By Dean Seal
Thor Industries lowered its full-year outlook after margin pressures swung it to a loss in the fiscal second quarter.
The maker of Airstream and Jayco RVs said it now expects $9 billion to $9.5 billion in sales in fiscal 2025, cutting the upper end of its previous guidance by $300 million.
Earnings are now on track to hit $3.30 to $4 a share, down from a prior outlook of $4 to $5 a share.
While sales in the first half of the fiscal year were in line with expectations, pressure on margins has been higher than anticipated amid tough conditions in the North American and European markets, said Chief Operating Officer Todd Woelfer. Strategic actions Thor has implemented with its dealer partners have also softened margins, he said.
For the quarter ended Jan. 31, Thor posted a loss of $551,000, compared with a profit of $7.2 million in the same quarter a year ago.
Per share, the loss was 1 cent. Analysts surveyed by FactSet had been expecting earnings of 8 cents a share.
Sales fell 8.6% to $2.02 billion, topping analyst projections for $1.98 billion, according to FactSet.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
March 05, 2025 06:43 ET (11:43 GMT)
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