Bloomberg News

Thor Industries Surges as Revenue Increases 30%

November 06, 2012

Thor Industries Inc. (THO:US) gained the most in three months after the maker of Airstream recreational vehicles and Champion buses said sales surged 30 percent to a fiscal first-quarter record.

The shares (THO:US) climbed 12 percent to $44.96 at 11:02 a.m. in New York after advancing as much as 14 percent, the most intraday since Aug. 3. The Jackson Center, Ohio-based company’s stock had risen 46 percent this year through yesterday.

Sales for the quarter ended Oct. 31 rose to $876.8 million, Thor said today in releasing preliminary results. The average of analysts’ estimates compiled by Bloomberg was $745.5 million. Thor said in a statement that its order backlog at the end of October was $720.4 million, up 41 percent from a year earlier.

Sales of recreational vehicles are monitored as a sign of an improving economy because motor homes and travel trailers are discretionary purchases that consumers defer during a slump.

To contact the reporter on this story: Bill Koenig in Southfield, Michigan, at wkoenig@bloomberg.net

To contact the editor responsible for this story: Jamie Butters at jbutters@bloomberg.net


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Companies Mentioned

  • THO
    (Thor Industries Inc)
    • $53.61 USD
    • 0.58
    • 1.08%
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