Stock Alert: Thor At New High On Earnings, Outlook

(RTTNews) - Shares of recreational vehicles maker Thor Industries, Inc. (THO) are climbing more than 7% Monday morning to touch a new high of $110.99 after the company reported better-than-expected third-quarter earnings. The stock is currently at $107.44.

The company's third-quarter earnings of $0.43 per share beat the average estimate of analysts polled by Thomson Reuters for a loss of $0.26 per share.

Net sales for the quarter, were down at $1.68 billion, from $2.51 billion last year, while meeting the consensus estimates. "Many of our dealers are reporting a significant improvement in sales from April to May and are excited about the sales potential for June and beyond. Because of this improved outlook and the relaxation of many stay-at-home restrictions, we began to restart production in the first week of May in North America," said Bob Martin, President and CEO of Thor Industries.