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THOR posts fiscal Q2 EPS of 4 cents, topping estimates as revenues rise 5.3% to $2.13B.
THOR's Motorized RV sales jump 29.3%, while Towable RV revenues fall 14.2%.
THOR guides FY26 sales at $9-$9.5B and EPS of $3.75-$4.25, below FY25 results.
THOR Industries, Inc. (THO - Free Report) reported earnings of 4 cents per share for the second quarter of fiscal 2026 (ended Jan. 31), beating the Zacks Consensus Estimate of 3 cents. In the year-ago quarter, the company posted a loss of 1 cent per share.
THOR registered revenues of $2.13 billion for the fiscal second quarter, surpassing the Zacks Consensus Estimate of $1.98 billion. The top line increased 5.3% year over year.
Thor Industries, Inc. Price, Consensus and EPS Surprise
North American Towable RVs: Segment revenues declined 14.2% year over year to $710.49 million due to a drop in unit shipments. The revenues missed our estimate of $719.2 million. Unit shipments in the quarter under review totaled 21,577, down from 28,013 units in the year-ago period.
Gross profit totaled $75.5 million, down 17.6% year over year due to higher material and overhead costs. Pretax income increased to $31.2 million from $28.2 million in the prior-year quarter, thanks to higher gains on asset sales. The unit’s backlog stood at $621.5 million at quarter-end, compared with $1.07 billion as of Jan. 31, 2025.
North American Motorized RVs: Segment revenues totaled $577.07 million, up 29.3% year over year, driven by an increase in unit shipments. The figure also surpassed our estimate of $465.9 million. Unit shipments totaled 4,524 compared with 3,526 reported a year ago.
Gross profit totaled $54.64 million, up 57.3% year over year, driven by volume leverage and lower labor costs. Pretax profit rose sharply to $20.9 million from the year-ago period. The segment’s backlog stood at $1.04 billion, down from $1.12 billion as of Jan. 31, 2025.
European RVs: Segment revenues totaled $684.47 million, up 11.8% year over year due to an increase in unit shipments. The figure also surpassed our estimate of $599.3. Unit shipments totaled 9,465 compared with 9,442 reported a year ago.
Gross profit totaled $75.1 million, down 7.2% year over year due to a greater share of lower-margin special-edition motorcaravans and higher warranty costs. The segment reported a pretax loss of $12.3 million compared with pretax income of $2.21 million in the year-ago period. The backlog stood at $1.83 billion, up from $1.64 billion as of Jan. 31, 2025.
Financials
As of Jan. 31, 2026, THOR had cash and cash equivalents of $242.2 million and long-term debt of $877.7 million.
THOR Provides 2026 Guidance
THOR expects its fiscal 2026 consolidated net sales to be in the range of $9-$9.5 billion compared with $9.58 billion in fiscal 2025. EPS is expected to be in the range of $3.75-$4.25 compared with $4.84 in fiscal 2025.
The Zacks Consensus Estimate for RNLSY’s 2026 sales and earnings implies year-over-year growth of 14.4% and 176.3%, respectively. The EPS estimates for 2026 and 2027 have improved 34 cents and 18 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for MOD’s fiscal 2026 sales and earnings implies year-over-year growth of 21.3% and 19%, respectively. The EPS estimate for fiscal 2026 and 2027 has improved 19 cents and 80 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for STRT’s fiscal 2026 sales and earnings implies year-over-year growth of 2.1% and 16.2%, respectively. The EPS estimate for fiscal 2026 and fiscal 2027 has improved 85 cents and 48 cents, respectively, in the past 30 days.
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THO Q2 Earnings Surpass Expectations, Revenues Rise Y/Y
Key Takeaways
THOR Industries, Inc. (THO - Free Report) reported earnings of 4 cents per share for the second quarter of fiscal 2026 (ended Jan. 31), beating the Zacks Consensus Estimate of 3 cents. In the year-ago quarter, the company posted a loss of 1 cent per share.
THOR registered revenues of $2.13 billion for the fiscal second quarter, surpassing the Zacks Consensus Estimate of $1.98 billion. The top line increased 5.3% year over year.
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: Segment revenues declined 14.2% year over year to $710.49 million due to a drop in unit shipments. The revenues missed our estimate of $719.2 million. Unit shipments in the quarter under review totaled 21,577, down from 28,013 units in the year-ago period.
Gross profit totaled $75.5 million, down 17.6% year over year due to higher material and overhead costs. Pretax income increased to $31.2 million from $28.2 million in the prior-year quarter, thanks to higher gains on asset sales. The unit’s backlog stood at $621.5 million at quarter-end, compared with $1.07 billion as of Jan. 31, 2025.
North American Motorized RVs: Segment revenues totaled $577.07 million, up 29.3% year over year, driven by an increase in unit shipments. The figure also surpassed our estimate of $465.9 million. Unit shipments totaled 4,524 compared with 3,526 reported a year ago.
Gross profit totaled $54.64 million, up 57.3% year over year, driven by volume leverage and lower labor costs. Pretax profit rose sharply to $20.9 million from the year-ago period. The segment’s backlog stood at $1.04 billion, down from $1.12 billion as of Jan. 31, 2025.
European RVs: Segment revenues totaled $684.47 million, up 11.8% year over year due to an increase in unit shipments. The figure also surpassed our estimate of $599.3. Unit shipments totaled 9,465 compared with 9,442 reported a year ago.
Gross profit totaled $75.1 million, down 7.2% year over year due to a greater share of lower-margin special-edition motorcaravans and higher warranty costs. The segment reported a pretax loss of $12.3 million compared with pretax income of $2.21 million in the year-ago period. The backlog stood at $1.83 billion, up from $1.64 billion as of Jan. 31, 2025.
Financials
As of Jan. 31, 2026, THOR had cash and cash equivalents of $242.2 million and long-term debt of $877.7 million.
THOR Provides 2026 Guidance
THOR expects its fiscal 2026 consolidated net sales to be in the range of $9-$9.5 billion compared with $9.58 billion in fiscal 2025. EPS is expected to be in the range of $3.75-$4.25 compared with $4.84 in fiscal 2025.
THO Zacks Rank & Key Picks
THOR has a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the auto space are RENAULT (RNLSY - Free Report) , Modine Manufacturing (MOD - Free Report) and Strattec Security (STRT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RNLSY’s 2026 sales and earnings implies year-over-year growth of 14.4% and 176.3%, respectively. The EPS estimates for 2026 and 2027 have improved 34 cents and 18 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for MOD’s fiscal 2026 sales and earnings implies year-over-year growth of 21.3% and 19%, respectively. The EPS estimate for fiscal 2026 and 2027 has improved 19 cents and 80 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for STRT’s fiscal 2026 sales and earnings implies year-over-year growth of 2.1% and 16.2%, respectively. The EPS estimate for fiscal 2026 and fiscal 2027 has improved 85 cents and 48 cents, respectively, in the past 30 days.