RV maker Thor Industries misses Q4 profit estimates on weak demand

THOR Industries

22/09/2026 11:41

Overview
US recreational vehicle maker's fiscal Q4 revenue declined yr/yr but beat analyst expectations
Adjusted EPS for fiscal Q4 missed analyst expectations amid margin pressure
Company repurchased $34.3 mln of shares during the quarter

Outlook
Company expects a relatively flat retail environment in fiscal 2027 versus fiscal 2026
Thor will provide fiscal 2027 guidance later, after key industry events in September
Company expects restructuring and strategic initiatives to improve earnings profile by over $100 mln annually

Result Drivers
MACRO HEADWINDS - Co said high interest rates, elevated fuel costs and inflation strained household budgets and kept retail demand soft throughout the quarter
SEGMENT PERFORMANCE - European segment delivered resilient results with increased unit shipments and net sales, while North American Towable segment faced lower shipments and cautious dealer ordering
MARGIN PRESSURE - Gross margin declined due to lower sales volumes, unfavorable product mix, increased promotional activity and higher material costs

Company press release: ID:nPn17rrfma

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
Beat
$2.31 bln
$2.17 bln (14 Analysts)
Q4 EPS
Miss
$0.78
$0.91 (14 Analysts)
Q4 Net Income
Miss
$40.84 mln
$47.05 mln (11 Analysts)
Q4 Gross Margin
 
12.40%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 13 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the recreational products peer group is "buy."
Wall Street's median 12-month price target for THOR Industries, Inc. is $90.00, about 28.7% above its September 21 closing price of $69.94
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)