Thor Industries Stock Gains As Q1 Earnings Top Estimates

Thor Industries Inc THO reported first-quarter FY22 sales growth of 56% year-on-year, to $3.96 billion, beating the analyst consensus of $3.46 billion.
The company attributed the sales increase to the continuing demand for RVs and recent acquisitions.
Net sales from the North American Towable RVs rose 61% Y/Y, North American motorized RVs climbed 87.3%, and the European RVs increased 5.1%.
EPS of $4.34 beat the analyst consensus of $3.24.
The gross profit margin increased 170 basis points Y/Y to 16.6%. Selling, general and administrative expenses rose 62.8% Y/Y to $295.9 million.
The company held $339.3 million in cash and equivalents as of October 31, 2021. The long-term debt of Thor amounted to $2.2 billion.
"As we look ahead, we expect continued supply chain constraints, logistical challenges and cost pressures. However, as we have consistently demonstrated, we also expect to continue to excel at our top and bottom lines," said President and CEO Bob Martin.
Price Action: THO shares traded higher by 4.31% at $110.98 in premarket on the last check Wednesday.

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