EXHIBIT 99.1

THOR Industries Announces Third Quarter Fiscal 2023 Results

DISCIPLINED PRODUCTION, VARIABLE COST MODEL AND STRONG PERFORMANCE OF THE EUROPEAN SEGMENT UNDERPIN SOLID THIRD QUARTER RESULTS

• Net sales for the third quarter were $2.93 billion, a decrease of 37.1% compared to the record third quarter of fiscal 2022 and a decrease of 15.3% over the same quarter of fiscal year 2021.
• Consolidated gross profit margin for the third quarter was 14.8%, a decrease of 250 basis points when compared to the third quarter of fiscal year 2022 and a 20 basis point increase compared to the third quarter of fiscal year 2021.
• Earnings per share for the third quarter were $2.24 per diluted share, down from $6.32 per diluted share in the same period of the prior fiscal year and down from $3.29 per diluted share in the third quarter of fiscal year 2021.
• Net cash provided by operations for the first nine months of fiscal 2023 was $474.1 million as compared to net cash provided by operations of $637.5 million for the first nine months of fiscal 2022 and net cash used in operations of $175.1 million for the first nine months of fiscal 2021.
• The Company is raising the low end of its full year fiscal 2023 diluted earnings per share guidance from the previous range of $5.50 to $6.50 to the updated range of $5.80 to $6.50.
  

ELKHART, Ind., June 06, 2023 (GLOBE NEWSWIRE) -- THOR Industries, Inc. (NYSE: THO) today announced financial results for its third fiscal quarter ended April 30, 2023.

“Market conditions continue to be challenging as dealers and consumers face increasing pressures from the macro environment. In this difficult setting, we remain focused on executing our business model that enables us to quickly adapt to market conditions. Consequently, our performance during the fiscal third quarter was solid relative to broader market conditions. Despite dynamics currently affecting the operating environment along with the difficult comparison to record results in the prior-year period, each of our segments largely met or exceeded internal expectations during the quarter. In our European segment, pricing and operational initiatives combined with moderate improvements in chassis availability and resilient demand contributed to strong sequential and year-over-year growth as we continue to realize the value of our European operations. In North America, moderately higher production volumes compared to our second quarter along with greater activity on dealer lots than we saw last quarter resulted in operating results that well exceeded our fiscal 2023 second quarter results,” said Bob Martin, President and CEO of THOR Industries.

Third-Quarter Financial Results

Consolidated net sales were $2.93 billion in the third quarter of fiscal 2023, compared to $4.66 billion in the third quarter of fiscal 2022 and $3.46 billion in the third quarter of fiscal 2021.

Consolidated gross profit margin for the third quarter was 14.8%, a decrease of 250 basis points when compared to the third quarter of fiscal year 2022 and a 20-basis point increase when compared to the third quarter of fiscal year 2021.

Net income attributable to THOR Industries and diluted earnings per share for the third quarter of fiscal 2023 were $120.7 million and $2.24, respectively, compared to $348.1 million and $6.32, respectively, for the prior-year period and $183.3 million and $3.29, respectively, for the third quarter of fiscal 2021.

Our consolidated results were driven by the results of our individual segments as noted below.

Segment Results

North American Towable RVs

• North American Towable RV net sales were down 57.4% for the third quarter of fiscal 2023 compared to the prior-year period, driven primarily by a 57.3% decrease in unit shipments. The decrease in unit shipments is primarily due to a softening in current dealer and consumer demand in comparison with the unusually strong third quarter demand in the prior-year quarter, which included independent dealers restocking their lot inventory levels.
• North American Towable RV gross profit margin was 12.8% for the third quarter of fiscal 2023, compared to 17.2% in the prior-year period. The decrease in gross profit margin for the third quarter was primarily driven by higher manufacturing overhead, warranty and direct labor percentages, partially offset by a decrease in the material cost percentage due to the combined favorable impacts of product mix changes, net selling price increases and cost savings initiatives exceeding the impact of increased sales discounts.
• North American Towable RV income before income tax for the third quarter of fiscal 2023 was $77.6 million, compared to income before income tax of $326.7 million in the third quarter last year, with the decrease driven by the decrease in net sales and the decline in the gross margin percentage.
  

North American Motorized RVs

• North American Motorized RV net sales decreased 24.4% for the third quarter of fiscal 2023 compared to the prior-year period. The decrease was driven primarily by a 21.2% decrease in unit shipments and a 3.2% decrease in the overall net price per unit primarily due to changes in product mix.
• North American Motorized RV gross profit margin was 11.7% for the third quarter of fiscal 2023, compared to 16.5% in the prior-year period. The decrease in the gross profit margin percentage for the third quarter was primarily driven by an increase in sales discounts, higher warranty costs and an increase in manufacturing overhead costs as a percentage of sales due to the reduction in sales.
• North American Motorized RV income before income tax for the third quarter of fiscal 2023 decreased to $48.2 million compared to $116.3 million a year ago, driven by the decline in the gross margin percentage and the decrease in net sales.
  

European RVs

• European RV net sales increased 19.7% for the third quarter of fiscal 2023 compared to the prior-year period, driven by a 22.2% increase in the overall net price per unit due to the total combined impact of changes in foreign currency, product mix and price, partially offset by a 2.5% decrease in unit shipments. The decrease due to the foreign exchange rate decline of 2.7% was more than offset by net selling price increases and product mix changes.
• European RV gross profit margin was 17.5% of net sales for the third quarter compared to 13.8% in the prior-year period. This improvement in the gross profit margin percentage for the quarter was primarily driven by net selling price increases, product mix changes and a reduction in the labor cost percentage.
• European RV income before income tax for the third quarter of fiscal 2023 was $72.4 million, compared to net income before income tax of $20.6 million during the third quarter of fiscal 2022. The improvement in income before income taxes was primarily driven by the improvement in the gross margin percentage and the increase in net sales.
  

Management Commentary

“Solid operational execution enabled THOR to effectively navigate a dynamic industry environment and generate $2.93 billion of consolidated net sales and $120.7 million of net income attributable to THOR in the third quarter of fiscal 2023. As expected, our consolidated gross profit margin improved sequentially versus the fiscal second quarter driven by higher production volumes, disciplined execution, and ongoing employment of our variable cost model,” said Colleen Zuhl, Senior Vice President and Chief Financial Officer.

