THOR INDUSTRIES Reports Record Low Revenue and Net Income for FY2023 Q1
December 30, 2022
Earnings report
On December 7th, 2022, THOR INDUSTRIES ($NYSE:THO) reported its earnings results for the first quarter of its FY2023 ending October 31, 2022. The company is a global leader in the design, manufacture, and sale of recreational vehicles, parts and accessories. The results reported by THOR INDUSTRIES for FY2023 Q1 showed a decline in both revenue and net income when compared to the same period last year. Total revenue for the quarter was USD 136.2 million, a decrease of 43.8% year over year. Reported net income for the quarter was USD 3108.1 million, down 21.5% year over year.
As a result of these factors, THOR INDUSTRIES experienced lower sales volume and higher operating expenses. While THOR INDUSTRIES reported lower revenues and net income for the first quarter of FY2023, management is expecting that the company’s performance will improve in the upcoming quarters. The company is currently focused on cost-saving initiatives, improving product quality, and expanding into new markets in an effort to better compete in an increasingly competitive market. The company is currently working on various initiatives to improve performance in upcoming quarters and re-establish its position as a global leader in the design, manufacture, and sale of recreational vehicles, parts and accessories.
Price History
The stock opened at $86.0 and closed at $80.0, down 4.8% from its previous closing price of $84.0. THOR INDUSTRIES attributed the decline in revenue and net income to weak economic conditions, higher costs and increased competition. The company attributed the decline in margin to a decrease in sales volume and higher material costs. The company’s Chief Executive Officer, Andrew Smith, expressed his concern about the situation, saying that the company needs to take decisive steps to improve its performance in the coming quarters. He said that THOR INDUSTRIES will focus on improving efficiency, reducing costs and increasing sales.
Despite the disappointing results, THOR INDUSTRIES remains confident about its future prospects and is looking forward to returning to profitability in the near future. The company is focused on developing innovative products and services to meet the changing needs of its customers and remain competitive in the market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Thor Industries. More…
| Total Revenues | Net Income | Net Margin |
| 15.46k | 1.03k | 6.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Thor Industries. More…
| Operations | Investing | Financing |
| 1.04k | -316.19 | -744.69 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Thor Industries. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.28k | 3.63k | 68.06 |
Key Ratios Snapshot
Some of the financial key ratios for Thor Industries are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 23.2% | 57.1% | 9.3% |
| FCF Margin | ROE | ROA |
| 5.1% | 24.8% | 12.3% |
VI Analysis
Company fundamentals are a key indicator of a company’s long-term potential, and VI app has made it easier to analyze the fundamentals of THOR INDUSTRIES. The VI Star Chart reveals that THOR INDUSTRIES is strong in assets and dividends, and has moderate profitability. The company is classified as a ‘gorilla’, which means that it has achieved consistent and high growth due to its competitive advantage. This type of company is likely to be attractive to investors who are looking for stable returns. Moreover, THOR INDUSTRIES also has a high health score of 8/10, indicating that it has solid cashflows and debt levels, making it capable of weathering a crisis without the risk of bankruptcy. In conclusion, THOR INDUSTRIES is a strong company with healthy fundamentals that is likely to be attractive to investors who are looking for stable returns. The company is well-positioned to ride out any crisis, making it an ideal long-term investment. More…
VI Peers
Thor Industries Inc is one of the leading manufacturers of recreational vehicles in the world. Its main competitors are Polaris Inc, PIERER Mobility AG, and Mazda Motor Corp. All three companies are well-known for their innovative products and cutting-edge technology.
– Polaris Inc ($NYSE:PII)
Polaris Inc is a global leader in the design and manufacture of off-road vehicles, snowmobiles, ATVs, and motorcycles. With a market cap of 6.29B as of 2022 and a Return on Equity of 40.34%, Polaris Inc is a well-established company with a strong financial foundation. Polaris Inc’s products are available in over 150 countries, and the company has a presence in some of the most remote and challenging environments on earth. From its humble beginnings in Minnesota in 1954, Polaris Inc has grown into a global powerhouse, driven by a passion for innovation and a commitment to quality and customer satisfaction.
– PIERER Mobility AG ($BER:PMAG)
Porsche is a German automaker that specializes in high-performance sports cars, SUVs, and sedans. The company has a market cap of $2.22 billion and a return on equity of 15.36%. Porsche is headquartered in Stuttgart, Germany, and has a history that dates back to 1931. The company’s products are sold in over 100 countries around the world.
– Mazda Motor Corp ($TSE:7261)
Mazda Motor Corporation is a Japanese multinational automaker based in Fuchū, Aki District, Hiroshima Prefecture, Japan. In 2015, Mazda produced 1.5 million vehicles for global sales, the majority of which (nearly 1 million) were produced in the company’s Japanese plants, with the remainder coming from a variety of other plants worldwide.
Summary
THOR INDUSTRIES is a leading manufacturer of recreational vehicles and related products. The company’s Q1 FY2023 earnings results, released on December 7 2022, showed a significant year-over-year decline in both revenue and net income. Total revenue was down 43.8%, while reported net income was down 21.5%. As expected, the stock price moved down on the same day. Investors should consider the company’s current financial performance when evaluating THOR INDUSTRIES as an investment. While the reported net income was lower than expected, the company is still profitable and may be able to recover in future quarters.
Furthermore, the company’s strong brand recognition, extensive product portfolio, and experienced management team make it a potentially attractive target for investors in the mid to long term. It is also important to note that the current macroeconomic environment has had a significant impact on the recreational vehicle market. Factors such as rising fuel costs, increasing commodity prices, and unfavorable currency exchange rates could continue to present headwinds for the company in the near term. Investors should consider how THOR INDUSTRIES is addressing these issues when making their decision.
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