Thor Posts Records for 4Q, Full-Year Revenue
Thor Industries Inc. announced today (Aug. 2) record sales for its fiscal fourth quarter and full year, ended July 31.
According to the Jackson Center, Ohio-based company, fourth-quarter sales rose 15% to $887.2 million compared to $770.5 million in the same period a year ago. It represents a record for any quarter in Thor’s history.
RV sales were $769.56 million, up 18% from nearly $654 million in last year’s fourth quarter. Bus group sales edged up 1% to $117.6 million.
Thor also recorded a sales record for the full year, tallying just over $3 billion, representing a 12% increase over $2.75 billion the previous year. For the full year, RV sales were $2.6 billion, up 13% from $2.3 billion in the prior year while bus group sales in the fiscal year gained 7% to $444.2 million.
Cash, cash equivalents and investments on July 31 were $220 million versus $217 million a year ago. Backlog on July 31 was $558 million, up 29% from $432 million last year. RV backlog was $336 million, up 47% from $228 million last fiscal year. Bus group backlog was $222 million, up 9% from $204 million in fiscal 2011.
“Thor achieved record annual revenue for the fiscal year ended July 31,” said Peter B. Orthwein, Thor chairman and CEO. “Likewise, our fourth quarter revenue was very strong, setting a new record for any fourth quarter in Thor’s history. While promotional activity abated somewhat in recent months, the environment remains competitive and industry incentives remain high.
“Our higher year-end backlogs provide optimism for next fiscal year, which is tempered by lower consumer confidence levels and the uncertain economic and political landscapes. RV dealer inventories remain well aligned with consumer demand and, like last year, some dealers are waiting for Thor’s September Open House event in Indiana before increasing their order activity.”