“In North America, we continue to prudently manage wholesale production levels given cautious ordering patterns by our independent dealers amid an uncertain market environment. Given the seasonal step-up in retail demand we experienced as we progressed through the fiscal third quarter, our teams were able to assist independent dealers in destocking approximately 8,300 units from channel inventory and reducing a substantial number of prior-model-year units. In addition, our operating teams continue to employ our proven variable cost model by further temporarily rightsizing the manufacturing footprint and implementing cost reduction initiatives targeted at keeping our operating costs in line with market conditions. These actions, and the progress we achieved during our third fiscal quarter, enhance our position as we execute through the balance of the fiscal year,” said Todd Woelfer, Senior Vice President and Chief Operating Officer.

“In Europe, we delivered strong fiscal third quarter results reflecting the benefits of pricing actions previously taken to offset material and other input costs, operational efficiencies and moderate improvements in chassis supply. We continue to experience favorable market dynamics in Europe as consumer demand remains resilient in many of the geographic areas we serve, while the restocking cycle for motorized products is set to extend into early fiscal 2024. Additionally, our Nowa Sól, Poland manufacturing facility started its commercial operations late in the fiscal third quarter and will enable us to expand the reach of our product offerings in Europe as production is scaled up over the next 24 to 36 months,” continued Woelfer.

“Net cash provided by operating activities for the nine months ended April 30, 2023, totaled $474.1 million, including $288.8 million provided in the third fiscal quarter, as a result of our strong, strategic operating performance. This solid cash generation during the quarter allowed the Company to pay down $90.0 million on our U.S. Term Loan B and $35.0 million on our ABL as well as repurchase 210,799 shares of our common stock at a weighted-average price of $78.75 for an aggregate purchase price of approximately $16.6 million. Subsequent to the end of the fiscal third quarter, we paid down an additional $85.0 million on our U.S. Term Loan B and made principal payments totaling $50.0 million to fully pay off the outstanding balance on our ABL, further solidifying an already strong balance sheet amid a soft macroeconomic environment. Looking ahead, we remain committed to maintaining a strong balance sheet and leveraging our cash flow to drive enhanced shareholder value,” added Zuhl.

Outlook

“Our team made significant progress during the fiscal third quarter to position us for improved long-term performance. During the quarter we worked with our independent dealers to reduce channel inventory, rightsized our product offerings based on current demand trends and continued to leverage our variable cost model in an effort to preserve margins. While we are encouraged by our fiscal third quarter results, we anticipate certain macroeconomic challenges to persist in the near-term. As we continue to navigate through and adapt to evolving economic conditions, our operational discipline and flexible business model continue to position us to deliver solid results. Our production will continue to align to retail pull-through, and we will maintain this discipline as we move to model year 2024 products towards the end of our fiscal fourth quarter. Combined, our efforts to move model year 2022 units through the retail cycle and our disciplined production of model year 2023 units to lower overall channel inventory levels position us well for the model year 2024 rollout. While we anticipate these efforts will result in sequentially lower fiscal fourth quarter financial results, we believe these strategies will bolster our relative performance next fiscal year. As the current macro environment remains fluid, our fiscal third quarter results demonstrate our commitment to positioning the business to excel across the business cycle, and our teams remain focused on delivering a strong finish to fiscal 2023,” concluded Martin.

Fiscal 2023 Guidance

The Company is updating its most recent full-year fiscal 2023 guidance ranges to reflect the strong third quarter performance partially offset by an expected reduction in our fiscal fourth quarter production volumes of North American towable products in anticipation of the model year 2024 changeover. The revised ranges continue to reflect heightened macroeconomic uncertainty as well as the impact of fiscal fourth quarter strategies to position our independent dealers for improved future performance.

For fiscal 2023, the Company’s updated full-year guidance includes:

• Consolidated net sales in the range of $10.5 billion to $11.0 billion (previously $10.5 billion to $11.5 billion)
• Consolidated gross profit margin in the range of 13.8% to 14.2% (previously 13.4% to 14.2%)
• Diluted earnings per share in the range of $5.80 to $6.50 (previously $5.50 to $6.50)
  

Supplemental Earnings Release Materials

THOR Industries has provided a comprehensive question and answer document, as well as a PowerPoint presentation, relating to its quarterly results and other topics.

To view these materials, go to http://ir.thorindustries.com.

About THOR Industries, Inc.

THOR Industries is the sole owner of operating companies which, combined, represent the world’s largest manufacturer of recreational vehicles.

For more information on the Company and its products, please go to www.thorindustries.com.

Forward-Looking Statements

This release includes certain statements that are “forward-looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made based on management’s current expectations and beliefs regarding future and anticipated developments and their effects upon THOR, and inherently involve uncertainties and risks. These forward-looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors which could cause materially different results include, among others: the impact of inflation on the cost of our products as well as on general consumer demand; the effect of raw material and commodity price fluctuations, and/or raw material, commodity or chassis supply constraints; the impact of war, military conflict, terrorism and/or cyber-attacks, including state-sponsored or ransom attacks; the impact of sudden or significant adverse changes in the cost and/or availability of energy or fuel, including those caused by geopolitical events, on our costs of operation, on raw material prices, on our suppliers, on our independent dealers or on retail customers; the dependence on a small group of suppliers for certain components used in production, including chassis; interest rate fluctuations and their potential impact on the general economy and, specifically, on our profitability and on our independent dealers and consumers;   the ability to ramp production up or down quickly in response to rapid changes in demand while also managing costs and market share; the level and magnitude of warranty and recall claims incurred; the ability of our suppliers to financially support any defects in their products; legislative, regulatory and tax law and/or policy developments including their potential impact on our independent dealers, retail customers or on our suppliers; the costs of compliance with governmental regulation; the impact of an adverse outcome or conclusion related to current or future litigation or regulatory investigations; public perception of and the costs related to environmental, social and governance matters; legal and compliance issues including those that may arise in conjunction with recently completed transactions; lower consumer confidence and the level of discretionary consumer spending; the impact of exchange rate fluctuations; restrictive lending practices which could negatively impact our independent dealers and/or retail consumers; management changes; the success of new and existing products and services; the ability to maintain strong brands and develop innovative products that meet consumer demands; the ability to efficiently utilize existing production facilities; changes in consumer preferences; the risks associated with acquisitions, including: the pace and successful closing of an acquisition, the integration and financial impact thereof, the level of achievement of anticipated operating synergies from acquisitions, the potential for unknown or understated liabilities related to acquisitions, the potential loss of existing customers of acquisitions and our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production and increasing labor costs and related employee benefits to attract and retain production personnel in times of high demand; the loss or reduction of sales to key independent dealers; disruption of the delivery of units to independent dealers or the disruption of delivery of raw materials, including chassis, to our facilities; increasing costs for freight and transportation; the ability to protect our information technology systems from data breaches, cyber-attacks and/or network disruptions; asset impairment charges; competition; the impact of losses under repurchase agreements; the impact of the strength of the U.S. dollar on international demand for products priced in U.S. dollars; general economic, market and political conditions in the various countries in which our products are produced and/or sold; the impact of changing emissions and other related climate change regulations in the various jurisdictions in which our products are produced, used and/or sold; changes to our investment and capital allocation strategies or other facets of our strategic plan; and changes in market liquidity conditions, credit ratings and other factors that may impact our access to future funding and the cost of debt.

