Thor Industries (THO) Tops Q4 EPS by 86c, Revenues Beat

Thor Industries (NYSE: THO) reported Q4 EPS of $2.14, $0.86 better than the analyst estimate of $1.28. Revenue for the quarter came in at $2.32 billion versus the consensus estimate of $2.24 billion.

"I am pleased to report that Thor's net sales increased significantly with each passing month in the fourth quarter of fiscal 2020 as we emerged from the COVID-19 induced production furlough that started in our third fiscal quarter. Our fourth quarter results prove that our employees and management teams around the world are experienced and agile, and that our highly variable business model facilitated a rebound from a virtual production standstill in May to full production by July," said Bob Martin, President and CEO of Thor Industries.

"We saw increasing retail demand over the course of the quarter, driving dealer inventories to historically low levels by year end and our year-end backlog to a record high. As I have noted before, the long-term outlook for our business remains excellent. Now, with the increasing interest in the RV lifestyle from a new group of consumers, the short-to-medium-term outlook is also robust. This current demand for RVs, coupled with the need to replenish dealer inventories that are at all-time lows, positions us for continued success well into calendar 2021. We also believe that the influx of new RV buyers will lead to many becoming long-term RV enthusiasts down the road. Historically, long-term RVers trade in and trade up for a new RV every 3 to 5 years, which further positions us for success well into the future," added Martin.

For earnings history and earnings-related data on Thor Industries (THO) click here.

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