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THOR Industries, Inc. reports company developments across its recreational vehicle manufacturing business, including quarterly results, wholesale unit trends, product mix and regular dividend actions. The company owns operating subsidiaries that manufacture motorized and towable RVs, including Class A, Class B and Class C motorhomes, travel trailers and fifth-wheel towables, with North American brands and European operations expanded through Erwin Hymer.
Recurring news also covers THOR's operating model, leadership appointments, investor relations changes, data and digital platform initiatives, supply-chain capabilities and aftermarket component activity through Airxcel. Updates may address brand-level developments involving businesses such as Tiffin Motorhomes, Thor Motor Coach and Keystone, as well as collaboration across dealers, OEM customers and supply partners in the RV ecosystem.
THO Industries has released its 2022 U.S. Camper Perception Study, revealing that rising fuel prices have minimal impact on RV purchasing and usage intentions. The study indicates that 67% of recent RVers believe fuel costs will not deter them from buying an RV in the next five years, while 73% prefer companies with sustainable practices. THOR reaffirms its commitment to sustainability, aiming for global carbon net-neutrality by 2050. Additionally, Renee Jones has been appointed Vice President of Marketing, emphasizing the role of effective marketing strategies in the company’s growth.
THOR Industries (NYSE: THO) released its North American Motorized Electric RV Study, revealing vital consumer expectations for electric RVs. Key findings indicate that 45% of consumers expect to drive 5-6 hours on a single charge, with 97% wanting a charge interval of 3 hours or longer. The study highlights a pressing need for improved charging infrastructure, as 44% of participants expect fast-charging stations at campgrounds. THOR aims to innovate within this sector, leveraging data to exceed consumer needs while addressing infrastructure challenges.
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THOR Industries (THO) has signed a Letter of Intent to sell a majority stake in its digital platform, TH2Connect, LLC, to Graham Allen Partners for $81 million. The transaction is expected to close by April 30, 2022. The move allows THOR to focus on its core RV business while providing Roadpass Digital with the expertise needed for further growth. THOR's leadership views this as a strategic step to enhance capital and operational focus. The sale reflects the significant value created in Roadpass Digital within a short time frame.
THOR Industries (NYSE: THO) has appointed McKay Featherstone, Airstream’s VP of Product Development, as Senior VP of Global Innovation, effective May 1st. Featherstone will lead THOR's eMobility strategy, succeeding Josef Hjelmaker, who has transitioned his duties after successfully implementing electric RV designs during the pandemic. THOR’s leadership emphasizes the need for a customer-focused approach and innovative product development in the evolving RV market.
THOR Industries (NYSE: THO) has announced a donation through its Erwin Hymer Group subsidiary, providing temporary use of its Polish facility to the Lubuskie branch of the Polish Red Cross. This facility in Nowa Sól will serve as a distribution center for relief supplies, including food and medical items, aiding victims of the ongoing Ukraine war. Furthermore, THOR is committing additional funds to support these humanitarian efforts, reflecting the company's commitment to assist those affected by the conflict.
THOR Industries, Inc. (NYSE: THO) announced a quarterly cash dividend of $0.43 per share, approved by its Board of Directors on March 22, 2022. The dividend is set to be paid on April 20, 2022, to shareholders on record by April 6, 2022. This payout underscores THO's commitment to returning value to its shareholders amidst its position as the world's largest manufacturer of recreational vehicles.
THOR Industries announced record financial results for its second fiscal quarter, ending January 31, 2022. Net sales surged to $3.88 billion, up 42.1% from the prior year, with earnings per share at $4.79, a 101.3% increase. The gross profit margin improved to 17.4%, up 220 basis points year-over-year. The RV backlog reached $17.73 billion, a 60% increase from last year. The company also implemented a $250 million share repurchase program, buying back $58.3 million in stock. THOR remains positive about ongoing demand and industry growth despite supply chain challenges.
Dragonfly Energy Corp. has secured an exclusive agreement with Keystone RV Company, integrating its Lithium-ion batteries as standard or optional equipment in all Keystone RV travel trailers and fifth wheels. This partnership enhances customer experience by offering batteries covered under factory warranty. The innovative batteries outperform traditional lead-acid options, boasting a lifespan ten times longer and charging speed five times faster. Additionally, the agreement includes a groundbreaking 10-year warranty and a return and recycling program, positioning Dragonfly Energy to revolutionize the RV energy storage market.
On January 19, 2022, THOR Industries (THO) unveiled its eMobility strategy at the Florida RV SuperShow, introducing two electric RV concepts—a motorhome and a travel trailer. The eStream travel trailer, built on a proprietary high-voltage electric chassis, enhances range for both electric and traditional tow vehicles. The THOR VISION VEHICLE (TVV) motorhome features integrated fuel cell components for a range of up to 300 miles. THOR's commitment to innovation aims to maintain its leadership in the RV industry and respond to user concerns about electric vehicle range limitations.