These and other risks and uncertainties are discussed more fully in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2023 and in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2022.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Contact:
Michael Cieslak, CFA
mcieslak@thorindustries.com
(574) 294-7724

EXHIBIT 99.2

www.thorindustries.com THIRD QUARTER OF FISCAL 2023 FINANCIAL RESULTS FORWARD - LOOKING STATEMENTS This presentation includes certain statements that are “forward - looking” statements within the meaning of the U . S . Private Securities Litigation Reform Act of 1995 , Section 27 A of the Securities Act of 1933 , as amended, and Section 21 E of the Securities Exchange Act of 1934 , as amended . These forward - looking statements are made based on management’s current expectations and beliefs regarding future and anticipated developments and their effects upon THOR, and inherently involve uncertainties and risks . These forward - looking statements are not a guarantee of future performance . We cannot assure you that actual results will not differ materially from our expectations . Factors which could cause materially different results include, among others : the impact of inflation on the cost of our products as well as on general consumer demand ; the effect of raw material and commodity price fluctuations, and/or raw material, commodity or chassis supply constraints ; the impact of war, military conflict, terrorism and/or cyber - attacks, including state - sponsored or ransom attacks ; the impact of sudden or significant adverse changes in the cost and/or availability of energy or fuel, including those caused by geopolitical events, on our costs of operation, on raw material prices, on our suppliers, on our independent dealers or on retail customers ; the dependence on a small group of suppliers for certain components used in production, including chassis ; interest rate fluctuations and their potential impact on the general economy and, specifically, on our profitability and on our independent dealers and consumers ; the ability to ramp production up or down quickly in response to rapid changes in demand while also managing costs and market share ; the level and magnitude of warranty and recall claims incurred ; the ability of our suppliers to financially support any defects in their products ; legislative, regulatory and tax law and/or policy developments including their potential impact on our independent dealers, retail customers or on our suppliers ; the costs of compliance with governmental regulation ; the impact of an adverse outcome or conclusion related to current or future litigation or regulatory investigations ; public perception of and the costs related to environmental, social and governance matters ; legal and compliance issues including those that may arise in conjunction with recently completed transactions ; lower consumer confidence and the level of discretionary consumer spending ; the impact of exchange rate fluctuations ; restrictive lending practices which could negatively impact our independent dealers and/or retail consumers ; management changes ; the success of new and existing products and services ; the ability to maintain strong brands and develop innovative products that meet consumer demands ; the ability to efficiently utilize existing production facilities ; changes in consumer preferences ; the risks associated with acquisitions, including : the pace and successful closing of an acquisition, the integration and financial impact thereof, the level of achievement of anticipated operating synergies from acquisitions, the potential for unknown or understated liabilities related to acquisitions, the potential loss of existing customers of acquisitions and our ability to retain key management personnel of acquired companies ; a shortage of necessary personnel for production and increasing labor costs and related employee benefits to attract and retain production personnel in times of high demand ; the loss or reduction of sales to key independent dealers ; disruption of the delivery of units to independent dealers or the disruption of delivery of raw materials, including chassis, to our facilities ; increasing costs for freight and transportation ; the ability to protect our information technology systems from data breaches, cyber - attacks and/or network disruptions ; asset impairment charges ; competition ; the impact of losses under repurchase agreements ; the impact of the strength of the U . S . dollar on international demand for products priced in U . S . dollars ; general economic, market and political conditions in the various countries in which our products are produced and/or sold ; the impact of changing emissions and other related climate change regulations in the various jurisdictions in which our products are produced, used and/or sold ; changes to our investment and capital allocation strategies or other facets of our strategic plan ; and changes in market liquidity conditions, credit ratings and other factors that may impact our access to future funding and the cost of debt . These and other risks and uncertainties are discussed more fully in our Quarterly Report on Form 10 - Q for the quarter ended April 30 , 2023 and in Item 1 A of our Annual Report on Form 10 - K for the year ended July 31 , 2022 . We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward - looking statements contained in this presentation or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law . 2 THIRD QUARTER FISCAL 2023 HIGHLIGHTS 3 Disciplined Production, Variable Cost Model and Strong Performance of the European Segment Underpin Solid Third Quarter Results Net sales of $2.9 billion in 3Q23, down from a fiscal third quarter record of $4.7 billion in the prior - year period ▪ Prudently managed North American wholesale production levels given cautious ordering patterns by our independent dealers amid an uncertain market environment ▪ Proactively assisted our North American independent dealers in destocking approximately 8,300 units from channel inventory and reducing a substantial number of prior - model - year units Diluted EPS of $2.24 ▪ THOR achieved gross profit margin of 14.8% despite a 45% reduction in unit shipments versus the prior - year period ▪ Leveraged variable cost model in North America to temporarily rightsize cost structure with current market conditions ▪ Delivered strong performance in our European segment through favorable price - cost realization, operational efficiencies and improved chassis supply Generated $288.8 million of net cash flow from operations in 3Q23 ▪ Company paid down $90.0 million on its U.S. Term Loan B and $35.0 million on the ABL as well as repurchased $16.6 million of its common stock during 3Q23 ▪ S ubsequent to the end of the fiscal third quarter, the Company p aid down an additional $85.0 million on its U.S. Term Loan B and made principal payments totaling $50.0 million to fully pay off the outstanding balance on its ABL

