Nov. 6 (Bloomberg) -- Thor Industries Inc. gained the most in three months after the maker of Airstream recreational vehicles and Champion buses said sales surged 30 percent to a fiscal first-quarter record.
The shares climbed 10 percent to $44.25 at the close in New York, the biggest daily gain since Aug. 3. The Jackson Center, Ohio-based company’s stock has risen 61 percent this year.
Sales for the quarter ended Oct. 31 rose to $876.8 million, Thor said today in releasing preliminary results. The average of analysts’ estimates compiled by Bloomberg was $745.5 million. Thor said in a statement that its order backlog at the end of October was $720.4 million, up 41 percent from a year earlier.
Sales of recreational vehicles are monitored as a sign of an improving economy because motor homes and travel trailers are discretionary purchases that consumers defer during a slump.
To contact the reporter on this story: Bill Koenig in Southfield, Michigan, at firstname.lastname@example.org
To contact the editor responsible for this story: Jamie Butters at email@example.com