Thor Industries Stock Gains On Q2 Earnings Beat

Thor Industries Inc THO reported second-quarter FY22 sales growth of 42.1% year-on-year, to $3.88 billion, beating the consensus of $3.57 billion.
The company attributed the sales increase to the continuing demand for RVs and recent acquisitions.
Net sales from the North American Towable RVs rose 44.6% Y/Y, North American Motorized RVs climbed 69.3%, and the European RVs decreased 1.3%.
EPS of $4.79 beat the analyst consensus of $3.39.
The gross profit margin expanded 220 basis points Y/Y to 17.4%. Selling, general and administrative expenses rose 29.7% Y/Y to $267.5 million.
The company held $330.3 million in cash and equivalents as of January 31, 2022. The long-term debt of Thor amounted to $2.2 billion.
Consolidated RV backlog as of January 31, 2022, was $17.73 billion, up over 60% compared to RV backlog as of January 31, 2021.
"We remain very optimistic about the growth of the RV industry for 2022 and in the long term," said COO Todd Woelfer.
Price Action: THO shares traded higher by 6.05% at $89.80 in premarket on the last check Wednesday.