THO - Thor's acquisitions supply chain execution lead to double beat

Thor Industries (THO +0.6%) after reporting an earnings beat and 55.5% revenue growth driven by higher sales in North America following recent acquisitions. By segment: North American Towable RV segment (+61%); North American Motorized RV segment (+87%); European RV segment (+5%). The addition of Tiffin Group accounted for 47% of the increase in increase in North American Motorized RV net sales. Consolidated gross profit margin increased 170 bps to 16.6% primarily driven by the increase in net sales, a reduction in sales discounts since the prior-year period and selective net selling price increases. "It seems the market focuses on the supply chain and labor challenges that our industry is facing right now more than it does our performance in the face of those challenges, but our performance has been consistent despite those challenges," commented CEO Bob Martin. The company's 88,100 RV deliveries outpaced the RV industry's growth rate of shipments. Global order backlog increased

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Thor's acquisitions, supply chain execution lead to double beat