Thor Industries Posts Q4 Earnings Above Street View - Thor Industries (NYSE:THO)

Thor Industries Inc THO reported fourth-quarter FY22 sales growth of 6.4% year-on-year to $3.82 billion, beating the consensus of $3.68 billion.
Net sales from the North American Towable RVs rose 3.8% Y/Y, North American motorized RVs climbed 24.5%, and the European RVs decreased 16.8%.
EPS of $5.15 beat the analyst consensus of $3.84.
The gross profit margin increased 90 basis points Y/Y to 17.5%. Selling, general and administrative expenses rose 8.5% Y/Y to $271.5 million.
As of July 31, 2022, the inventories amounted to $1.8 billion.
The company held $311.6 million in cash and equivalents as of July 31, 2022.
In Q4, the Board of Directors approved an additional authorization for share repurchases of about $450 million, raising the total authorization granted during FY22 to about $700 million.
"During the fiscal fourth quarter, and consistent with our previously announced expectations, we experienced a softening in towable order activity due to successful dealer restocking of towable units combined with lower consumer confidence and macroeconomic uncertainty, which adversely impacted end consumer demand," said CEO Bob Martin,
Price Action: THO shares traded higher by 2.30% at $73.40 in premarket on the last check Wednesday.