Thor Industries, Inc. Provides Production and Sales Guidance for the Second Half of 2019
March 06, 2019 at 05:15 pm IST
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Thor Industries, Inc. provided production and sales guidance for the second half of 2019. For the period, the company announced that as dealers continue to rationalize inventory levels following the unusually high seasonal order and wholesale delivery patterns in the first nine months of fiscal 2018, the company has taken steps to adjust its production levels accordingly. A number of Thor's production facilities have reduced their production unit rates, while others have shifted to four-day production weeks. These reductions, combined with the start of the stronger spring and summer selling season, are expected to result in reductions in Thor's finished goods inventory. Finished goods inventory levels were elevated at January 31, 2019, in part due to the unusually bitter winter weather which forced most of the company's operations to close for several days at the end of the fiscal second quarter. As a result of these factors, the company expects that production and wholesale sales will be balanced with overall retail demand by the end of the normally stronger second half of the fiscal year.
THOR Industries, Inc. is a manufacturer of recreational vehicles (RVs). The Company operates through three segments: North American Towable Recreational Vehicles, North American Motorized Recreational Vehicles and European Recreational Vehicles. The North American Towable Recreational Vehicles segment consists of Airstream (towable), Heartland (including Cruiser RV and DRV), Jayco (including Jayco towable, Starcraft and Highland Ridge), Keystone (including CrossRoads and Dutchmen), and KZ (including Venture RV). The North American Motorized Recreational Vehicles segment consists of Airstream (motorized), Jayco (including Jayco motorized and Entegra Coach), Thor Motor Coach and the Tiffin Group. The European Recreational Vehicles segment consists of the EHG business. EHG manufactures a full line of motorized and towable recreational vehicles, including motorcaravans, campervans, urban vehicles and caravans in eight RV production facilities within Europe.