THOR Industries Reports Strong Third Quarter in Challenging Market

ELKHART, Ind. – THOR Industries Inc. (NYSE: THO) reported its financial results for the third quarter of fiscal 2025, ending April 30, showing improvement despite ongoing industry challenges.

Bob Martin, president and CEO of THOR Industries, expressed satisfaction with the results, stating, “Our third quarter results exceeded our expectations on both the top and bottom lines. The successful execution of key strategic initiatives led to improved margins in a modestly growing market.” He emphasized the company’s operational model that allows for efficiency in both upturns and downturns.

THOR’s consolidated net sales for the third quarter reached $2.89 billion, an increase of 3.3% from $2.80 billion in the same quarter of the previous fiscal year. The gross profit margin rose to 15.3%, an improvement of 20 basis points year-over-year. Furthermore, net income attributable to THOR was $135.2 million, up from $114.5 million a year earlier.

Todd Woelfer, Senior Vice President and COO, noted, “Key strategic initiatives have driven important recent wins for our brands. Our focus on aligning production with retail sales has positioned us strongly for modest retail improvement. Our North American Towable segment saw a significant boost, with a 200 basis point increase in gross profit margin compared to last year.”

Looking ahead, both executives recognized challenges in the RV industry for the upcoming quarters. Martin stated, “While uncertainty is unprecedented, we are confident that our strategies will help us navigate through it effectively and emerge stronger. Our overall approach focuses on controlled growth and prudent management amidst current market pressures.”

Colleen Zuhl, Senior Vice President and CFO, highlighted THOR’s liquidity of approximately $1.49 billion as of April 30, comprising $508.3 million in cash and nearly $985 million from its revolving credit facility. Zuhl also mentioned THOR’s commitment to controlled capital expenditures observing, “We invested approximately $85.1 million in our facilities and equipment during the third quarter. We also reduced our total indebtedness by $139.2 million this fiscal year.”

As the company prepares for what it anticipates to be a challenging fourth quarter, management assures investors of its focus on maintaining strong operational performance and strategic relationships with dealer partners.