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, Inc. (NYSE: THO) announced a quarterly cash dividend of $0.45 per share, approved by the Board of Directors on March 28, 2023. This dividend will be payable on April 26, 2023, to shareholders of record as of April 12, 2023. As the largest manufacturer of recreational vehicles, THOR continues to showcase its commitment to returning value to shareholders. The company also highlighted potential risks including inflation, supply chain constraints, and geopolitical factors impacting operations and profitability.
Airstream has unveiled a new concept travel trailer designed in collaboration with Studio F. A. Porsche, set to be showcased at SXSW in Austin, Texas. This innovative trailer integrates features aimed at a modern audience, including a pop-up roof for enhanced headroom and a lowering suspension for garage storage. The design emphasizes aerodynamics, featuring improvements validated by third-party research, as well as a new rear hatch and versatile interior space. This represents Airstream's commitment to evolving its product line while appealing to younger outdoor enthusiasts and adapting to changing market demographics.
THOR Industries reported a challenging second quarter with net sales of $2.35 billion, a 39.4% decline from fiscal 2022's record and a 14.0% decrease from fiscal 2021. The gross profit margin fell to 12.1%, down 530 basis points from last year. Earnings per share were $0.50, decreasing significantly from $4.79 in the same quarter last year. The company revised its fiscal 2023 guidance, now projecting net sales between $10.5 billion and $11.5 billion and EPS of $5.50 to $6.50. Despite the downturn, THOR maintains strong liquidity with $1.2 billion in total liquidity and positive cash flow from operations.
THOR Industries, Inc. (NYSE: THO) will release its fiscal 2023 second quarter earnings on March 7, 2023, before the market opens. Along with the earnings report, the company will provide a detailed question and answer document and a slide presentation available on its website. THOR Industries is recognized as the largest manufacturer of recreational vehicles globally. Investors can find more information on the company and its products at their official site.
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