Thor Industries Inc. reports its motorhome and towable RV sales revenue increased 65% during the third quarter of its fiscal year 2004, which ended on Friday (April 30).
The company’s RV-related sales during the February-through-April period totaled a record $594 million, compared with $359 million a year earlier. The $594 million includes $68 million from Class A motorhome manufacturer Damon, which Thor acquired Sept. 2.
Excluding Damon’s contribution, Thor’s RV-related sales revenue still was up 47% for its third fiscal quarter.
Thor’s bus sales declined 6% during the recently completed quarter to $51 million.
During the nine months ended April 30, Thor’s RV sales increased 42% to $1.40 billion, compared with $987 million during the same period a year earlier.
Last week, Fleetwood Enterprises Inc. reported that its RV-related sales amounted to $1.78 billion for the 12 months ended on April 25. But based upon Thor’s performance so far, Chairman Wade Thompson now believes Thor, on an annualized basis, is the largest RV producer in terms of sales revenue and units produced.
Despite price increases enacted in March to offset the higher cost of steel, lumber and aluminum, Thor’s RV order backlog was up 177% as of April 30 to $479 million, versus the same date a year earlier. Damon accounted for $35 million of the backlog.
Thor’s dealers retailed a record 9,344 motorhome and towable RV units in April, a 33% increase over April 2003. The volume in April followed a record 7,253 units sold by Thor’s dealers in March, which represented a 32% increase over the same month a year earlier.
Thor, a New York Stock Exchange-listed company, is expected to report its third-fiscal-quarter earnings in about four weeks.