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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, Inc. (NYSE: THO) announced that its fiscal first quarter earnings will be released on December 8, 2020, before market opening. Alongside the earnings report, the company will provide a comprehensive Q&A document and a slide presentation available on its website. THOR is the largest manufacturer of recreational vehicles globally, owning multiple operating subsidiaries. The company highlights the uncertainties related to the ongoing pandemic that may affect demand and production, impacting financial results.
THOR Industries has announced a partnership with the National Forest Foundation to plant 500,000 trees in U.S. national forests by 2025. This initiative seeks to promote environmental sustainability and improve public enjoyment of these lands, which have seen a significant increase in visitors during the Covid-19 pandemic. The effort aligns with THOR's broader sustainability goals, which include a 50% reduction in greenhouse gas emissions by 2030. The collaboration builds on prior support for reforestation efforts initiated by THOR in 2019.
THOR Industries (NYSE: THO) has released its FY2020 sustainability report, emphasizing responsible and sustainable business practices. The report includes ambitious targets such as a commitment to achieve net-zero greenhouse gas emissions by 2050, a 50% reduction in GHG emissions by 2030, and a waste management target to cut landfill waste by 50%. THOR also signed the CEO Action for Diversity & Inclusion Pledge and appointed a VP for Global Supply Management and Sustainability to lead these initiatives. This commitment aims to positively impact communities, customers, and the environment.
Thor Industries, Inc. (NYSE: THO) announced a 2.5% increase in its quarterly dividend, raising it from $0.40 to $0.41 per share. This decision was approved during the Board of Directors' meeting on October 9, 2020. The regular cash dividend is set to be payable on November 6, 2020 to shareholders on record by October 23, 2020.
THOR Industries (NYSE: THO) has announced the appointment of Josef Hjelmaker as the new Chief Innovation Officer. This executive role is expected to enhance the company's product portfolio and drive digital strategies across its operations. Hjelmaker, with extensive experience from Delphi Electronics & Safety and Whirlpool Corporation, will focus on consumer-centric innovations. According to THOR President & CEO Bob Martin, Hjelmaker's background aligns with the company's growth strategies aimed at leading in innovation within the RV industry.
Thor Industries reported a strong fourth quarter and fiscal year 2020 results, with net sales of $2.32 billion, slightly up from $2.31 billion in 2019. The fiscal year sales reached $8.17 billion, compared to $7.86 billion in the prior year. Significant recovery followed COVID-19 shutdowns, with record year-end backlogs and low dealer inventories. Net income rose to $119.2 million ($2.14 per share), compared to $92.1 million ($1.67) in the previous year. While some North American sales declined, particularly in motorized RVs, European sales surged, driving overall growth and positive cash flow from operations of $540.9 million.
Thor Industries, Inc. (NYSE: THO) has announced that it will release its fiscal fourth quarter earnings on September 28, 2020, before market opening. This release will be accompanied by a Q&A document and a slide presentation available on the company’s website. As the world’s largest manufacturer of recreational vehicles, Thor continues to navigate challenges posed by the ongoing coronavirus pandemic, which may impact customer demand and supply chains. Investors are encouraged to monitor the earnings release for insights into financial performance and guidance.
Thor Industries, Inc. (NYSE: THO) has appointed Chandria Harris as Chief People and Inclusion Consultant, reinforcing its commitment to an inclusive workplace. Ms. Harris will focus on inclusion strategies at the corporate level, reporting to CEO Bob Martin and SVP Ken Julian. Her extensive experience in training and development for C-suite leaders positions her well to enhance Thor's workplace culture. The appointment comes as Thor continues to emphasize diversity and inclusion within its business framework.
Sanuk, part of Deckers Brands, has launched an exclusive capsule footwear collection in collaboration with Airstream, known for its iconic travel trailers. This collection, available from July 30, 2020, combines comfort and style inspired by Airstream aesthetics, featuring designs like embroidered patches and unique prints. Retail prices range from $35 to $55. Marketing executives from both brands express excitement about their partnership, aiming to attract both Airstream enthusiasts and fans of casual footwear.
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