Thor Industries Q3 Earnings Smashes Estimates

Thor Industries Inc 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.