Thor Industries (NYSE: THO) reported Q3 EPS of $3.29, $0.95 better than the analyst estimate of $2.34. Revenue for the quarter came in at $3.46 billion versus the consensus estimate of $3.01 billion.

"We posted record results in our third fiscal quarter, achieving both the highest quarterly net sales and net income figures in the history of THOR Industries. These results show that growth continued unabated after the initial temporary shutdown of our dealers and THOR Industries' production lines in late March through the end of April of last year due to the pandemic. We have increased our production levels, often with modest capital expenditures, and intend to continue to increase production levels to address the ongoing, robust consumer and dealer demand for THOR Industries RV products, while also managing through continuing supply chain challenges," said Bob Martin, President and CEO of THOR Industries.

"Demand for our products continues to grow at both the retail and wholesale levels. While our pace of production and shipments has accelerated, demand is so high that independent dealer inventories of THOR Industries products continue to decline while dealer sales are increasing. This increasing consumer demand has driven our order backlog to more than $14 billion at the end of the quarter and includes units that will be needed to restock depleted dealer inventories. Since a significant number of units in our backlog have already been retail sold, we currently believe the restocking cycle will extend well into calendar 2022," said Martin.

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