Thor Industries Q3 Earnings Smashes Estimates

  • Thor Industries Inc THO reported third-quarter FY22 sales growth of 34.6% year-on-year to $4.66 billion, beating the consensus of $4.18 billion.
  • The company attributed the sales growth to the increase in the average sales price of units and the increase in units sold.
  • Net sales from the North American Towable RVs rose 53% Y/Y, North American motorized RVs climbed 35.8%, and the European RVs decreased 19%.
  • EPS of $6.32 beat the analyst consensus of $4.72.
  • The gross profit margin increased 270 basis points Y/Y to 17.3%. Selling, general and administrative expenses rose 21.5% Y/Y to $281.6 million.
  • As of April 30, 2022, the consolidated RV backlog was $13.88 billion.
  • The company held $331.9 million in cash and equivalents as of April 30, 2022.
  • Price Action: THO shares traded higher by 4.95% at $80.00 in premarket on the last check Wednesday.

Posted In: BriefsEarningsNews

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