Thor Hits Record Profit

Thor relocated its headquarters to Elkhart County in 2013.

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Elkhart-based Thor Industries Inc. (NYSE: THO) is reporting record fiscal first quarter net income of $128 million, up from $78.7 million during the same period last year. Chief Executive Officer Bob Martin says the recreational vehicle manufacturer’s results are due to industry demand, which "remains exceedingly strong."

"During the quarter, we leveraged the strength in industry demand to drive increased profitability across both segments of our business through a combination of increased output from recently added production capacity, enhanced scheduling and optimization of production runs at our existing facilities, as well as various initiatives implemented across the Company over the last year to improve operating efficiencies," Martin said in a news release.

Martin says dealer optimism remains high and he believes the industry will see continued growth for the foreseeable future. He adds the company’s increasing backlog shows the need for further investment in production capacity in order to meet demand.

You can view the full fiscal first quarter earnings report by clicking here.