Thor Industries, Inc. (THO), a leading manufacturer of recreational vehicles, announced on Tuesday that its net income attributable to the company for the fourth quarter was $90.02 million, translating to $1.68 per share. This compares to $90.29 million, or $1.68 per share, in the corresponding quarter from the previous year.
The company experienced a 7.4 percent drop in net sales for the quarter, which fell to $2.53 billion from $2.74 billion in the same period last year.
Thirteen analysts, surveyed by Thomson Reuters, had collectively projected earnings of $1.30 per share on net sales of $2.47 billion for the quarter. Typically, these analysts' estimates exclude special items.
Looking forward to fiscal year 2024, Thor Industries now forecasts earnings in the range of $4.00 to $5.00 per share on net sales between $9.0 billion and $9.8 billion. In contrast, market analysts are anticipating earnings of $6.35 per share on revenues of $10.45 billion for the year.
The company also commented on its outlook for fiscal year 2025, aligning it with the recent RVIA industry-wide forecast, which estimated approximately 324,100 wholesale unit shipments for calendar year 2024 and a median of 346,100 for calendar year 2025. However, Thor Industries considers the RVIA forecast for 2025 to be slightly optimistic, suggesting a more realistic range closer to 335,000 units.
