Thor Industries reports lowest annual profit since 2019

Thor Industries reported its most challenging fiscal year since 2019, despite a slight increase in annual net sales to $9.61 billion. While sales rose 0.3% for the full fiscal year 2026, profits fell 31.3% to $177.5 million. The company noted that the retail market failed to reach the expected inflection point due to high interest rates, fuel costs, and inflationary pressures affecting household budgets.

CEO Bob Martin attributed the decline in earnings to heightened affordability concerns and rising material costs, which pressured gross margins. In response, the company has implemented restructuring actions and is evolving its North American operating model to protect consumer price points, even at the cost of near-term margins.

Despite the profit decline, Thor Industries focused on market share gains, particularly in the motorized segment. Thor Motor Coach increased its market share by 1.4% during the fiscal year. However, the company saw its towable market share fall to 36.1% in the first half of 2026, trailing Forest River. The company stated that some losses in the towable segment resulted from intentional brand rationalization to divest from brands with unacceptable margins.