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Thor Posts Solid Gains in 1Q Motorhome Sales
Posted By RVBusiness On November 5, 2013 @ 1:24 pm In Breaking News,News In Focus | No Comments
Elkhart, Ind.-based Thor Industries Inc. today (Nov. 4) announced preliminary sales, as well as continued growth in the company’s backlog, for its fiscal 2014 first quarter, ended Oct. 31.
Preliminary consolidated sales from continuing operations in the first quarter were $802.6 million, up 5.4% from $761.4 million in the first quarter last year. Towable RV sales for the first quarter were $625.7 million, down 2.1% from $639.2 million in the first quarter of fiscal 2013. Motorized RV sales in the first quarter increased 44.8% to $176.9 million from $122.2 million in the same quarter a year ago.
Consolidated backlog on Oct. 31 was $733.2 million, representing a 41.9% increase from $516.7 million the previous year. Towable RV backlog increased 13.5% to $419.8 million compared to $369.9 million at the end of the first quarter of fiscal 2013. Motorized RV backlog more than doubled to $313.4 million from $146.8 million a year earlier.
“Thor achieved solid improvements in our preliminary sales for the first quarter of the fiscal year. Our towable sales were somewhat softer compared with the prior year, while our motorized sales posted very strong growth as that market continues to recover sharply,” said Bob Martin, Thor president and CEO. “While we have seen stability in the overall towable market, we took the opportunity to be disciplined in our towable business in an effort to better balance our production with industry demand, which should benefit Thor during the more seasonally slow fall and winter months.
“In motorized, we have begun production on our first line in Wakarusa and we expect to have the second line in operation during the fiscal second quarter, both of which will help support our overall growth. We expect to report our first-quarter operating results on Dec. 2.”
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