Thor Industries continues to post impressive financial results

One of the world’s largest providers of RVs, Thor Industries, has reported impressive sales and profit figures for the second quarter of its fiscal 2022 year, continuing where it left off in 2021. The company, which owns brands including Airstream, Jayco, Tiffin Motorhomes, Airxcel, and the Erwin Hymer Group, reported that its net sales for the second quarter were US$3.88 billion, an increase of 42.1 per cent compared to the same quarter of fiscal 2021. The company’s consolidated gross profit margin for the same period was 17.4 per cent, a 220 basis point improvement over the comparable prior-year period.

Bob Martin, president and CEO of Thor Industries, said: “While we remain very focused on our performance as a business and I’m pleased to report on our results, we would be remiss if we did not state our firm support for the people of Ukraine in the defence of their country. We have sent and will continue to send our support and evaluate ways we can assist and respond to the humanitarian and refugee crisis unfolding in Europe. This includes offering our recently acquired facility in Nowa Sol, Poland as a staging operation for the Red Cross as it attempts to provide relief for the displaced Ukrainians. We are also working on procuring and donating needed staples for these displaced persons. The people of Ukraine are at the front of our minds and we are focused on finding additional ways we can continue to be an impactful global citizen.”

“As for the second fiscal quarter results, our performance was extremely strong, despite the continuation of supply chain challenges. Our results show the strong appeal of our products, the continued strong demand in our industry and the outstanding performance by our team members. In addition to our second-quarter record top line, we reported consolidated gross profit margin of 17.4%. Our increased margins were driven by the increase in net sales, improved quality and operating efficiencies, a reduction in sales discounts compared to the prior-year period and certain selling price increases put in place since the prior-year period to offset known and anticipated material cost increases. We continue to outperform the market and continue to hold a positive outlook.”

Read the full second quarter fiscal 2022 report here.