Monday, October 20, 2014

Thor Industries hits record preliminary sales for third quarter

The Elkhart-based RV manufacturer reported a record-setting third quarter in fiscal 2014.

Posted on May 6, 2014 at 5:00 a.m.

ELKHART — Recreational vehicle and bus maker Thor Industries announced record preliminary sales for the third quarter and nine months.

Thor Industries reported preliminary consolidated sales from continuing operations in the third quarter were $1.05 billion, up 13 percent from last year's third quarter sales.

The company reported increased sales in both motorized and towable RVs for the third quarter. Motorized RV sales rose 38 percent, while towable RV sales were up eight percent from the same quarter a year ago.

Backlog on April 30 was $820.2 million, up 26 percent from last year.

Thor said it overcame several challenges to post the record sales, including losing production and shipment days to the harsh winter and a transport driver shortage that's worse than usual.

"Although we still faced a number of factors, particularly in the first half of the quarter, that affected our operations and shipments, strong demand for our products resulted in record sales," said Bob Martin, Thor President and CEO, said in a statement. "As we continue to navigate through some near-term challenges, we remain optimistic about our business and our industry, as strong early retail sales results have boosted the confidence of dealers as we reach the heart of the peak selling season." 

Thor expects to report its third quarter operating results on June 5.

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