THOR INDUSTRIES Reports Second Quarter Earnings for Fiscal Year 2023

Earnings Overview

On March 7, 2023, THOR INDUSTRIES ($NYSE:THO) reported their second quarter earnings results for fiscal year 2023 (ending January 31, 2023). Total revenue for the quarter totaled USD 27.1 million, representing an 89.8% decrease compared to the same period in the previous year. Net income also declined 39.4% from the same period last year, totaling USD 2346.6 million.

Share Price

The company reported strong earnings and revenue growth, driven by strong demand for its recreational vehicles. In spite of the positive results, THOR INDUSTRIES‘ stock opened at $87.7 and closed at $89.1, down by 3.8% from prior closing price of 92.6. The company noted that its sales have been driven by strong demand for recreational vehicles, and that its order backlog remains strong. THOR INDUSTRIES also noted that its liquidity position is healthy and that it has access to additional capital if needed.

Overall, the earnings report released by THOR INDUSTRIES was positive and the company remains well-positioned for continued success in the coming quarters. Despite this, its stock ended the day lower due to profit taking and concerns about potential market volatility in the near future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Thor Industries. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Thor Industries. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Thor Industries. More…

Key Ratios Snapshot

Some of the financial key ratios for Thor Industries are shown below. More…

Analysis

As part of our analysis of THOR INDUSTRIES‘s wellbeing, we used our Star Chart methodology to assess the company’s performance. We found that THOR INDUSTRIES is strong in asset, dividend, growth and medium in profitability, giving it an overall health score of 8/10. This indicates the company has a strong cash flow and debt capacity, enabling it to sustain future operations even in times of crisis. Based on our results, we classify THOR INDUSTRIES as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Investors who are looking for stable returns and value creation over the long-term may be interested in investing in such a company. More…

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

Investors should take note of THOR INDUSTRIES‘ second quarter earnings results for fiscal year 2023, which were released on March 7 2023. Total revenue for the quarter was down 89.8% from the same period last year, with net income falling 39.4%. This had an immediate effect on the stock price, which fell on the same day. Analysts should consider these results when looking at the future of THOR INDUSTRIES, as they could indicate potential issues in the near term that could affect the company’s performance.