$857.9 $7,429.7 $6,899.7 $757.1 $513.7 $896.0 $548.0 $3,550.3 $4,100.0 $1,263.1 $803.5 $3,344.0 $2,878.1 $3,474.3 NA Towables NA Motorized European (3) Includes Tiffin backlog subsequent to the December 2020 acquisition of the Tiffin Group 04/30/19 04/30/20 04/30/21 04/30/22 04/30/23 European $0.87 bn 29.6% NA Motorized $0.80 bn 27.2% NA Towables $1.12 bn 38.4% Other $0.14 bn 4.8% 132,500 105,900 75,000 135,500 113,000 NORTH AMERICAN INDEPENDENT DEALER INVENTORY OF THOR PRODUCTS RV BACKLOG OF $5.49 BILLION (60.4)% Inventory Units (2) Includes units of Tiffin products subsequent to the December 2020 acquisition of the Tiffin Group (2) 4/30/23 (1) As compared to the third quarter of fiscal year 2022 THIRD QUARTER OF FISCAL YEAR 2023 Gross Margin 14.8% - 250 bps (1) Diluted EPS $2.24 (64.6)% (1) Net Sales $2.9 billion (37.1)% (1) (2) (3) (3) 4/30/19 4/30/20 4/30/21 (2) 4/30/22 Unit Shipments 51,512 (44.9)% (1) 4 (3) Net Sales ($ millions) $2,640.1 $1,124.4 3QFY22 3QFY23 17.2% 12.8% 3QFY22 3QFY23 NET SALES  Decreased 57 . 4 % * driven by a 57 . 3 % decrease in unit shipments due to a softening in current dealer and consumer demand in comparison with the unusually strong third quarter demand in the prior - year quarter, which included independent dealers restocking their lot inventory levels GROSS PROFIT MARGIN  Decreased 440 basis points* driven primarily by higher manufacturing overhead, warranty and direct labor percentages, partially offset by a decrease in the material cost percentage due to the combined favorable impacts of product mix changes, net selling price increases and cost savings initiatives exceeding the impact of increased sales discounts *in the third quarter of fiscal 2023 compared to the prior - year period NORTH AMERICAN TOWABLE SEGMENT Third Quarter of Fiscal 2023 NORTH AMERICAN TOWABLE KEY DRIVERS • Disciplined wholesale production to align to retail demand contributed to a destocking of channel inventory in 3Q23 • CY ‘23 travel trailer and fifth wheel market share of 42.2% (+150 bps y/y) • Order backlog of $757 million 5 NET SALES  Decreased 24 . 4 % * driven primarily by a 21 . 2 % decrease in unit shipments and a 3 . 2 % decrease in the overall net price per unit primarily due to changes in product mix ($ millions) $1,053.0 $795.9 3QFY22 3QFY23 16.5% 11.7% 3QFY22 3QFY23 GROSS PROFIT MARGIN  Decreased 480 basis points* driven primarily by an increase in sales discounts, higher warranty costs and an increase in manufacturing overhead costs as a percentage of sales due to the reduction in sales *in the third quarter of fiscal 2023 compared to the prior - year period Third Quarter of Fiscal 2023 NORTH AMERICAN MOTORIZED KEY DRIVERS • Disciplined wholesale production to align to retail demand contributed to a destocking of channel inventory in 3Q23 • CY ‘23 market share of market share of 47.7% ( - 290 bps y/y) • Order backlog of $1.3 billion 6 NORTH AMERICAN MOTORIZED SEGMENT

EUROPEAN KEY DRIVERS • Unfavorable foreign exchange impact of 2.7% on net sales compared to prior - year period • Strong order backlog of $3.5 billion • Independent dealer inventory levels of motorized products generally remain below historical levels NET SALES  Increased 19 . 7 % * driven by a 22 . 2 % increase in the overall net price per unit due to the total combined impact of changes in product mix and price, partially offset by a 2 .

5 % decrease in unit shipments GROSS PROFIT MARGIN  Increased by 370 basis points* due to net selling price increases, product mix changes and a reduction in the labor cost percentage ($ millions) $724.0 $866.8 3QFY22 3QFY23 13.8% 17.5% 3QFY22 3QFY23 *in the third quarter of fiscal 2023 compared to the prior - year period EUROPEAN SEGMENT Third Quarter of Fiscal 2023 7 8 TOTAL LONG - TERM DEBT / TTM EBITDA (3) 1.6x TOTAL LONG - TERM DEBT / TTM ADJUSTED EBITDA (3) 1.4x STRONG FINANCIAL POSITION ($ millions) $339.5 $637.5 $288.8 $474.1 3QFY23 FY23 YTD OPERATING CASH FLOW TOTAL LONG - TERM DEBT (1) ($ millions) LIQUIDITY (2) ($ millions) SELECTED FINANCIAL RATIOS (2) TLB $1,056.2 Unsecured Notes $500.0 ABL $50.0 Other $72.9 Total Long - Term Debt $1,679.1 Cash equivalents $353.2 Available credit under ABL $950.0 Total Liquidity $1,303.2 $150.5 3QFY22 FY22 YTD Capital Expenditures ($ millions) $52.9 $170.7 $49.5 * Subsequent to 4 / 30 / 23 , the Company further p aid down $ 85 . 0 million on Term Loan and $ 50 .

0 million to fully pay off balance on ABL (1) Total debt obligations as of April 30, 2023 inclusive of the current portion of long - term debt (2) As of April 30, 2023 (3) See the Appendix to this presentation for reconciliation of non - GAAP measures to most directly comparable GAAP financial measures CAPITAL MANAGEMENT PRIORITIES AND FISCAL YEAR 2023 ACTIONS Invest in THOR’s business ▪ Capex spending of $150.5 million YTD Pay THOR's dividend ▪ Increased regular quarterly dividend to $0.45 in October 2022 ▪ Represents 13th consecutive year of dividend Reduce the Company's debt obligations ▪ YTD reduced debt with principal payments of $102.4 million on our Term Loan and paydown of $50.0 million on the ABL ▪ Subsequent to 4/30/23, further p aid down $85.0 million on Term Loan and $50.0 million to fully pay off balance on ABL Repurchase shares on a strategic and opportunistic basis ▪ Repurchased $42.0 million YTD ▪ $491.2 million available to be repurchased as of April 30, 2023 under current authorizations Support opportunistic strategic investments 9 FULL - YEAR FISCAL 2023 GUIDANCE KEY ASSUMPTIONS ▪ Full - year fiscal 2023 guidance was updated to reflect the strong underlying performance of the Company’s fiscal third quarter results as well as the Company’s cautious 4 Q 23 outlook given ongoing volatility and macro uncertainty ▪ Prudent and disciplined operating approach to result in reduced 4 Q 23 production volumes, compared to 3 Q 23 , in North America, resulting in : • Destocking of channel inventory levels • Rebalancing of channel inventory mix ▪ Favorable market dynamics expected to continue in Europe • Relative strength in consumer demand when compared to North America • Restocking cycle to extend through balance of fiscal 2023 ▪ Other Modeling Assumptions: • Amortization of intangibles expense: $140.6 million for full - year fiscal 2023 • Tax rate: between 22% and 24% (1) • Full - year fiscal 2023 capital expenditures: $200 - $210 million $ 10.5 – $ 11.0 B NET SALES (previously $10.5 - $11.5B) 13.8 % – 14.2 % GROSS PROFIT MARGIN (previously 13.4% - 14.2%) $ 5.80 – $ 6.50 DILUTED EARNINGS PER SHARE (previously $5.50 - $6.50) (1) Before consideration of any discrete tax items 10

