RV Maker Thor Industries Posts Unexpected Loss Amid 'Soft' Retail Environment

Group 1 - Thor Industries reported a fiscal first-quarter loss of $1.8 million or 3 cents per share, contrasting with a profit of $53.57 million or 99 cents per share a year earlier, and below the analyst expectation of a profit of $33.58 million or 64 cents per share [1][2][3] - Revenue for Thor Industries fell 14% year-over-year to $2.14 billion, which was below the analyst consensus [2][3] - CEO Bob Martin indicated that the disappointing results were due to a "soft retail and wholesale environment" and stated that the company would avoid increasing independent dealer inventory levels until market conditions improve [1][3] Group 2 - Thor Industries reiterated its full-year revenue forecast of $9 billion to $9.8 billion and earnings per share (EPS) estimate of $4 to $5, while analysts had projected $9.7 billion in revenue and EPS of $4.70 prior to the results [3] - Shares of Thor slid around 2% intraday on the day of the announcement and have fallen more than 9% in 2024 [4]