Thor Industries fiscal 3Q sales topped $1 billion

RV and bus maker Thor Industries fiscal 3Q sales topped $1 billion for first time

Associated Press

ELKHART, Ind. (AP) -- Recreational vehicle and bus maker Thor Industries Inc. said Thursday that it topped $1 billion in quarterly sales for the first time.

The company credited the strength of the RV market as reflected in better retail traffic and more optimism among dealers heading into the key spring and summer selling seasons.

Thor said preliminary sales for the quarter ended April 30 rose 13 percent to $1.05 billion from a year ago. That matched the expectation of analysts surveyed by FactSet.

RV sales rose 15 percent while bus sales were flat in the fiscal third quarter, the company said.

Backlog on April 30 was $849.2 million, up 28 percent from last year, with RVs accounting for about three-fourths of the total.

Thor is scheduled to report third-quarter results on June 6. Analysts predict the company will report adjusted earnings of 88 cents per share.

Thor shares rose 48 cents to close at $37.34.