2024 Highlights

Three Months Ended July 31

Net Sales: $2,534,167 ($ in thousands)
– 7.4% change from 2023

Gross Profit: $401,331 ($ in thousands)
– 1.8% change from 2023

Gross Profit Margin: 15.8%, +140 bps from 2023

Net Income Attributable to THOR: $90,015 ($ in thousands)
– 0.3% change from 2023

Diluted Earnings Per Share: $1.68
– no change from 2023

Cash Flows from Operations: $338,016 ($ in thousands)
– 33.4% change from 2023

Fiscal Years Ended July 31

Net Sales: $10,043,408 ($ in thousands)
– 9.7% change from 2023

Gross Profit: $1,451,962 ($ in thousands)
– 9.0% change from 2023

Gross Profit Margin: 14.5%, +10 bps from 2023

Net Income Attributable to THOR: $265,308 ($ in thousands)
– 29.1% change from 2023

Diluted Earnings Per Share: $4.94
– 28.9% change from 2023

Cash Flows from Operations: $545,548 ($ in thousands)
– 44.4% change from 2023

Fiscal Fourth Quarter 2024

Net sales for the fourth quarter were $2.53 billion, a decrease of 7.4% as compared to the fourth quarter of fiscal 2023. Consolidated gross profit margin for the fourth quarter was 15.8%, a 140 basis point improvement over the comparable prior-year period, aided in part by a favorable LIFO inventory adjustment due to reductions in inventory levels as well as an improved warranty cost percentage.

Effect on Me

Based on the financial results of 2024, the company’s performance has shown a decline in net sales, gross profit, net income, and cash flows from operations compared to the previous year. As a shareholder or employee of the company, this could potentially impact dividends, bonuses, and job stability.

Effect on the World

The decrease in net sales and profitability of the company may have broader implications on the global economy, as it could signify a slowdown in consumer spending, changes in market trends, or shifts in industry competition. This could affect suppliers, partners, and competitors in the industry.

Conclusion

In conclusion, the financial results of 2024 show a challenging year for the company, with decreases in key performance indicators such as net sales, gross profit, and net income. It will be important for the company to focus on strategic initiatives and operational efficiencies to improve financial performance and regain growth momentum in the coming years.