THOR Industries, Inc. (THO) has reaffirmed its initial financial forecast and guidance for fiscal year 2025. The company anticipates a challenging second quarter, with expectations of stronger performance in the third and fourth quarters. By the conclusion of fiscal 2025, THOR projects a positive trend in the retail market, creating a foundation for a stronger fiscal year 2026.
For fiscal 2025, THOR forecasts net sales to fall between $9.0 billion and $9.8 billion, with a gross profit margin ranging from 14.7% to 15.2%, and earnings per share (EPS) anticipated to be between $4.00 and $5.00.
In the first quarter, THOR reported a net loss of $1.8 million or $0.03 per share, compared to a net income of $53.6 million or $0.99 per share in the same period a year prior. This outcome fell short of the average expectation of 11 analysts surveyed by Thomson Reuters, who predicted an EPS of $0.72 for the quarter. Analysts' forecasts typically exclude special items. The adjusted EBITDA stood at $107.78 million, down from $166.92 million a year earlier. The gross profit margin was recorded at 13.1%, showing a decline of 120 basis points from the previous year.
First quarter net sales were reported at $2.14 billion, a decrease of 14.3% from $2.50 billion the previous year. Analysts had, on average, anticipated revenues of $2.23 billion.
As of Wednesday morning's pre-market trading, THOR's shares experienced a 3% decline.
