THOR Industries Q4 sales fall 8.4% to $2.31 billion

• THOR Industries (NYSE:THO) reported fiscal 2026 fourth-quarter net sales of $2.31 billion, down 8.4% year over year.
• Full-year revenue remained nearly flat at $9.61 billion, while profitability declined due to lower margins and restructuring costs.
• The company continued cost reduction initiatives expected to generate more than $100 million in annual savings.

THOR Industries (NYSE:THO) reported fiscal 2026 fourth-quarter and full-year financial results, showing lower earnings as the company navigated weaker North American RV demand, margin pressure and restructuring initiatives.

Fourth-quarter net sales totaled $2.31 billion, representing an 8.4% decline compared with the prior-year period.

Net income for the quarter fell to $40.8 million, down 67.5% year over year, while diluted earnings per share declined to $0.78 from $2.36.

EBITDA decreased 42.2% to $130 million, while adjusted EBITDA declined 37.1% to $131.7 million.

For the full fiscal year, THOR Industries generated net sales of $9.61 billion, up 0.3% from the previous year.

However, net income declined 31.3% to $177.5 million, and diluted EPS decreased 30.2% to $3.38.

Gross margin declined to 12.4% in the fourth quarter and 12.6% for the full year, reflecting continued cost pressures and operating challenges.

The company’s North American Towable and Motorized segments experienced double-digit declines in fourth-quarter sales and margin performance.

The Motorized segment reported a pretax loss during the period.

THOR’s European segment showed relative resilience, with fourth-quarter sales increasing 5.0%.

The segment maintained more stable margins, while backlog increased 8.4%.

During fiscal 2026, THOR reduced debt by $59.7 million and repurchased $115.1 million of shares.

The company also incurred restructuring expenses, particularly in Europe, as part of broader strategic initiatives aimed at improving efficiency.

THOR expects these initiatives to generate more than $100 million in annual cost savings once fully implemented.

The company said it plans to provide fiscal 2027 guidance later in the fall.