THO - Thor Industries powers higher after posting strong quarter

Thor Industries (NYSE:THO) rallied after the company posted a strong FQ2 earnings report headlined by 42% revenue growth. Consolidated RV wholesale shipments were up by 14.5% during the quarter and consolidated RV backlog increased by more than 60% compared to a year ago. Order backlog declined sequentially from FQ1 and dealer inventory levels were noted to be improving. The company said it is working hard to deliver enough units to continue to reduce order backlog. CEO update: "Our results show the strong appeal of our products, the continued strong demand in our industry and the outstanding performance by our team members. In addition to our second-quarter record top line, we reported consolidated gross profit margin of 17.4%. Our increased margins were driven by the increase in net sales, improved quality and operating efficiencies, a reduction in sales discounts compared to the prior-year period and certain selling price increases put in

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Thor Industries powers higher after posting strong quarter