- Thor Industries Inc (NYSE: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.
