Demand Fuels Thor Profit Growth

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Thor relocated its headquarters to Elkhart County in 2013. Thor relocated its headquarters to Elkhart County in 2013.
ELKHART -

Elkhart-based Thor Industries Inc. (NYSE: THO) is reporting fiscal second quarter net income of $64.8 million, up from $44.7 million during the same period the previous year. Chief Executive Officer Bob Martin says the recreational vehicle manufacturer's growth was spurred by a positive start to the spring retail season.

Martin adds growing demand from new consumers has continued as younger families are buying more travel trailers and smaller motorhomes. He expects the company and the RV industry to outpace the high volumes in 2016.

"We remain convinced that these trends will continue to drive industry growth in future periods, as we provide new consumers with positive experiences that prompt them to become lifelong RVers," said Martin. "We increased production in the first half of fiscal 2017, which is typically a slower seasonal period, to respond to the high demand. The investments we are making in expanding our production facilities will position us well for long-term growth, which is a consistent focus of our strategic plan."

Thor subsidiaries Keystone RV, Jayco and Heartland RV have all announced expansion projects which, when complete, could result in the creation of up to 800 total jobs throughout northern Indiana.

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