THOR Q3 earnings: net sales down 37% to $2.93B, EPS $2.24 vs $6.32, guidance raised

THOR INDUSTRIES INC

2023-Q3 EPS reported $5.27 revenue$8,383,539,000

Q3 net sales $2.93B, down 37.1% YoY; diluted EPS $2.24 vs $6.32 prior year.
North American Towable sales down 57.4% on 57.3% unit shipment decline; Motorized down 24.4%.
European segment net sales up 19.7%, gross margin 17.5% vs 13.8% YoY.
FY 2023 guidance: diluted EPS raised to $5.80-$6.50 (prev $5.50-$6.50); net sales narrowed to $10.5-$11.0B.
Net cash from operations $474.1M for nine months; debt paydown of $90M on Term Loan B and $35M on ABL in Q3.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

THOR INDUSTRIES INC reported third quarter ended April 30, 2023 results: revenue $2.93 billion, net income $120.7 million, EPS $2.24 per diluted share.

Period: third quarter ended April 30, 2023
Revenue: $2.93 billion
Net income: $120.7 million
EPS: $2.24 per diluted share
Result: reported results

Exact text from the filing

Consolidated net sales were $2.93 billion in the third quarter of fiscal 2023, compared to $4.66 billion in the third quarter of fiscal 2022 and $3.46 billion in the third quarter of fiscal 2021. Consolidated gross profit margin for the third quarter was 14.8%, a decrease of 250 basis points when compared to the third quarter of fiscal year 2022 and a 20-basis point increase when compared to the third quarter of fiscal year 2021. Net income attributable to THOR Industries and diluted earnings per share for the third quarter of fiscal 2023 were $120.7 million and $2.24, respectively, compared to $348.1 million and $6.32, respectively, for the prior-year period and $183.3 million and $3.29, respectively, for the third quarter of fiscal 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

THOR INDUSTRIES INC updated its full year fiscal 2023 guidance (raised).

Period: full year fiscal 2023
Guidance: raised
Result: guidance update

Exact text from the filing

The Company is raising the low end of its full year fiscal 2023 diluted earnings per share guidance from the previous range of $5.50 to $6.50 to the updated range of $5.80 to $6.50.

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Source: SEC EDGAR

accession 0001171843-23-003786

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