finance

Thor Jumps After Most Profitable Year; Q4 Sales Up 55%



© Reuters.

By Dhirendra Tripathi

Investing.com – Thor Industries stock (NYSE:) soared nearly 9% Tuesday as the maker of recreational vehicles recorded its most profitable year with annual sales topping the $12 billion mark for the first time.

The robust performance comes on the back of production falling short as the economy reopened. People stepped out to enjoy the great outdoors again, and demand for its recreational vehicles soared.

According to Thor Industries President and CEO Bob Martin, the sustained demand has led to historically low dealer inventory levels getting extended and resulted in a new record-high backlog value of $16.86 billion as of July 31, almost triple from last year’s.

The company sold over 300,000 units during the year and posted a diluted earnings per share of $11.85, nearly triple of previous year’s $4.02 and erasing the previous record of $8.14 set in financial year 2018.

The annual sales got a big boost from the jump in fourth quarter which saw net sales rise 55% to $3.59 billion. Diluted EPS was $4.12, and like sales, topped estimates.

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

See also  Glasgow needs 'City Deal Mark Two' says chamber of commerce leader

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.  Learn more