Sales and profit show strong growth at Thor Industries

American RV and leisure vehicle giant Thor Industries – which owns brands including Airstream, the Erwin Hymer Group and Jayco – has reported strong growth in its net sales, gross profit and earnings per share for the first quarter of its 2021 fiscal year.

The company revealed that net sales for the first quarter were US$2.54 billion, an increase of 17.5 per cent, whereas consolidated gross profit margin was 14.9 per cent, a 60 basis point improvement over the prior-year period. It also shared that net income attributable to Thor increased 122.8 per cent to US$113.8 million and that the consolidated RV backlog as of 31 October, 2020 was US$8.92 billion.

Bob Martin, president and CEO of Thor Industries, said: “We are pleased to report a solid start to our fiscal year with strong year-over-year growth across all of our major metrics, including net sales, gross margin and net income attributable to THOR. Our backlog continued to increase in the first quarter, setting a record, while dealer inventories continued to decline as many of our product shipments are going directly to fill existing end-customer orders. To address the increase in demand, we have increased production levels. Even with our higher production output and deliveries, demand and backlog for our RV products continue to grow.”

You can view the full report here.