KEY TAKEAWAYS Strong performance in our European segment through efforts of our management team, favorable price - cost realization, operational efficiencies and moderate improvements in chassis supply Disciplined production, operating flexibility and employment of variable cost model in our fiscal third quarter positions our North American operating companies and independent dealer partners favorably entering the upcoming model year changeover Updated full - year 2023 outlook reflects our strong fiscal third - quarter performance and a disciplined and prudent operating approach that maximizes profitability across the business cycle Strong cash generation enabled us to aggressively pay down debt despite a soft macro environment THOR Remains Well Positioned to Navigate the Dynamic and Challenging Macro Environment 11 THOR OVERVIEW The Global RV Industry Leader WHO WE ARE • Experienced growth - oriented team • Leading brands • Cash generation focus • Customer - centric innovation • 42 years of uninterrupted profitability FOUNDED IN 1980 ~32,000 EMPLOYEES (1) >400 WORLDWIDE FACILITIES (1) ~3,500 INDEPENDENT DEALERSHIP LOCATIONS (1) NET SALES BY SEGMENT (1) NET SALES BY COUNTRY (1) $ 16.3 B FY22 NET SALES Other 4.8% (1) As of July 31, 2022 United States 75.0% Germany 10.6% Other Europe 7.1% Canada 6.9% Other 0.3% North American Towables 53.1% North American Motorized 24.4% European 17.7% 13

APPENDIX 12

THOR’S PRODUCT LEADERSHIP ( 1 ) As of calendar YTD March 31 , 2023 . Data reported by Statistical Surveys, Inc is based on official state and provincial records . This information is subject to adjustment, is continuously updated and is often impacted by delays in reporting by various states or provinces . EHG data is sourced from industry retail registrations statistics that have been compiled from individual countries reporting of retail sales .

E U R O P E A N All RV Segments N O R T H A M E R I C A N CATEGORY Class B Class C Class A Fifth Wheels Travel Trailers 19.4% 38.6% 52.6% 49.9% 43.7% 41.8% MARKET SHARE (1) #2 #1 #1 #1 #1 #1 MARKET POSITION (1) 14 120.8 121.1 156.5 176.5 201.3 194.3 192.2 199.5 229.1 249.7 239.1 207.6 250.6 258.9 298.3 323.0 334.5 298.1 208.6 217.1 227.6 152.4 257.6 282.8 312.8 326.9 442.0 376.0 426.1 359.4 389.6 544.0 434.9 249.3 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2003 2004 2005 2001 2002 1996 1997 1998 1999 2000 1993 1994 1995 1990 1991 1992 (e) 173.1 163.1 203.4 227.8 259.5 247.2 247.5 254.6 292.7 321.2 300.1 256.8 311.0 320.9 370.0 384.5 390.4 353.5 237.0 165.6 242.3 252.4 285.7 321.1 356.7 430.7 374.2 504.6 483.7 406.1 430.4 600.2 493.3 297.1 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2000 2001 2002 1996 1997 1998 1999 1993 1994 1995 1990 1991 1992 (e) TOWABLE RV WHOLESALE MARKET TRENDS (UNITS 000's) YTD Shipments (Units) Mar. 2023 78,600 Mar. 2022 171,466 Unit Change (92,866) % Change (54.2)% YTD Shipments (Units) Mar. 2023 65,208 Mar. 2022 155,687 Unit Change (90,479) % Change (58.1)% 52.3 41.9 46.9 51.3 58.2 52.8 55.3 55.1 63.5 71.5 61.0 49.2 60.4 62.0 71.7 61.4 55.8 55.4 28.4 13.2 25.2 24.8 28.2 38.3 44.0 47.3 54.7 62.6 57.6 46.6 40.8 56.2 58.4 47.8 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 (e) YTD Shipments (Units) % Change Unit Change Mar. 2022 Mar.

