Another Record Quarter For Thor

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 record fiscal third quarter net income of $133.8 million, up from $111.3 million during the same period last year. Chief Executive Officer Bob Martin says the results "reflect another period of solid growth of both sales and earnings."

The recreational vehicle manufacturer is also reporting record net sales of $2.25 billion. Martin says the company continues to leverage the strength in industry demand to drive continued growth.

"While labor costs have moderated, we are experiencing inflationary price increases in certain raw material and commodity-based components due in large part to the headwinds created by the announcement and implementation of the steel and aluminum tariffs and other regulatory actions, as well as higher warranty costs," Martin said. "We will continue to manage these input factors through a combination of strategic actions and believe, over time, we will be able to offset these cost increases."

Martin says the company has seen improvement in product delivery times due to the completion of several production expansion projects over the past few quarters. He says the RV industry remains strong, supported by high consumer confidence rates, favorable employment trends and a healthy housing market.

"Dealer optimism also remains high, and their inventory is fresh," added Martin. Demand continues to be driven by favorable demographic and lifestyle growth trends, including the ongoing strength of baby-boomer customers, as well as first-time and younger buyers. As we complete our 2018 fiscal year, we expect another record year for Thor."

You can connect to the full fiscal third quarter earnings report by clicking here.

  • Perspectives

    • Patten is managing partner of Patten Consulting Group.

      How Murray The Cat Improved My Management Perspective

      Strategic planning likely occupies a fair amount of your time right now, particularly in the fourth quarter of an unusual year. As 2019 nears, so does talk of a possible recession, a renewed presidential election cycle and other issues that may be driving an urgent sense of a need for change at your company or organization. As one with several years in C-level executive positions, I've been brought in to...

    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

    • $25M Behavioral Hospital Coming to Central Indiana

      Danville-based Hendricks Regional Health is partnering with US HealthVest to develop a stand-alone behavioral center on the Hendricks campus in Plainfield. Known as the Indianapolis Behavioral Hospital, the facility will provide specialized inpatient and outpatient mental health care to patients of all ages.

    • Bags From Train Seats Put PUP in National Marketplace

      An Indianapolis-based nonprofit that creates wallets, handbags and backpacks from reclaimed materials is launching a nationally-focused line of products for the first time. People for Urban Progress, which sells hand-made items from materials including the fabric from the old Hoosier Dome and signage from when Indianapolis hosted the Super Bowl, is repurposing leather from the seats in Amtrak's Boston to Washington D.C. Acela Express trains. The new line includes...

    • The Impact of Technology on Economic Development Policy

      In a world where technology is enabling almost everything, economic development policy makers are faced with several challenges when planning and implementing strategies for economic growth. Communities, regions and states must be able to adapt programs and initiatives to address the economic disruption caused by technology. In particular, investments in tech and talent are vital to ensuring economic growth and wealth creation for residents and businesses throughout the world.

    • Indy, Atlanta Vie For Future FFA Conventions

      As the National FFA kicks of its National Convention and Expo in Indianapolis this week, the organization, and Indy convention planners, have an eye to what city will host future events. The 91st edition of the FFA convention is expected to attract nearly 70,000 attendees from every state in the nation, and pack a $40 million economic impact in the region. The lucrative event is committed to Indianapolis through 2024. Chief Executive Officer Mark Poeschl says...

    • United Way Names VP of Public Policy

      United Way of Central Indiana has named Mindi Goodpaster vice president of public policy. She will lead the organization's work to advocate for public policies that help eliminate barriers to education, financial stability, health and basic needs in our community. Goodpaster previously served as director of public policy and advocacy for the Marion County Commission on Youth.