Sweden's Thule beats Q4 revenue expectations on acquisition impact

Thule AB

10/02/2026 06:53

Overview

Sweden's sports and outdoor company Thule Q4 revenue rose 9.4%, beating analyst expectations

Adjusted EPS for Q4 was SEK 0.20

Company sees strong growth in RV Products in Europe

Outlook

Thule plans to launch new products in Q1 2026, including a bike rack and roof box

Company will open e-commerce in Australia in Q1 2026

Thule to focus on efficiency improvements and R&D investments in 2026

Result Drivers

ACQUISITIONS IMPACT - Acquisitions contributed 19.9% to sales growth, offsetting negative exchange rate effects

RV PRODUCTS GROWTH - Strong growth in RV Products supported positive development in Europe

COST EFFICIENCY - Decreased product development costs and lower total expenses, excluding acquisitions, improved margins

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
Beat
SEK 1.84 bln
SEK 1.78 bln (5 Analysts)
Q4 Adjusted EPS
SEK 0.20
Q4 Net Income
SEK 21 mln
Q4 Adjusted Free Cash Flow
SEK 54 mln
Q4 EBIT
SEK 83 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy"

Wall Street's median 12-month price target for Thule Group AB is SEK280.00, about 28.9% above its February 9 closing price of SEK217.20

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 20 three months ago

Press Release: ID:nMFN1TgqD

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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.)