THO - Thor Industries shares accelerate on big earnings beat

Thor Industries (NYSE:THO) carried substantially higher on Wednesday after crushing earnings expectations. The Indiana-based RV manufacturer reported $6.32 in earnings per share for the fiscal third quarter, an impressive $1.58 above analyst expectations. A 34.7% increase in net sales from 2021 to total $4.66B likewise moved well past estimates, coming in $480M above the bar set by Wall Street. Despite supply chain and inflation headwinds, gross margins improved by 270 points as well. “I am pleased to report this quarter that THOR once again managed through an uncertain business environment to achieve record net sales and profitability across many of our brands,” CEO Bob Martin said. “At the end of our fiscal third quarter, due to the outstanding production efforts of our team members, our independent dealer inventories of towable RV products were at more historically normal levels. He added that high demand continues to outpace supply as “persistent global

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Thor Industries shares accelerate on big earnings beat