2023 (15.1)% (2,387) 15,779 13,392 Historical Data: Recreation Vehicle Industry Association (RVIA) RV INDUSTRY OVERVIEW North America RV WHOLESALE MARKET TRENDS (UNITS 000's) MOTORIZED RV WHOLESALE MARKET TRENDS (UNITS 000's) (e) Calendar year 2023 represents the most recent RVIA "most likely" estimate from their June 2023 issue of Roadsigns 15 % Change Total CYTD March 31, 2023 2022 % Change Motorcaravans CYTD March 31, 2023 2022 % Change Caravans CYTD March 31, 2023 2022 Country 3.1 % 23,061 23,770 5.7 % 17,485 18,479 (5.1)% 5,576 5,291 Germany (11.1)% 8,897 7,911 (10.2)% 6,440 5,780 (13.3)% 2,457 2,131 France (7.2)% 6,929 6,427 9.4 % 2,930 3,204 (19.4)% 3,999 3,223 U.K. (6.4)% 2,244 2,100 (1.5)% 602 593 (8.2)% 1,642 1,507 Netherlands (27.7)% 2,668 1,930 (28.5)% 2,204 1,575 (23.5)% 464 355 Switzerland (35.2)% 1,084 702 (30.4)% 602 419 (41.3)% 482 283 Sweden (15.1)% 2,218 1,882 (17.2)% 2,014 1,668 4.9 % 204 214 Italy (4.9)% 2,131 2,026 (0.1)% 1,755 1,754 (27.7)% 376 272 Belgium (13.9)% 1,986 1,710 (10.9)% 1,558 1,388 (24.8)% 428 322 Spain (20.6)% 5,518 4,383 (22.3)% 3,580 2,780 (17.3)% 1,938 1,603 All Others (6.9)% 56,736 52,841 (3.9)% 39,170 37,640 (13.5)% 17,566 15,201 Total The Company monitors retail trends in the European RV market as reported by the European Caravan Federation, whose industry data is reported to the public quarterly Industry wholesale shipment data for the European RV market is not available 201 192 146 138 135 140 143 152 162 166 174 182 198 203 210 208 189 154 150 156 147 137 140 152 168 190 202 211 236 261 218 144 141 170 162 151 182 217 222 219 220 253 272 274 251 274 292 324 320 310 366 289 206 228 247 264 304 333 376 416 471 493 465 522 570 444 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Europe North America (1) Source : European Caravan Federation; Calendar Years, 2023 and 2022; European retail registration data available at www.CIVD.de FULL - YEAR COMPARISON OF NEW VEHICLE REGISTRATIONS BY CONTINENT (UNITS 000's) (1) (2) RV INDUSTRY OVERVIEW Europe EUROPEAN INDUSTRY UNIT REGISTRATIONS BY COUNTRY (1) (2) Source : Statistical Surveys (www.statisticalsurveys.com) 16 17 Repurchase intentions indicate “stickiness” of RV lifestyle Consumer satisfaction among RV owners is very strong RV utilization remains high Interest in the RV lifestyle continues to exceed pre - pandemic levels ~47 % CONSUMER TRENDS SUPPORT LONG - TERM RV INDUSTRY GROWTH Supported by Real Data from RVers >90 % of current travel 67 % trailer owners intend to repurchase a new RV in the next 2 years (2) (1) SimilarWeb (2) 2022 THOR North American Travel Trailer Study (3) 2022 THOR North American Fifth Wheel Study (4) 2022 THOR North American Lightweight Travel Trailer Study ~80 % of current towable owners report they use their unit once a month or more often (2) (3) (4) increase in RV dealer website traffic when comparing 3QFY23 to 3QFY19 (1) of RV owners report satisfaction with their units (2) (3) (4)

18 QUARTERLY EBITDA RECONCILIATION ($ in thousands) TTM Fiscal Quarters TTM $ 564,745 3QFY23 $ 119,729 2QFY23 $ 25,806 1QFY23 $ 137,423 4QFY22 $ 281,787 3QFY22 $ 346,018 Net Income Add Back: 97,378 26,362 25,633 22,807 22,576 22,289 Interest Expense, Net 141,057 35,722 6,912 41,848 56,575 116,389 Income Taxes 274,785 68,151 67,682 66,993 71,959 71,646 Depreciation and Amortization $1,077,965 $249,964 $126,033 $269,071 $432,897 $556,342 EBITDA Add Back: 35,292 9,672 8,543 8,392 8,685 Stock - Based Compensation Expense 9,750 48,512 6,500 7,800 5,500 28,712 Change in LIFO Reserve 21,000 1,744 (1,006) (1,200) (1,900) 5,850 Net (Income) Expense Related to Certain Contingent Liabilities (2,875) (718) (295) (5,760) (836) 6,173 Non - Cash Foreign Currency Loss (Gain) (6,770) 7,419 2,682 1,693 3,044 — Market Value Loss (Gain) on Equity Investments — 4,688 4,688 — — — Equity Method Investment Loss (Gain) — (14,389) — (4,997) — (9,392) Other Loss (Gain), Including Sales of Property, Plant and Equipment — $1,160,513 $272,205 $132,112 $283,271 $472,925 $577,447 Adjusted EBITDA $12,205,305 $2,928,820 $2,346,635 $3,108,084 $3,821,766 $4,657,517 Net Sales 9.5 % 9.3 % 5.6 % 9.1 % 12.4 % 12.4 % Adjusted EBITDA Margin (%) Total Long - Term Debt as of April 30, 2023 (1) $1,679,128 Total Long - Term Debt / TTM EBITDA Total Long - Term Debt / TTM Adjusted EBITDA (1) Total debt obligations as of April 30, 2023 inclusive of the current portion of long - term debt Adjusted EBITDA is a non - GAAP performance measure included to illustrate and improve comparability of the Company's results from period to period. Adjusted EBITDA is defined as net income before net interest expense, income tax expense and depreciation and amortization adjusted for certain items and other one - time items. The Company considers this non - GAAP measure in evaluating and managing the Company's operations and believes that discussion of results adjusted for these items is meaningful to investors because it provides a useful analysis of ongoing underlying operating trends. The adjusted measures are not in accordance with, nor are they a substitute for, GAAP measures, and they may not be comparable to similarly titled measures used by other companies. 1.6 x 1.4 x www.thorindustries.com INVESTOR RELATIONS CONTACT Michael Cieslak, CFA mcieslak@thorindustries.com (574) 294 - 7724

EXHIBIT 99.3

THIRD QUARTER FISCAL 2023

INVESTOR QUESTIONS & ANSWERS

June 6, 2023

Forward-Looking Statements

Reference is made to the forward-looking statements disclosure provided at the end of this document.

Executive Overview

Quick Reference to Contents

Current Market Conditions and Outlook Assumptions

The RV industry’s early calendar 2023 retail sales have been impacted by the current macroeconomic conditions faced by consumers and dealers, including higher inflation and interest rates. While near-term North American industry retail demand has significantly softened from the record calendar 2021 level and strong 2022 levels, we anticipate the recent softness in demand to be temporary as interest in the RV lifestyle continues to grow. To be clear, we acknowledge that the temporary nature of the softness is directly tied to strong headwinds faced by consumers from the current macro environment and expect that the softness will persist until those forces begin to ease up on the consumer. The Recreational Vehicle Industry Association (“RVIA”) recently updated their wholesale unit shipments forecast for calendar year 2023 to reflect the current shift in market demand trends. The RVIA forecast now estimates total North American wholesale shipments in calendar year 2023 to be between 287,200 and 307,000 units, down from the record unit shipments in calendar year 2021 of 600,240 and unit shipments in calendar 2022 of 493,268.

