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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.
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THOR Industries, Inc. (NYSE: THO) announced a quarterly cash dividend of $0.45 per share, approved by the Board of Directors on March 28, 2023. This dividend will be payable on April 26, 2023, to shareholders of record as of April 12, 2023. As the largest manufacturer of recreational vehicles, THOR continues to showcase its commitment to returning value to shareholders. The company also highlighted potential risks including inflation, supply chain constraints, and geopolitical factors impacting operations and profitability.
Airstream has unveiled a new concept travel trailer designed in collaboration with Studio F. A. Porsche, set to be showcased at SXSW in Austin, Texas. This innovative trailer integrates features aimed at a modern audience, including a pop-up roof for enhanced headroom and a lowering suspension for garage storage. The design emphasizes aerodynamics, featuring improvements validated by third-party research, as well as a new rear hatch and versatile interior space. This represents Airstream's commitment to evolving its product line while appealing to younger outdoor enthusiasts and adapting to changing market demographics.
THOR Industries reported a challenging second quarter with net sales of $2.35 billion, a 39.4% decline from fiscal 2022's record and a 14.0% decrease from fiscal 2021. The gross profit margin fell to 12.1%, down 530 basis points from last year. Earnings per share were $0.50, decreasing significantly from $4.79 in the same quarter last year. The company revised its fiscal 2023 guidance, now projecting net sales between $10.5 billion and $11.5 billion and EPS of $5.50 to $6.50. Despite the downturn, THOR maintains strong liquidity with $1.2 billion in total liquidity and positive cash flow from operations.
THOR Industries, Inc. (NYSE: THO) will release its fiscal 2023 second quarter earnings on March 7, 2023, before the market opens. Along with the earnings report, the company will provide a detailed question and answer document and a slide presentation available on its website. THOR Industries is recognized as the largest manufacturer of recreational vehicles globally. Investors can find more information on the company and its products at their official site.
THOR Industries, Inc. (NYSE: THO) announced a quarterly cash dividend of $0.45 per share, approved by its Board of Directors on December 15, 2022. The dividend is set to be paid on January 13, 2023, to shareholders recorded as of the close of business on December 30, 2022. This commitment underscores THOR's focus on returning value to shareholders. THOR is recognized as the largest manufacturer of recreational vehicles globally.
THOR Industries reported first-quarter fiscal 2023 net sales of $3.11 billion, down 21.5% from the previous year but up 22.5% compared to fiscal 2021. The consolidated gross profit margin decreased to 15.7%, while diluted earnings per share fell to $2.53 from $4.34 year-over-year. Despite a challenging environment, THOR anticipates full-year net sales between $11.5 billion and $12.5 billion and earnings per share ranging from $7.40 to $8.70. The company continues to invest in strategic growth initiatives and executed a $25.4 million share repurchase.