(RTTNews) - THOR Industries, Inc. (THO) reconfirmed initial financial forecast and guidance for fiscal 2025. The company expects to have a challenging second quarter ahead, followed by stronger third and fourth quarters. By the end of fiscal 2025, the company anticipates that the retail market will begin to trend positively, setting up fiscal 2026 to be a stronger year.
For fiscal 2025, the guidance includes: net sales in the range of $9.0 billion to $9.8 billion; gross profit margin in the range of 14.7% to 15.2%; and earnings per share in the range of $4.00 to $5.00.
First quarter net loss attributable to THOR was $1.8 million or $0.03 per share compared to net income of $53.6 million or $0.99 per share, a year ago. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.72, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $107.78 million compared to $166.92 million, previous year. Gross profit margin was 13.1%, a decrease of 120 basis points from a year ago.
First quarter net sales were $2.14 billion, compared to $2.50 billion, prior year, a decrease of 14.3%. Analysts on average had estimated $2.23 billion in revenue.
Shares of THOR are down 3% in pre-market trade on Wednesday.
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