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RV Maker Thor Industries Stock Jumps as Earnings Nearly Double

Thor Industries stock traded higher as demand for recreational vehicles remained strong in the July quarter.

Shares of Thor Industries  (THO) - Get Thor Industries, Inc. Report jumped on Tuesday after the recreational-vehicle maker nearly doubled its fiscal-fourth-quarter earnings and exceeded analysts' expectations.

Shares of the Elkhart, Ind., company at last check rose 12% to $126.11. The stock touched a 52-week high $152.20 in mid-March.

For the quarter ended July 31, Thor Industries posted earnings of $231.3 million, or $4.12 a share, up 93% from $119.7 million, or $2.14 a share, in the year-earlier quarter.

Revenue climbed 55% to $3.59 billion from $2.32 billion. 

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A survey of analysts by FactSet produced consensus estimates of earnings of $2.90 a share on revenue of $3.31 billion.

"Demand for our RV products remains very robust, continuing to exceed production output," President and Chief Executive Bob Martin said in a statement.

The company speeded up production during the fiscal year to meet "surging market demand while continuing to maintain quality, navigating continuing supply chain challenges, managing labor constraints and ensuring the safety of our workforce," added Martin.

In North America, towable-RV sales rose 46% to $1.73 billion and motorized-RV sales more than doubled to $823.1 million. 

European sales were 31% higher at $969.9 million, the company said.

For the full fiscal year, Thor Industries sold more than 300,000 recreational vehicles.