THOR Industries misses on profit even as revenue tops estimates
Fourth-quarter revenue reached $2.31B against a $2.20B forecast, while earnings fell short at $0.78 a share
Published
THOR Industries reported fiscal fourth-quarter earnings of $0.78 a share on a GAAP basis, missing estimates by $0.14. Revenue came in at $2.31B, ahead of the $2.20B analysts had expected.
Bob Martin, President and CEO, said fiscal 2026 earnings lagged sales growth as affordability concerns and rising material costs pressured gross margins, prompting restructuring actions meant to protect consumer price points.
The company bought back $34.3 million of shares in the quarter, bringing full-year repurchases to $115.1 million. It expects its restructuring and other strategic initiatives to cut costs and improve its earnings profile by more than $100 million a year once fully implemented, with fiscal 2027 guidance due later this fall.
The miss confirms a trend THOR itself flagged in fiscal 2025, when it linked weak margins to affordability pressure and cut towable pricing to compensate. Revenue held up this quarter, but the margin shortfall and the new restructuring suggest the affordability problem runs deeper than pricing adjustments alone can fix, leaving the outlook cautious heading into fiscal 2027 guidance.