Thor Industries’ Stock Price Up By 9% Following A Stellar Q4 Earnings Report

The shares of Thor Industries are up by more than 9% today after the company presented an excellent fourth-quarter fiscal report earlier today.

Thor Industries’ Net Sales Surpasses $12 Billion

Thor Industries has been performing excellently over the past few days. This latest development occurred as the company reported an impressive fourth-quarter fiscal revenue, surpassing the estimates by Wall Street analysts.

Net sales in the fourth quarter were $3.59 billion, up by 54% from the same quarter a year ago. The company said it sold over 300,000 units of its product, surpassing $12 billion in net sales and generated net income of approximately $11.85 per diluted share,

Thor Industries added that the consolidated gross profit margin for the fourth quarter was 16.6%, representing a 170 basis-point improvement from the same quarter a year ago. Furthermore, the company’s earnings per share (EPS) for Q4 was $4.12 per diluted share, up by 92.5% as compared to $2.14 per diluted share in Q4 last year.

Bob Martin, President and CEO of THOR Industries, stated that the outstanding results in the previous quarter were a testament to the company’s ability to successfully accelerate production within a fiscal year. It shows the company can increase production to meet surging market demand while the quality, managing labor challenges, ensuring the safety of the workers and navigating the supply chain challenges.

The CEO added that the demand for RV products was huge in the previous quarter, surpassing the company’s production output.

THO Rally Following Thor’s Impressive Quarterly Earnings Result

The shares of Thor Industries have been rallying over the past few hours. THO is up by more than 9% since the company announced its excellent fourth-quarter fiscal revenue. THO is currently trading at $122 per share, outperforming numerous stocks in the market so far today.

THO has also performed well so far today. It started 2021 trading at $93 per share. However, it is now up by 30% since the start of the year and is trading at $122.