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THOR Q4 Earnings Beat Expectations, Revenues Decrease Y/Y

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Key Takeaways

  • THOR posted Q4 EPS of $2.31, beating estimates and rising from $1.68 in the prior-year quarter.
  • North American Motorized RVs revenues rose 7.8% year over year on higher shipments.
  • THOR expects fiscal 2026 sales of $9-$9.5B and EPS of $3.75-$4.25, both below fiscal 2025.

THOR Industries, Inc. (THO - Free Report) reported earnings of $2.31 per share for the fourth quarter of fiscal 2025 (ended July 31), beating the Zacks Consensus Estimate of earnings of $1.16. The company reported earnings of $1.68 per share in the corresponding quarter of fiscal 2024.

THOR registered revenues of $2.52 billion for the fiscal fourth quarter, beating the Zacks Consensus Estimate of $2.31 billion. The top line fell 0.4% year over year.

Thor Industries, Inc. Price, Consensus and EPS Surprise

Thor Industries, Inc. Price, Consensus and EPS Surprise

Thor Industries, Inc. price-consensus-eps-surprise-chart | Thor Industries, Inc. Quote

Segmental Results

North American Towable RVs: Revenues from the segment came in at $888.7 million, down 4.6% year over year due to a decline in wholesale shipments. The figure, however, beat our estimate of $825.6 million.

Gross profit totaled $118.6 million and increased 1% year over year as a result of reduced warranty and promotional expenses and cost reduction initiatives. The pretax income totaled $74.5 million, up from $50.9 million recorded in the year-ago period, primarily fueled by an improvement in gross profits. The unit’s total backlog was $525 million at the quarter's end, down from $552.4 million as of July 31, 2024.

North American Motorized RVs: Revenues from the segment totaled $557.4 million, which grew 7.8% year over year due to an increase in unit shipments. The figure also surpassed our estimate of $504 million.

Gross profit totaled $62.9 million, down 4.7% year over year due to aggressive promotional activity. Pretax profit came in at $39 million, up 31.1% from the year-ago period. The segment’s backlog was $1,004 million, up from $776.9 million as of July 31, 2024.

European RVs: Revenues from the segment came in at $923 million, down 2.2% from the year-ago period due to a decline in unit shipments. The figure, however, beat our estimate of $856.3 million.

Gross profit of $143.9 million fell 18.3% year over year. The segment reported a pretax income of $51.9 million, lower than the year-ago pretax income of $87.1 million. The backlog of the segment was $1.52 billion, which declined from $1.95 billion recorded as of July 31, 2024.

Financials

As of July 31, 2025, THOR had cash and cash equivalents of $586.6 million and long-term debt of $919.6 million.

The company reported an operating cash inflow of $258.7 million compared with $338 million reported in the corresponding quarter of 2024.

THOR Provides Fiscal 2026 Guidance

THOR projects its fiscal 2026 consolidated net sales in the range of $9-$9.5 billion, compared to $9.6 billion in fiscal 2025. EPS is expected to be in the range of $3.75-$4.25 compared to $4.84 in fiscal 2025.

Earning Releases of Other Auto Stocks

AutoZone Inc. (AZO - Free Report) fourth-quarter fiscal 2025 (ended Aug. 30, 2025) results on Sept. 23. It reported earnings of $48.71 per share, which missed the Zacks Consensus Estimate of $50.52. The company had reported earnings of $48.11 per share in the corresponding quarter of fiscal 2024. Net sales grew 0.6% year over year to $6.24 billion and topped the Zacks Consensus Estimate of $6.22 billion.

Advance Auto Parts (AAP - Free Report) reported second-quarter 2025 results on Aug. 14. It reported adjusted earnings of 69 cents per share for the second quarter of 2025, beating the Zacks Consensus Estimate of 59 cents. The company reported adjusted earnings of 75 cents per share in the year-ago quarter. Advance Auto generated net revenues of $2.01 billion, which beat the Zacks Consensus Estimate of $1.98 billion. Comparable store sales increased 0.1% year over year. We expected a rise of 0.2% for the same. The top line decreased from $2.68 billion generated in the year-ago quarter.

O’Reilly Automotive (ORLY - Free Report) reported second-quarter 2025 results on July 23. It reported second-quarter 2025 adjusted earnings per share (EPS) of 78 cents, which marginally beat the Zacks Consensus Estimate of 77 cents. The bottom line also increased from 70 cents in the prior-year quarter. The automotive parts retailer registered quarterly revenues of $4,525 million, missing the Zacks Consensus Estimate of $4,532 million. The top line, however, increased 6% year over year. During the quarter, comparable store sales grew 4.1%.

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