational vehicles (RVs). Established in 1980, Thor owns a comprehensive portfolio of well-known RV brands, including Airstream, Heartland, Jayco, and more. The company offers a wide range of products, such as Class A, Class B, and Class C motorhomes, travel trailers, and fifth-wheel towables.
Over the years, Thor Industries has been recognized with numerous accolades for its growth and management excellence. For instance, Forbes included Thor in its Platinum 400 list in January 2000, and the company was added to Standard & Poor's Mid-Cap 400 in April 2004. Thor has also been acknowledged as one of the 'Best Managed Companies in America' by Forbes and one of 'America's Most Admired Companies' by Fortune in 2005. Industry Week named Thor as one of the fifty best U.S. manufacturers.
In recent years, Thor Industries has expanded its geographic footprint through strategic acquisitions. The acquisition of Erwin Hymer Group in 2019 allowed the company to produce motorized and towable RVs for the European market, including motorcaravans, campervans, and urban vehicles. Further extending its product offerings, Thor acquired Airxcel in 2021, entering the aftermarket component parts market, although this segment currently accounts for less than 10% of total sales.
In fiscal 2023, Thor Industries wholesaled 187,015 units and generated over $11.1 billion in revenue, demonstrating its strong market presence and financial stability. The company continues to innovate and adapt to emerging trends, such as the development of electric recreational vehicles (eRVs) and the creation of state-of-the-art EV charging stations to support this new market.
Thor's latest news highlights include the unveiling of 3-D renderings of an EV charging station concept designed to cater to the needs of electric RVs. Additionally, Airstream, a Thor subsidiary known for its iconic 'silver bullet' travel trailers, was recently featured in the documentary ALUMINATION, which celebrates the history and adventurous spirit of the brand.
Thor Industries remains committed to delivering high-quality, innovative products that inspire exploration and adventure, maintaining its leadership position in the global RV industry.
THOR Industries (NYSE: THO) has appointed Christina Hennington and Laurel Hurd to its Board of Directors, effective September 1, 2021, while announcing the retirement of Allen Kosowsky. Hennington, currently with Target, brings extensive merchandising and growth strategy experience, while Hurd, from Newell Brands, has over 30 years in consumer goods, including P&L oversight of a $3 billion portfolio. The Board's refreshment plan aims to enhance governance and strategic direction.
On June 17, 2021, THOR Industries announced a quarterly cash dividend of $0.41 per share, set to be paid on July 16, 2021. Shareholders of record by July 2, 2021 will qualify for this dividend. THOR Industries operates as the largest manufacturer of recreational vehicles globally, emphasizing its market leadership position.
Sanuk, a division of Deckers Brands (NYSE: DECK), has launched its second capsule collection in partnership with Airstream. This new footwear line features four styles, including the popular Donna and Vagabond slip-ons, as well as Glamper ST and Tow'd Up ST flip-flops, all available on Sanuk.com. The collection emphasizes comfort and premium materials, including leather and eco-friendly foam, with prices ranging from $55 to $80. This release aligns with the summer travel season, enhancing Sanuk's efforts to provide stylish, travel-ready footwear.
THOR Industries reported record financial results for Q3 FY2021, with net sales of $3.46 billion, tripling from $1.68 billion in the previous year. The net income reached $183.3 million, equivalent to $3.29 EPS, a significant rise from $24.1 million and $0.43 EPS last year. The strong performance is attributed to increased demand in both retail and wholesale markets following pandemic-related shutdowns. The order backlog exceeds $14 billion, indicating sustained demand. However, supply chain challenges continue to pose risks to production capabilities.
THOR Industries, Inc. (NYSE: THO) has announced that its fiscal third quarter earnings release is scheduled for June 8, 2021, before the market opens. The Company will provide a comprehensive Q&A document and a slide presentation on its website upon the earnings release. THOR is recognized as the world's largest manufacturer of recreational vehicles. For more information about the Company and its products, visit www.thorindustries.com.
Pottery Barn, part of Williams-Sonoma (NYSE: WSM), collaborates with Airstream to launch a new home decor collection inspired by adventure. This collection features over 40 items, including bedding, dinnerware, and travel-friendly accessories, priced from $12 to $899. Pottery Barn President Marta Benson emphasizes the blend of style and functionality. Key highlights include OEKO-TEX certified bedding and eco-friendly materials made from recycled plastics. This expansion reflects growing demand for adventure-themed products, coinciding with the summer travel season.
THOR Industries (NYSE: THO) released its 2020 U.S. RV Rental Study, revealing important consumer insights into RV rental experiences and purchase likelihood. The study indicates a strong correlation between renting and future purchases, with 73% of respondents likely to buy an RV, and 66% indicating they may purchase within 6-11 months. Additionally, 97% expressed satisfaction with their rental experience. The findings emphasize the importance of understanding consumer behavior in the RV industry for targeted marketing and enhancing customer loyalty.
THOR Industries (NYSE: THO) has successfully repriced its Senior Secured Term Loan B, reducing interest rates on both USD and EUR tranches. The USD Term Loan balance of $942 million now has an interest rate of LIBOR +300 bps (from LIBOR +375 bps), and the EUR tranche of €503 million is now EURIBOR +300 bps (from EURIBOR +400 bps). This repricing is expected to yield annual cash interest savings of approximately $13 million. The maturity date remains February 1, 2026, with no significant changes to covenants.
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