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.
On October 7, 2021, THOR Industries (NYSE: THO) announced a 5% increase in its quarterly dividend, raising it from $0.41 to $0.43 per share. This dividend is payable on November 5, 2021, to shareholders of record as of October 22, 2021. The company is the largest manufacturer of recreational vehicles globally, reflecting its strong position in the market.
THOR Industries has announced the pricing of a $500 million offering of 4.000% Senior Unsecured Notes, maturing on October 15, 2029, which was increased from an initial size of $400 million. The offering is set to close on October 14, 2021. Proceeds will be utilized to reduce existing borrowings and cover transaction expenses. The Notes will rank equally with THOR's current senior debt and are exclusively for qualified institutional buyers. The company faces risks related to the COVID-19 pandemic, supply chain disruptions, and interest rate fluctuations.
THOR Industries intends to offer $400 million in Senior Unsecured Notes due 2029, subject to market conditions. The proceeds will be used to partially repay outstanding borrowings on its asset-based revolving credit facility and cover fees and expenses. The Notes rank equally with existing senior indebtedness but will be junior to secured indebtedness. They are offered to qualified institutional buyers and non-U.S. persons under specific regulations. The offering does not constitute a solicitation for purchase in jurisdictions where it is unlawful.
THOR Industries (NYSE: THO) reported record financial results for the fourth fiscal quarter and fiscal year ending July 31, 2021, with net sales surpassing $12 billion and net income of $659.9 million. The fourth quarter net sales reached $3.59 billion, a significant increase from $2.32 billion a year prior. Earnings per share rose to $4.12, up from $2.14. The company managed to navigate supply chain challenges effectively while maintaining a record backlog of $16.86 billion, driven by strong demand across its RV segments. THOR anticipates continuing growth into fiscal 2022 despite ongoing uncertainties.
THOR Industries, Inc. (NYSE: THO) has announced the release date for its fiscal fourth quarter earnings, set for September 28, 2021, before market opens. Alongside the earnings release, the company will provide a comprehensive question-and-answer document and a slide presentation on its website. As the world's largest manufacturer of recreational vehicles, THOR continues to offer insights into its financial performance during a challenging economic landscape.
L Catterton announced that its portfolio company Airxcel has sold its RV Group to THOR Industries (NYSE: THO) for an all-cash price of $750 million. The deal, subject to post-closing adjustments, allows Airxcel to focus on its specialty HVAC segment, which will be rebranded as AirX Climate Solutions, Inc.. Under L Catterton's guidance since 2018, Airxcel launched 55 new products and expanded through strategic acquisitions, enhancing its market presence. The transaction reflects growth and operational improvements within Airxcel, strengthening both the RV and HVAC industries.
THOR Industries has acquired Wichita-based AirX Intermediate, Inc. (Airxcel) for $750 million, effective September 1, 2021. Airxcel specializes in RV products, generating about $680 million in annual revenue, with approximately 80% from OEM sales. This acquisition aligns with THOR's long-term growth strategy, enhancing revenue streams and margins. Airxcel is expected to operate independently while benefiting from THOR's financial strength. The deal was financed through cash and an expanded $1 billion Asset-Based Credit Facility.
THOR Industries (NYSE: THO) has announced a two-year partnership with the Girl Scouts of the USA to promote inclusivity in outdoor activities. As part of this partnership, THOR will sponsor the popular event Girl Scouts Love State Parks, taking place from September 11-12, 2021, across nearly 500 state parks. This initiative includes integrating THOR's sustainability program, Pick Up America, which has seen participants pledge to remove over 240 tons of trash from public lands since its launch in 2019.
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.
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