American recreational vehicles (RV) manufacturer Thor Industries, Inc. (NYSE:THO) shares traded higher on Wednesday after the company reported strong fourth-quarter financial results.
Thor Industries clocked fourth-quarter earnings per share of $2.36, beating the analyst consensus estimate of $1.27. Quarterly sales of $2.523 billion (-0.4% year over year) outpaced the Street view of $2.333 billion.
Thor Industries said that the North American Towable and North American Motorized segments saw market share inflect in the period as strategic initiatives executed throughout the fiscal year continued to gain traction.
North American Towable RVs
The North American Towable RV segment experienced a 4.6% decrease in net sales, totaling $888.7 million for the quarter. Unit shipments were down 10.1%.
Despite the decline in sales and shipments, the segment’s gross profit margin improved to 13.3%, a 70 basis point increase. The backlog for …