Thor Industries, Inc. (NYSE:THO) saw its shares pop on fourth-quarter numbers, released Monday.
The company, out of Elkhart, Ind., told investors fourth-quarter net sales were $2.31 billion, an increase of $437.5 million, or 23.3%, from the fourth quarter of fiscal 2018, as the inclusion of $719.5 million in net sales from the European RV segment was partially offset by a 17.6% decrease in North American Towable RV sales and an 8.1% decrease in North American Motorized RV sales.
THO also said overall gross profit margin was 14.4% in the quarter, compared to 13.0% in the prior-year period, primarily reflecting favorable product mix and improvements in material, labor, and warranty cost percentages in the North American towable segment, the Company's largest segment.
Net income attributable to Thor was $92.1 million, and diluted earnings per share for the fourth quarter was $1.67.
According to CEO Bob Martin, "Fiscal 2019 was a year of significant accomplishments amid challenging industry conditions. We completed the largest acquisition in our Company's and the RV industry's history, while managing through the overhang of inventory among our independent dealers. As we look ahead to fiscal 2020, we see many reasons for optimism as we leverage the global growth opportunities of EHG.
"Our confidence was reinforced at the recent Düsseldorf Caravan Salon in late August, the Hershey RV show in mid-September and our Open House event held last week. Each of these important events were well attended and reflected the current optimistic sentiment of our independent dealers and consumers."
Shares leaped $6.58, or 13.5%, to $55.50
