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THOR Industries reported Q3 '26 results that were mixed to bad, with declining sales and profitability across key segments. NA Towable RV sales dropped nearly 25% y/y, with a 39% decline in backlog, while margins suffered from higher material costs and an unfavorable mix. Operating cash flow fell sharply due to inventory buildup, turning free cash flow negative, and management cut full-year EPS guidance to $3.30-$3.80.

THOR Industries: The Market Is Deteriorating, But That's Not A Reason To Downgrade

While the top- and bottom-line numbers for Thor Industries (THO) give a sense of how the business performed in the quarter ended April 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Thor Industries (THO) came out with quarterly earnings of $1.86 per share, missing the Zacks Consensus Estimate of $1.88 per share. This compares to earnings of $2.77 per share a year ago.

Financial Highlights ($ in thousands, except for per share data) Three Months Ended April 30, Change Nine Months Ended April 30, Change 2026 2025 2026 2025 Net Sales $ 2,781,538 $ 2,894,816 (3.9) % $ 7,296,517 $ 7,055,707 3.4 % Gross Profit $ 354,770 $ 443,119 (19.9) % $ 926,998 $ 969,758 (4.4) % Gross Profit Margin % 12.8 % 15.3 % (250) bps 12.7 % 13.7 % (100) bps Net Income Attributable to THOR $ 97,229 $ 135,185 (28.1) % $ 136,701 $ 132,802 2.9 % Diluted Earnings Per Share $ 1.86 $ 2.53 (26.5) % $ 2.59 $ 2.49 4.0 % EBITDA (1) $ 209,078 $ 232,958 (10.3) % $ 411,908 $ 391,035 5.3 % Adjusted EBITDA (1) $ 183,561 $ 254,823 (28.0) % $ 412,620 $ 449,620 (8.2) % (1) See reconciliation of non-GAAP measures to the most directly comparable GAAP financial measures included at the end of this release Fiscal 2026 Third Quarter Net sales of $2.78 billion, Net income attributable to THOR of $97.2 million and EBITDA of $209.1 million in the quarter North American Motorized and European top-line results continue to indicate resilient demand for these products in a difficult macroeconomic environment Opportunistically repurchased $50.5 million of shares during the quarter Net income attributable to THOR was aided by gains from favorable market value adjustments on certain investments as well as gains on the sales of certain real estate associated with strategically optimizing our footprint. Adjusted EBITDA of $183.6 million in the quarter excludes, among other items, nonrecurring costs or benefits associated with strategic reorganization initiatives, the impact of gains on investments and the impact of real estate transactions Full-year fiscal 2026 diluted EPS guidance has been revised in light of prolonged macroeconomic headwinds Consolidated net sales in the range of $9.0 billion to $9.5 billion (no revision) Diluted earnings per share in the range of $3.30 to $3.80 (previously $3.75 to $4.25) ELKHART, Ind.

Get a deeper insight into the potential performance of Thor Industries (THO) for the quarter ended April 2026 by going beyond Wall Street's top-and-bottom-line estimates and examining the estimates for some of its key metrics.

This RV manufacturer maintains a significant presence in North America and Europe with a broad portfolio of travel and leisure vehicles.

On May 20, 2026, Thor Industries Inc (THO) shares rose 3.6% to $74.76, recovering slightly after a challenging year where the stock has declined 26.3% year-to-d

ELKHART, Ind., May 20, 2026 /PRNewswire/ -- THOR Industries, Inc. (NYSE: THO) today announced that the date for its fiscal 2026 third quarter earnings release will be on Wednesday, June 3, 2026, before the market opens.

Shares of Thor Industries, Inc. (NYSE: THO - Get Free Report) have received a consensus rating of "Hold" from the thirteen analysts that are covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price

Thor Industries (THO) reported earnings 30 days ago. What's next for the stock?

ELKHART, Ind., March 31, 2026 /PRNewswire/ -- THOR Industries, Inc. (NYSE: THO), the world's largest manufacturer of recreational vehicles, today announced the appointment of Andy Murray as Senior Vice President of Strategy and Business Development, a newly created role reflecting THOR's continued focus on strengthening its supply chain capabilities and supporting long-term value creation across the RV industry.

ELKHART, Ind., March 24, 2026 /PRNewswire/ -- THOR Industries, Inc. (NYSE: THO) today announced that its Board of Directors approved, at its March 24, 2026, meeting, the payment of a regular quarterly cash dividend of $0.52 per share.

THO posts Q2 profit and revenue growth, backed by acquisitions and EV plans, but shrinking backlog and weak demand in Europe cloud its near-term outlook.
