Thor Industries, Inc. (NYSE:THO) today announced results for the third quarter of fiscal 2020, which ended April 30.
The Elkhart, Indiana-based company, the world's largest manufacturer of recreational vehicles, reported third-quarter net sales of $1.68 billion, compared to $2.51 billion the third quarter of fiscal 2019.
The third-quarter 2020 net sales figure includes $615.3 million in net sales from the European RV segment, $773.4 million in net sales in the North American Towable RV segment and $264.0 million in net sales in the North American Motorized RV segment.
Consolidated gross profit margin was 12.2% for the third quarter of fiscal 2020, compared to 11.7% in the corresponding period a year ago.
Net income attributable to Thor and diluted earnings per share for the third quarter of fiscal 2020 were $24.1 million and $0.43, respectively, compared to net income attributable to Thor and diluted earnings per share of $32.7 million and $0.59, respectively, in the prior-year period.
Said CEO Bob Martin, "Despite this being one of the most unusual quarters I have ever experienced, I am pleased to report that we were profitable and generated positive net cash from operations. Our financial position has remained strong as a result of numerous management-led actions that were executed quickly in conjunction with our temporary plant shutdowns in mid-March.
“Our results are the product of both the highly variable cost structure we have created and our ability to quickly align our production and cost structure to meet fast-changing market conditions."
THO stock leaped $9.36, or 9.4%, to $109.31 early Monday morning.
