Thor Industries Inc

THO: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Thor Earnings: Rough Start to Fiscal 2025 Is Not a Surprise Nor Worrisome For Now

David Whiston

Dec 4, 2024

Thor management expects no improvement in demand until the second half of fiscal 2025, and fiscal first-quarter 2025 results on Dec. 4 show that the story is playing out. We are not changing our fair value estimate. A $15.5 million restructuring charge yielded negative earnings per share of $0.03, but management sees over $10 million of annual cost savings from headcount reductions and closure of an Idaho plant for the Heartland brand. The firm eliminated the management layer between Thor’s various North American subsidiaries and CEO Bob Martin so that he is more hands-on with his leadership, a role he’s had in the past.

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Thor Industries Inc

Thor Earnings: Rough Start to Fiscal 2025 Is Not a Surprise Nor Worrisome For Now

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