Near-Record Sales Drives Thor Profit

Posted: Updated:
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 $79.8 million, up from $64.8 million during the same period last year. Chief Executive Officer Bob Martin says the recreational vehicle manufacturer achieved its third-highest sales level of any quarter in its history, in what it calls a historically low-volume quarter.

Marin says Thor continued to experience a tight labor market in the northern Indiana region during the quarter. The company also experienced some inflationary price increases in certain raw material and commodity-based components, which it was able to manage through various actions.

During the fiscal second quarter, Thor also announced a 50/50 joint venture with New Zealand-based Tourism Holdings Ltd. The venture, for which Thor is making an initial $50 million investment, closed earlier this month.

"Our second quarter results reflect another period of exceptional growth of both sales and earnings,” said Martin. "We leveraged the combined strength in industry demand and share gains to drive increased profitability across both segments of our business through a combination of increased output from recently added production capacity, enhanced scheduling and optimization of production runs at our existing facilities, as well as various initiatives implemented across the Company over the last year to improve operating efficiencies."

The earnings results follows a record fiscal first quarter for Thor. You can connect to the full second quarter results by clicking here.

  • Perspectives

    • (photo courtesy of Bosma Enterprises)

      Making a Difference Through Meaningful Employment

      Imagine facing a 70 percent unemployment rate. That is the challenge people who are blind or visually impaired are up against when trying to find employment. And it is why Bosma Enterprises' mission to create opportunities is so important. The Governor’s Council designates each March as Disability Awareness Month to promote independence, integration and inclusion of all people who have disabilities. As the state’s largest employer of people who are blind or...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • The Amazon Effect: How Big is The Economic Impact?

      Jeff Bezos, CEO of Amazon, increased his net worth by $6.44 billion dollars just by saying a few words. He announced the company's earnings on October 26, 2017, and Amazon stock jumped 8 percent. How are you impacted by the Amazon Effect?

    • Jenni White

      Trinity Haven Hires First Employee

      Trinity Haven has named Jenni White executive director. She most recently served as vice president of mission impact at Coburn Place. White has also worked in various capacities with the Damien Center and Leadership Evansville. She is active with the Indiana Coalition Against Domestic Violence and the Indianapolis Continuum of Care.

    • Photo courtesy of 410 Bakery

      Hoosier Bakery Makes Top 7 Gas Station Conversion List

      A Hoosier bakery has been recognized as one of “America’s 7 Most Beautiful Gas Station Conversions” by Architectural Digest. 410 Bakery in New Albany launched in 2016 as a full retail bakery in what was previously the Economy Filling Station. 

    • New Indiana State President Confirmed

      The Indiana State University Board of Trustees has unanimously approved Deborah Curtis as the school's 12th president. Curtis, currently the provost and chief learning officer at the University of Central Missouri, will begin her new role in January.

    • Bose Public Affairs Promotes Sorvig to VP

      Bose Public Affairs Group LLC has promoted Rachel Sorvig to vice president. She joined the firm in 2012 and most recently served as public relations director. Sorvig previously served as communications director for the office of Indiana Lt. Governor Becky Skillman, where she managed communications for the Lt. Governor’s office and five additional state agencies including those responsible for agriculture and energy policy.