FYI Thor's second quarter fiscal 2023 results

[Neal]

THOR Industries Announces Second Quarter Fiscal 2023 Results

DELIVERS RESILIENT PERFORMANCE IN CHALLENGING MARKET ENVIRONMENT Net sales for the second quarter were $2.35 billion, a decrease of 39.4% compared to the record second quarter of fiscal 2022 and a decrease of 14.0% over the same quarter of fiscal year 2021. Consolidated gross profit margin for...

ir.thorindustries.com

• Net sales for the second quarter were $2.35 billion, a decrease of 39.4% compared to the record second quarter of fiscal 2022 and a decrease of 14.0% over the same quarter of fiscal year 2021.
• Consolidated gross profit margin for the second quarter was 12.1%, a decrease of 530 basis points when compared to the second quarter of fiscal year 2022 and a 310 basis point decrease compared to the second quarter of fiscal year 2021.
• Earnings per share for the second quarter were $0.50 per diluted share, down from $4.79 per diluted share in the same period of the prior fiscal year and down from $2.38 per diluted share in the second quarter of fiscal year 2021.
• Net cash provided by operations for the first half of fiscal 2023 was $185.3 million as compared to net cash provided by operations of $298.1 million for the first half of fiscal 2022 and net cash used in operations of $88.6 million for the first half of fiscal 2021.
• The Company revised its full-year fiscal 2023 net sales and diluted earnings guidance with a current net sales estimate of between $10.5 billion to $11.5 billion and diluted earnings per share in the range of $5.50 to $6.50.

 

[sheridany]

Not surprised at all. We all knew it was coming. Just a matter of when.

 

[DHudson]

Probably need to compare numbers to 2018/2019 to see where they "should" be: before the plandemic hit.

 

[AbdRahim]

Perhaps if they increased quality, they would increase sales. Excuse theVulcan logic again.

 

[Jim]

Party's over. Was fun while it lasted though. . .

 

[Bigblockyeti]

Probably need to compare numbers to 2018/2019 to see where they "should" be: before the plandemic hit.

This could be said for many companies, the auto industry has recovered but realized they can make close to the same money by just charging more and employing fewer to crank out less vehicles, dealerships are following suit by sticking many with prices over MSRP. I'm anxiously awaiting the bubble to pop!