Thor Industries drops on lower FY25 forecast as customers limit big-ticket purchases

THOR Industries

24/09/2024 12:07

** Shares of Thor Industries  THO.N  fall 2.4% at $100.74
premarket
    ** Recreational vehicles maker forecasts FY25 consolidated
net sales between $9 bln-$9.8 bln, below LSEG estimates of
$10.45 bln
    ** Expects the RV market to remain challenging throughout
FY25 on softer market volumes in North America and Europe
    ** Co remains cautious on the global economic outlook and
its impact on consumer demand for sizeable discretionary
purchases
    ** "We are expecting that dealers will hold off as long as
possible on stocking for the spring selling season to keep
inventory levels low over the winter months," co says
    ** Sees FY25 diluted EPS in $4-$5 range, below LSEG
estimates of $6.56
    ** FY24 net sales fall 9.7% to $10.04 bln vs FY23, EPS
declines 28.9% to $4.94
    ** THO down ~13% YTD, as of last close

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))