Thor Industries, Inc. - THO STOCK NEWS

THOR Industries reported record results for Q2 of fiscal 2021, ending January 31, with net sales of $2.73 billion, up from $2.00 billion year-over-year. Gross profit margin improved to 15.2% from 12.8%. Net income soared to $132.5 million, or $2.38 per share, compared to $28.7 million, or $0.52 from the previous year. Notably, the backlog reached a record $10.81 billion. The company is expanding production capacity despite supply chain challenges, aiming to meet the strong demand for its RV products. They expect continued strength in the RV market through fiscal 2021.

THOR Industries, Inc. (NYSE: THO) has announced that its fiscal second quarter earnings release is scheduled for March 9, 2021, before the market opens. Alongside this release, the company will provide a detailed Q&A document and a slide presentation available on its website. THOR Industries is recognized as the world's largest manufacturer of recreational vehicles, and shareholders can find more information on its previous earnings by visiting their investor relations page.

THOR Industries, Inc. (NYSE: THO) has acquired Tiffin Motor Homes for $300 million. The deal, effective December 18, 2020, supports THOR's strategy to expand its luxury RV portfolio, aligning with Tiffin’s established brand known for quality. Tiffin will operate as a stand-alone company under THOR, maintaining its management team. Approximately 90% of Tiffin's $800 million sales in 2020 were motorized units. The acquisition is projected to be accretive to THOR's earnings for fiscal 2021, with strong growth opportunities in untapped markets.

THOR Industries, Inc. (NYSE: THO) announced the retirement of Jan Suwinski from its Board of Directors after 20 years of service, as part of its director refreshment strategy. His leadership significantly contributed to the company's growth from $800 million to over $8 billion in revenue. Bill Kelley has been appointed as a new director. Suwinski expressed pride in the company's strategic direction and confidence in the current management team, emphasizing THOR's commitment to operational excellence and sustainable growth in the RV industry.

Thor Industries announced a quarterly cash dividend of $0.41 per share, approved by its Board of Directors on December 18, 2020. The dividend will be payable on January 18, 2021, to shareholders on record as of January 4, 2021. This decision reflects the company's commitment to returning value to shareholders amidst ongoing market conditions.

THOR Industries, Inc. (NYSE: THO) has reaffirmed its multi-year partnership with the National Forest Foundation (NFF) aimed at preserving National Forests and Grasslands. This initiative aligns with the surge in outdoor recreation during the COVID-19 pandemic. THOR plans to replant 500,000 trees over five years and provide funds for various conservation efforts including improving campsites and restoring wildlife habitats. CEO Bob Martin emphasized the critical nature of this commitment as access to nature becomes increasingly vital for public health.

THOR Industries reported strong growth in Q1 fiscal 2021, with net sales reaching $2.54 billion, up from $2.16 billion year-over-year. The company achieved a gross profit margin of 14.9%, an increase from 14.3%, and net income of $113.8 million, compared to $51.1 million a year earlier. The backlog hit a record $8.92 billion, showing strong demand across all RV segments. However, supply chain challenges persist, impacting production levels. Despite this, THOR expects continued growth in 2021, supported by a positive industry outlook.

THOR Industries (NYSE: THO) is promoting charitable giving on GivingTuesday, December 1, by leveraging social media to support its nonprofit partners. These organizations focus on preserving public lands and facilitating outdoor experiences for those facing serious health challenges. Donations can benefit the National Forest Foundation, First Descents, and Care Camps. Research shows that outdoor activities enhance healing for cancer patients. THOR's leadership emphasizes the importance of nature in wellness and encourages the public to participate in supporting these initiatives.

THOR Industries, Inc. (NYSE: THO) announced a change to its Annual Meeting of Shareholders, now being held virtually on December 18, 2020, at 8:00 a.m. (CST), due to the COVID-19 pandemic. Shareholders as of October 19, 2020, can participate online with a 16-digit control number from prior proxy materials. A notice regarding this change is filed with the Securities and Exchange Commission. For more details, visit www.virtualshareholdermeeting.com/THO2020.