Similar to North America, European retail sales have been impacted by current macroeconomic conditions. However, we have seen relative strength in consumer demand when compared to North America. According to the European Caravan Foundation (“ECF”), total retail registrations in Europe for the first quarter of calendar year 2023 decreased 6.9% compared to the same period of calendar 2022. Due to chassis constraints, independent RV dealer inventory levels of our motorized European RV products are generally below pre-pandemic levels in the various countries we serve, including within Germany, which accounts for approximately 60% of our European product sales.

Consolidated RV backlog was $5.5 billion as of April 30, 2023. North American RV backlog was $2.0 billion as of April 30, 2023, a decrease of 81.6% compared to $11.0 billion as of April 30, 2022. European RV backlog was $3.5 billion as of April 30, 2023, an increase of 20.7% compared to $2.9 billion as of April 30, 2022.

The industry has experienced a significant slowdown in retail activity as consumers have been adversely impacted by elevated prices, higher interest rates, and inflation. However, high RV utilization, strong show attendance and high repeat buyer intentions in the face of a decreasing appetite to purchase in the short-term exhibits the resilience of consumer interest in the RV lifestyle. While we remain cautious and continue to expect near-term demand to be materially impacted by the current macroeconomic conditions, particularly in North America, our long-term optimism remains undeterred. Our positive long-term outlook is supported by favorable demographics, strong interest in the RV lifestyle and a favorable perception of RVing as promoting a safe and healthy lifestyle. Numerous studies conducted by THOR, RVIA and others show that people of all generations love the freedom of the outdoors and that RVers are extremely satisfied with their RV experience. The growth in industry-wide RV sales in recent years has also resulted in exposing a much wider range of consumers to the lifestyle. We believe many of those who have been recently exposed to the industry for the first time will become future owners, and that those who became first-time owners due to the pandemic will become long-term RVers - resulting in future trade-in sales opportunities. In addition, we view the significant investments by independent dealers, campground owners and various governmental agencies into camping and RV facilities to be positive long-term factors, which should only further enhance the experience of current RVers and encourage new buyers to enter the lifestyle.

Q&A

MARKET UPDATE

While near-term demand will continue to be influenced by macroeconomic conditions, we believe that the recent softening in demand will be temporary, and in the longer term, we remain strongly optimistic about both the industry’s and THOR’s future growth. Based upon recent THOR and industry studies, we continue to believe that future retail demand will exceed historical, pre-pandemic levels. This longer-term optimism is supported by data that indicates interest in the RV lifestyle continues to exceed pre-pandemic levels, RV utilization remains high, consumer satisfaction among RV owners is very strong, and repeat buyer intentions reaffirm the “stickiness” of the RV lifestyle. The strength of the consumer’s interest in the lifestyle has also been demonstrated by strong show attendance across North America despite the macro pressure on consumers. Given these facts, we believe that retail demand should rebound once current macroeconomic risks subside.

OPERATIONS UPDATE

Furthermore, as of June 1st, we estimate that North American model year 2022 units comprised approximately 25% of total field inventory of THOR products. Looking ahead, we expect this percentage to drop below 10% by the end of our fiscal fourth quarter. Overall, we remain confident in our ability to assist dealers in optimizing the mix and levels of field inventory and believe our disciplined approach to production positions us to perform well entering our fiscal 2024.

Within our European segment, despite restocking progress made in the fiscal third quarter, independent dealer inventory generally remains below optimal levels for motorized units. As chassis supply constraints continue to ease, we expect to complete the restocking cycle in the first half of fiscal 2024.

As a result of our operating teams’ and independent dealer partners’ prudent inventory management approach, we have incrementally reduced our planned wholesale shipment volumes for calendar 2023. This is aligned with the RVIA’s June forecast, which was revised lower and now projects total North American wholesale shipments in calendar year 2023 to range between 287,200 and 307,000 units with a most likely total of approximately 297,100 units. We are also in agreement with the RVIA that the industry will return to growth in calendar 2024, although we note that level of growth experienced will ultimately depend on the timing of easing macroeconomic pressures.

Looking ahead, as chassis and other supply constraints continue to ease, we expect to complete the restocking cycle for motorized products in the first half of fiscal 2024. Germany recently reported that it is in a technical recession, and we will monitor the macro environment closely and adjust production accordingly. However, despite the short term macroeconomic challenges, we continue to hold strong optimism for our long-term performance in Europe. Our European segment backlog value of approximately $3.5 billion as of April 30, 2023 remains strong and indicative of the strong interest in the RV lifestyle. In addition, we continue to execute against operational initiatives to help enhance our long-term profitability. In April, we commenced our initial commercial operations at our Nowa Sól, Poland manufacturing facility. While not currently material to our current or fiscal 2023 operating results, we plan to gradually introduce new brands and scale production through fiscal 2026 in order to expand the reach of our product offering in Europe and realize margin enhancing benefits.

FINANCIAL UPDATE

In addition, we continue to take steps to address incremental costs through a combination of product decontenting/recontenting, material sourcing strategies and the introduction of new, value-enhancing product offerings across the THOR family of operating companies. As such, we do expect a return to more historical towable gross margin levels.

The updated full-year guidance reflects the strong underlying performance of our fiscal third quarter results as well as our continued cautious outlook for our fourth quarter of fiscal 2023 given the ongoing volatility and macroeconomic uncertainty impacting consumer demand. We remain focused on running the business in a disciplined manner that maximizes profitability across our business cycle. As a result, we reduced the top end of our previous full-year consolidated net sales range to reflect a reduction in planned production volumes, largely for towable products. We continue to target production levels lower than demand levels in the near term to assist independent dealers in driving channel inventory to lean levels ahead of the towable model year changeover. Given the current interest rate environment and softer demand environment, we believe a prudent and disciplined production approach is appropriate as we close out fiscal 2023.

Despite narrowing the consolidated net sales range to the lower end of the previous range, the Company raised the low end of its previous full-year fiscal 2023 gross profit margin and diluted earnings per share guidance ranges, reflecting our strong third-quarter results. In addition to the strong contribution from our European segment, our North American operating teams successfully worked with our independent dealers to reduce channel inventory, rightsized our product offerings based on current demand trends and continued to leverage our variable cost model in an effort to achieve solid margins relative to broader market conditions.

