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<h3 id="key-highlights">Key Highlights</h3>
<ul>
 <li><strong>Financial Performance:</strong> THOR Industries, Inc. (NYSE: THO) reported first-quarter fiscal 2024 net sales of $2.50 billion, a significant decrease from $3.11 billion in the same period last year. However, the diluted earnings per share (EPS) were $0.99, surpassing the expected EPS of $0.95.</li>
 <li><strong>Segment Performance:</strong> The North American Towable RVs segment experienced a substantial decrease in net sales by 28.3%, with a gross profit margin of 12.5%. Conversely, European RVs segment saw a 40.4% increase in net sales, with an improved gross profit margin of 17.3%.</li>
 <li><strong>Corporate Outlook:</strong> THOR Industries reaffirms its full-year fiscal 2024 outlook, emphasizing their strategic initiatives and operational execution amidst challenging market conditions. The company projects consolidated net sales of $10.5 to $11.0 billion for fiscal 2024.</li>
</ul>
<p>THOR Industries, Inc. (NYSE: THO) reported a mixed financial performance in the first quarter of fiscal 2024. Despite the challenging market conditions, the company surpassed the expected earnings per share (EPS) of $0.95, achieving an EPS of $0.99. However, this achievement comes amidst a notable decline in net sales, which dropped from $3.11 billion in the first quarter of the previous fiscal year to $2.50 billion in the current fiscal year. This decline represents a significant challenge for the company, reflecting the broader economic trends and market pressures in the recreational vehicle (RV) industry.</p>
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<h3 id="net-sales-in-north-american-towable-rvs-segment-down-28-3">Net Sales in North American Towable RVs Segment Down 28.3%</h3>
<p>The performance of THOR Industries’ segments presents a contrasting picture. The North American Towable RVs segment witnessed a significant downturn, with net sales plummeting by 28.3% and a gross profit margin decline to 12.5%. This downturn is attributed to decreased unit shipments and shifting product mixes towards more moderately-priced units. On the other hand, the European RVs segment exhibited robust growth, with net sales increasing by 40.4% and a notable improvement in gross profit margin to 17.3%. This growth was driven by a combination of increased unit shipments and net price per unit due to favorable foreign currency exchange rates and product mix changes.</p>
<p>In the face of a challenging RV environment, particularly in North America, THOR Industries remains committed to its strategic initiatives and operational execution. The company’s management is focused on managing cost structures, adapting commercial strategies, and maintaining a variable cost model to respond to market conditions.<br><br>THOR Industries reaffirms its full-year fiscal 2024 outlook, projecting consolidated net sales in the range of $10.5 to $11.0 billion. The company’s approach reflects a blend of resilience and adaptability, as it continues to navigate through macroeconomic uncertainties and market shifts.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/thor-industries-beats-eps-forecast-with-0-99-despite-sales-drop-in-q1/">THOR Industries Beats EPS Forecast with $0.99, Despite Sales Drop in Q1</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

THOR Industries Beats EPS Forecast with $0.99, Despite Sales Drop in Q1

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