Wed, Dec 4, 11:36 AM (217 days ago)
For the quarter ending October 31, 2024, Thor Industries, Inc. (THO) reported a significant decline in net sales, totaling $2,142,784, down 14.3% from $2,500,759 in the prior year. This drop was driven by decreased demand in both North American and European markets, with North American Motorized sales particularly affected, plummeting 29% year-over-year. Gross profit also fell to $281,442, reflecting a decrease in profit margins to 13.1%. The company recorded a net loss of $1,832 compared to a profit of $53,565 in the same quarter last year, primarily due to reduced sales volumes and increased selling, general, and administrative expenses. Cash flow from operations decreased to $30,740, while capital expenditures were $25,273. Thor's total assets decreased to $6,873,181 from $7,020,823, with cash and cash equivalents also declining significantly. The company faces uncertainties including inflation, interest rate fluctuations, and supply chain constraints, which may impact future performance. Despite these challenges, Thor maintains a robust cash position and access to credit, supporting ongoing operations and dividend payments.