Thor Sees Major Increase in Q2 Profit

(photo courtesy of Thor Industries Inc.)

Elkhart-based Thor Industries Inc. (NYSE: THO) is reporting fiscal second quarter net income of $132.5 million, up from $28.7 million during the same period last year. Chief Executive Officer Bob Martin says the recreational vehicle manufacturer saw extremely strong demand for its products during the second quarter, which is typically its lowest sales quarter.

“We are aggressively working to meet this demand by selectively and strategically expanding production capacity at numerous plants by reconfiguring them or adding additional production lines and the requisite inventory while managing through temporary supply chain limitations,” said Martin. “In addition, we have increased production levels across the vast majority of our plants. We are focused on balancing volume with quality output and being mindful not to over expand our production capabilities.”

Thor says net sales for the quarter totaled $2.7 billion, up from $2.0 billion during the same quarter last year.

You can view the full earnings report by clicking here.