Wed, Mar 5, 11:34 AM (46 days ago)
THOR Industries, Inc. (NYSE: THO) reported a challenging Q2 for fiscal 2025, with net sales of $2,018,107, down 8.6% from $2,207,369 in Q2 2024. The decline was driven by decreased demand in both North American and European markets, particularly in motorized RVs, which saw a 21.8% drop in sales. Gross profit fell to $245,197 (12.1% of sales) from $270,847 (12.3% of sales) the previous year. The company recorded a net loss of $551 compared to a profit of $7,217 in Q2 2024, influenced by a significant increase in interest expenses and a decrease in other income. Cash flow from operations improved to $61,582, contrasting with a cash outflow of $44,200 in the prior year. However, cash and cash equivalents dropped to $373,819 from $501,316, largely due to financing activities, including $53,153 in dividends and $85,000 in debt repayments. The backlog increased by 15.2% to $2,198,493, indicating potential recovery as demand stabilizes. The company remains cautious about inflation, interest rates, and supply chain uncertainties impacting future operations.