Looking ahead to the fiscal fourth quarter, given our expected reduction in North American production, we do expect to experience incremental margin pressure compared to our fiscal third quarter due to a loss of operating leverage on lower unit production and shipment volumes. Furthermore, given our targeted commercial actions to optimize channel inventory of towable products with our independent dealer partners, we are mindful that an elevated level of incentives and promotional activity may be necessary to assist our independent dealers in moving previous model year product through the channel. We expect to enter our fiscal 2024 with right-sized channel inventory to position the Company for improved financial performance in fiscal 2024.

Additionally, we continue to maintain a strong balance sheet. We ended our fiscal third quarter with a total liquidity of $1.3 billion, including cash and cash equivalents totaling $353.2 million and approximately $950.0 million of availability under our ABL. Our solid cash generation in the third quarter allowed the Company to pay down $90.0 million on our Term Loan B and $35.0 million on our ABL as well as repurchase 210,799 shares of our common stock at a weighted-average price of $78.75 for an aggregate purchase price of approximately $16.6 million. Subsequent to the end of the fiscal third quarter, we paid down an additional $85.0 million on our Term Loan B and made principal payments totaling $50.0 million to fully pay off the outstanding balance on our ABL, further solidifying an already strong balance sheet amid a soft macroeconomic environment. Looking ahead, we remain committed to maintaining a strong balance sheet and leveraging our strong cash flow to drive enhanced shareholder value.

Consistent with our historical approach, we expect to be disciplined, flexible and balanced in how we deploy capital. We will continue to focus on reinvesting in our businesses, paying our dividend, reducing our debt obligations and repurchasing THOR stock on an opportunistic basis while making selective tuck-in acquisitions or strategic investments in innovation. The Company operated in-line with its stated capital allocation strategy in the fiscal third quarter and subsequent to quarter end, prioritizing paying down debt amid a challenging market and high interest rate environment. Executing on our share repurchase program also remains a high priority for our management team and we expect to see additional share repurchases in the fourth quarter of fiscal 2023.

Summary of Key Quarterly Segment Data – North American Towable RVs

Dollars are in thousands

(1) Source: Statistical Surveys, Inc. CYTD March 31, 2023 and 2022.

Note: Data reported by Stat Surveys is based on official state and provincial records. This information is subject to adjustment, is continuously updated, and is often impacted by delays in reporting by various states or provinces.

Summary of Key Quarterly Segment Data – North American Motorized RVs

Dollars are in thousands

(1) Source: Statistical Surveys, Inc. CYTD March 31, 2023 and 2022.

Note: Data reported by Stat Surveys is based on official state and provincial records. This information is subject to adjustment, is continuously updated and is often impacted by delays in reporting by various states or provinces.

Summary of Key Quarterly Segment Data – European RVs

Dollars are in thousands

(1) Sources: Caravaning Industry Association e.V. (“CIVD”) and European Caravan Federation (“ECF”), Calendar year to date March 31, 2023 and 2022. Data from the ECF is subject to adjustment, continuously updated and is often impacted by delays in reporting by various countries (some countries, including the United Kingdom, do not report OEM-specific data and are thus excluded from the market share calculation).

(2) The CIVD and ECF report motorcaravans and campervans together.

Note: Industry wholesale shipment data for the European RV market is not available.

Forward-Looking Statements

This release includes certain statements that are “forward-looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made based on management’s current expectations and beliefs regarding future and anticipated developments and their effects upon THOR, and inherently involve uncertainties and risks. These forward-looking statements are not a guarantee of future performance. We cannot assure you that actual results will not differ materially from our expectations. Factors which could cause materially different results include, among others: the impact of inflation on the cost of our products as well as on general consumer demand; the effect of raw material and commodity price fluctuations, and/or raw material, commodity or chassis supply constraints; the impact of war, military conflict, terrorism and/or cyber-attacks, including state-sponsored or ransom attacks; the impact of sudden or significant adverse changes in the cost and/or availability of energy or fuel, including those caused by geopolitical events, on our costs of operation, on raw material prices, on our suppliers, on our independent dealers or on retail customers; the dependence on a small group of suppliers for certain components used in production, including chassis; interest rate fluctuations and their potential impact on the general economy and, specifically, on our profitability and on our independent dealers and consumers; the ability to ramp production up or down quickly in response to rapid changes in demand while also managing costs and market share; the level and magnitude of warranty and recall claims incurred; the ability of our suppliers to financially support any defects in their products; legislative, regulatory and tax law and/or policy developments including their potential impact on our independent dealers, retail customers or on our suppliers; the costs of compliance with governmental regulation; the impact of an adverse outcome or conclusion related to current or future litigation or regulatory investigations; public perception of and the costs related to environmental, social and governance matters; legal and compliance issues including those that may arise in conjunction with recently completed transactions; lower consumer confidence and the level of discretionary consumer spending; the impact of exchange rate fluctuations; restrictive lending practices which could negatively impact our independent dealers and/or retail consumers; management changes; the success of new and existing products and services; the ability to maintain strong brands and develop innovative products that meet consumer demands; the ability to efficiently utilize existing production facilities; changes in consumer preferences; the risks associated with acquisitions, including: the pace and successful closing of an acquisition, the integration and financial impact thereof, the level of achievement of anticipated operating synergies from acquisitions, the potential for unknown or understated liabilities related to acquisitions, the potential loss of existing customers of acquisitions and our ability to retain key management personnel of acquired companies; a shortage of necessary personnel for production and increasing labor costs and related employee benefits to attract and retain production personnel in times of high demand; the loss or reduction of sales to key independent dealers; disruption of the delivery of units to independent dealers or the disruption of delivery of raw materials, including chassis, to our facilities; increasing costs for freight and transportation; the ability to protect our information technology systems from data breaches, cyber-attacks and/or network disruptions; asset impairment charges; competition; the impact of losses under repurchase agreements; the impact of the strength of the U.S. dollar on international demand for products priced in U.S. dollars; general economic, market and political conditions in the various countries in which our products are produced and/or sold; the impact of changing emissions and other related climate change regulations in the various jurisdictions in which our products are produced, used and/or sold; changes to our investment and capital allocation strategies or other facets of our strategic plan; and changes in market liquidity conditions, credit ratings and other factors that may impact our access to future funding and the cost of debt.

These and other risks and uncertainties are discussed more fully in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2023 and in Item 1A of our Annual Report on Form 10-K for the year ended July 31, 2022.

We disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release or to reflect any change in our expectations after the date hereof or any change in events, conditions or circumstances on which any statement is based, except as required by law.

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