Page 1

Exhibit 99.1 THOR Industries Reports Record Net Sales Of $ 3.96 Billion And Earnings Per Share Of $ 4.34 For The First Quarter Of Fiscal 2022 And Reaffirms Positi Outlook - Net sales for the first quarter were $ 3.96 billion , an increase of 56.0 % as compared to the first quarter of the prior fiscal year . - Consolidated gross profit margin for the first quarter was 16.6 % , a 170 basis - point improvement over the comparable prior - year period . - Earnings per share for the first quarter were $ 4.34 per diluted share , an increase of 111.7 % as compared to $ 2.05 per diluted share in the same period of the prior fiscal year . - Consolidated RV backlog as of October 31 , 2021 was $ 18.07 billion , an increase of over 100 % as compared to RV backlog as of October 31 , 2020 . -During the first quarter , THOR acquired Airxcel , a significant supplier to the North American RV industry . - For our complete set of investor relations materials , please visit : http://ir.thorindustries.com ELKHART , Ind . , Dec. 8 , 2021 / PRNewswire / -- THOR Industries , Inc. ( NYSE : THO ) today announced record results for its first fiscal quarter ended October 31 , 2021 . " Building on our record - setting fiscal 2021 , THOR delivered yet another quarter of strong financial results to begin our 2022 fiscal year . It seems the market focuse on the supply chain and labor challenges that our industry is facing right now more than it does our performance in the face of those challenges , but our performanc has been consistent despite those challenges . Through outstanding operational execution , our teams continue to successfully navigate through these challenges at record levels . In the quarter , we delivered over 88,100 units , outpacing the RV industry's growth rate of shipments . Our first quarter performance , which marks a thi consecutive quarter of record net sales and diluted earnings per share , is a testament to the experience , flexibility and agility of our operating teams and their drive to meet the needs of our customers in a difficult and dynamic business environment , " said Bob Martin , President and CEO of THOR Industries . " Independent dealer sentiment remains positive and consumer demand for our RV products remains strong . In the first quarter , our global order backlog increased to more than $ 18 billion , reaffirming our view that the dealer restocking process will still take a number of quarters to complete and could possibly extend into calenda 2023 , " said Martin . " The strategic course we have set gives us many reasons to remain confident and optimistic about our future performance as well . Our acquisition of Airxcel in the first quarter is a manifestation of our bullish outlook for our industry and for THOR in particular . This acquisition is a key piece to our strategic positioning of the Company as we seek to strengthen our supply chain . The Airxcel integration has gone exceedingly well , and we continue to see a great opportunity for growth through innovation , additional product offerings and the aftermarket business , " added Martin . First - Quarter Financial Results Consolidated net sales were $ 3.96 billion in the first quarter of fiscal 2022 , compared to $ 2.54 billion in the first quarter of fiscal 2021. This year's first quarter net sales include $ 2.24 billion for the North American Towable RV segment compared to $ 1.39 billion in the first quarter of fiscal 2021 , $ 925.0 million for the North American Motorized RV segment compared to $ 493.9 million in the first quarter of fiscal 2021 , and $ 633.0 million for the European RV segment compared to $ 602.5 million in the first quarter of fiscal 2021. The increase in consolidated net sales is primarily due to the continuing demand for RVs and our recent acquisition The addition of the Tiffin Group , acquired in December of 2020 , accounted for $ 228.3 million of the increase in net sales for the first quarter of fiscal 2022 , while th addition of Airxcel , acquired in September of 2021 , accounted for $ 88.8 million of the increase in net sales for the first quarter of fiscal 2022 , net of intercompany sales . Consolidated gross profit margin increased 170 basis points to 16.6 % for the first quarter of fiscal 2022 , compared to 14.9 % in the corresponding period a year ago . The increase in the consolidated gross profit percentage was primarily driven by the increase in net sales , a reduction in sales discounts since the prior - year period and selective net selling price increases to cover known and anticipated material cost increases . Net income attributable to THOR Industries and diluted earnings per share for the first quarter of fiscal 2022 were $ 242.2 million and $ 4.34 , respectively , compared to $ 113.8 million and $ 2.05 , respectively , in the prior - year period . Segment Results North American Towable RVs ( $ in thousands ) Three Months Ended October 31 , 2021 % 2020 Change Net Sales $ 2,240,834 $ 1,392,044 61.0 Gross Profit $ 408,539 $ 219,848 85.8 Gross Profit Margin % 18.2 15.8 Income Before Income Taxes $ 266,282 $ 141,179 88.6 ( $ in thousands ) 2021 As of October 31 , 2020 % Change