Thor Industries Q3 revenues up 105.7%
Topics: THOR INDUSTRIES
Increases in year-over-year financial results for the Company's third quarter of fiscal 2021 are primarily attributable to strong demand in the current-year period and the negative impact of the COVID-19 pandemic in the prior year, which began in the middle of the prior-year third quarter and resulted in 6 to 8 weeks of production shutdowns at most of our facilities.
Net sales were $3.46 billion in the third quarter of fiscal 2021, compared to $1.68 billion in the third quarter of fiscal 2020. This year's third quarter net sales include $1.73 billion for the North American Towable RV segment, $775.4 million for the North American Motorized RV segment and $894.2 million for the European RV segment.
Consolidated gross profit margin increased 240 basis points to 14.6% for the third quarter of fiscal 2021, compared to 12.2% in the corresponding period a year ago. The increase in the consolidated gross profit percentage was primarily due to the impact of the increase in net sales in the current-year period compared to the prior-year period and realization of strategic initiatives designed to improve our margins.
Net income attributable to THOR Industries and diluted earnings per share for the third quarter of fiscal 2021 were $183.3 million and $3.29, respectively, compared to net income attributable to THOR Industries and diluted earnings per share of $24.1 million and $0.43, respectively, in the prior-year period, and exceeds the former record for diluted earnings per share of $2.53 in the third quarter of fiscal 2018. ■