THO - Thor Industries stock climbs on FQ2 earnings beats

Thor Industries (NYSE:THO) shares have climbed 6.28% pre-market after the company reported record financial results for its second fiscal quarter ended Jan. 31, 2022. The recreational vehicle (RV) maker generated consolidated net sales of $3.88B (+42.1% Y/Y), exceeding estimates by $350M. The growth was driven by continued demand for RVs and contribution of recent acquisitions.  Consolidated gross profit margin improved 220 basis point over the comparable prior-year period to 17.4%. As of Jan. 31, 2022, consolidated RV backlog was $17.73B, up over 60% Y/Y. At the same time, order backlog declined sequentially from fiscal first quarter and dealer inventory levels improved. Net income totaled $266.6M, or $4.79 per diluted share, compared with $132.5M, or $2.38 per diluted share, in the prior-year period. SVP and COO Todd Woelfer stated, "Calendar year 2022 started strong for THOR as we grew our market share position in every category in which we participate. Our products

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Thor Industries stock climbs on FQ2 earnings beats