Thor Industries (NYSE:THO) reported a return to profitability in its fiscal second quarter, bolstered by strong motorized RV demand, while simultaneously moving to dismantle its long-standing decentralized business model in North America.
The world’s largest RV manufacturer announced on Tuesday that net sales for the quarter ended January 31, 2026, rose 5.3% to $2.13 billion.
More significantly, the company reported net income of $17.8 million, a sharp reversal from the loss recorded in the same period last year.
Adjusted EBITDA climbed 12.7% to $98.1 million, as the company benefited from a 30% surge in North American motorized sales and footprint optimization gains.
Despite the earnings beat, the company maintained its full-year fiscal 2026 guidance, projecting consolidated net sales between $9 billion and $9.5 billion and diluted EPS in the range of $3.75 to $4.25.
Management characterized the hold as "prudent" given a still-challenging retail environment and seasonal fluctuations.
The financial results were paired with a major strategic shift: the "seismic" reorganization of its North American operations.
Breaking from its traditional model where brands operated with high degrees of independence, Thor is consolidating the majority of its domestic OEMs into two distinct operating groups to drive "meaningful efficiencies."