This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Thor Announces Preliminary Sales For Second Quarter And Six Months Impacted By Weather; Improved Backlog

Stocks in this article: THO

ELKHART, Ind., Feb. 4, 2014 /PRNewswire/ -- Thor Industries, Inc. (NYSE:THO) today announced preliminary sales, as well as continued growth in the Company's backlog, for the second quarter and six months ended January 31, 2014. 

Preliminary consolidated sales from continuing operations in the second quarter were $636.3 million, down slightly from $636.6 million in the second quarter last year.  Towable RV sales for the second quarter were $474.1 million, down 9.3% from $522.8 million in the second quarter of fiscal 2013.  Motorized RV sales in the second quarter increased 42.5% to $162.2 million from $113.8 million in the same quarter a year ago. 

For the six months ended January 31, 2014, preliminary consolidated sales from continuing operations were $1.44 billion, up 2.9% from $1.40 billion last year.  Towable RV sales for the six months were $1.10 billion, down 5.2% from $1.16 billion last year.  Motorized RV sales rose 43.8% to $339.3 million from $236.0 million last year. 

Consolidated backlog on January 31, 2014 was $845.2 million, up 37.1% from $616.6 million at the end of the second quarter last year.  Towable RV backlog increased 33.7% to $501.9 million, compared to $375.4 million at the end of the second quarter of fiscal 2013.  Motorized RV backlog increased 42.3% to $343.3 million from $241.2 million a year earlier. 

"Thor's sales for the second quarter were adversely affected by the severe winter weather that has plagued the Midwest this year.  In January, our operations in Indiana lost several days of production due to severe cold temperatures and heavy snow," said Bob Martin, Thor President and CEO.  "The severe weather affected our ability to receive materials, run production and ship units amid the frigid temperatures and hazardous road conditions.  The second quarter sales total also reflects the impact of certain operational moves we've made over the past few months.  Ultimately, these factors have resulted in a shift in the timing of deliveries and revenues from the second quarter to later in the year as indicated by our backlog growth. The RV markets remain strong as reflected by the higher traffic and increased sales activity we've seen in the early retail shows," he added.

Thor expects to report its second-quarter operating results on March 6, 2014.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,461.13 +73.92 0.43%
S&P 500 2,038.65 +9.10 0.45%
NASDAQ 4,726.1890 +44.6920 0.95%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs