Fourth Quarter Net Sales Up 54.6% and Earnings Per Share up 92.5%
- Net sales for the fourth quarter were $3.59 billion, an increase of 54.6% as compared to the fourth quarter of the prior fiscal year.
- Consolidated gross profit margin for the fourth quarter was 16.6%, a 170 basis-point improvement over the comparable prior-year period.
- Earnings per share for the fourth quarter were $4.12 per diluted share, an increase of 92.5% as compared to $2.14 per diluted share in the same period of the prior year.
- As planned, THOR fully repaid the Asset-based Credit Facility ("ABL") borrowings incurred during the second quarter of fiscal 2021 in connection with the Tiffin Group acquisition.
- Consolidated RV backlog as of July 31, 2021 was $16.86 billion, an increase of over 190% as compared to RV backlog as of July 31, 2020.
ELKHART, Ind., Sept. 28, 2021 /PRNewswire/ -- THOR Industries, Inc. (NYSE: THO) today announced record results for the fourth fiscal quarter and fiscal year ended July 31, 2021.
"We are pleased to report that in a year of unprecedented challenges, THOR posted record net sales and net income for the fourth fiscal quarter and the full fiscal year, making it the most profitable year in THOR's history. For the fiscal year, we sold over 300,000 units, eclipsed $12 billion in net sales and generated net income attributable to THOR of $11.85 per diluted share, which far exceeds the former record for diluted earnings per share of $8.14 set in fiscal year 2018. These outstanding results are a testament to our team's ability to successfully accelerate production over the course of the fiscal year to meet surging market demand while continuing to maintain quality, navigating continuing supply chain challenges, managing labor constraints and ensuring the safety of our workforce," said Bob Martin, President and CEO of THOR Industries.
"Demand for our RV products remains very robust, continuing to exceed production output. This sustained level of strong demand has led to a continuation of historically low dealer inventory levels and resulted in a new record-high backlog value of $16.86 billion as of July 31, 2021," said Martin.
Thor Industries, Inc. - THOR Industries Reports Record Fiscal 2021 Results as Net Sales Top $12.3 Billion with Earnings Per Share of $11.85
