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Thor Shares Surge on Robust 1Q Sales Report

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November 6, 2012 by   Comments Off on Thor Shares Surge on Robust 1Q Sales Report

Thor Industries Inc. gained the most in three months after the maker of RVs and buses said sales surged 30% to a fiscal first-quarter record.

Bloomberg reported that Thor shares climbed 12% to $44.96 in midday trading after advancing as much as 14%, the most intraday since Aug. 3. The Jackson Center, Ohio-based company’s stock had risen 46% this year through yesterday.

Sales for the quarter ended Oct. 31 rose to $876.8 million, Thor said in releasing preliminary results. The average of analysts’ estimates compiled by Bloomberg was $745.5 million. Thor said in a statement that its order backlog at the end of October was $720.4 million, up 41% from a year earlier.

According to Bloomberg, sales of recreational vehicles are monitored as a sign of an improving economy because motorhomes and travel trailers are discretionary purchases that consumers defer during a slump.

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