Thor Industries(THO) - 2026 Q1 - Quarterly Results

Financial Performance - Revenue for the first quarter of fiscal 2026 was $2.39 billion, representing an 11.5% increase compared to $2.14 billion in the same period last year[1] - Net income attributable to THOR was $21.7 million, a significant recovery from a net loss of $1.8 million in the prior year[1] - Adjusted EBITDA for the quarter was $131.0 million, up 21.5% from $107.8 million year-over-year[1] - Net sales for the three months ended October 31, 2025, increased to $2,389,123, representing a growth of 11.5% compared to $2,142,784 in the same period of 2024[22] - Gross profit margin improved to 13.4% in Q1 2025, up from 13.1% in Q1 2024, with gross profit amounting to $320,974[22] - Net income attributable to THOR Industries, Inc. was $21,669 for Q1 2025, a significant recovery from a net loss of $1,832 in Q1 2024[22] - Adjusted EBITDA for Q1 2025 reached $131,005, an increase of 21.5% from $107,782 in Q1 2024[24] Market Performance - North American market share improved for the second consecutive quarter, with retail performance exceeding expectations[5] - North American Motorized RVs segment saw a 30.9% increase in net sales to $661.1 million, driven by a 32.3% rise in unit shipments[10] - European RVs net sales increased by 8.4% to $655.5 million, despite a 16.0% decline in gross profit due to higher promotional activity[11] Financial Guidance - The company expects full-year consolidated net sales to be in the range of $9.0 billion to $9.5 billion[14] - Diluted earnings per share guidance for fiscal 2026 is projected between $3.75 and $4.25[14] Operational Efficiency - The gross profit margin expanded by 30 basis points to 13.4%, reflecting strategic actions taken to streamline operations[5] - Selling, general and administrative expenses as a percentage of net sales improved to 10.6% in Q1 2025 from 11.2% in Q1 2024[22] - THOR Industries is focused on strategic initiatives to enhance operational efficiency and drive future growth[24] Asset Management - Total current assets decreased to $2,719,937 as of October 31, 2025, down from $2,777,975 as of July 31, 2025[23] - Cash and equivalents stood at $509,878 as of October 31, 2025, a decrease from $586,596 at the end of the previous quarter[23] - Long-term debt remained stable at $913,129 as of October 31, 2025, compared to $919,612 as of July 31, 2025[23] - The company reported a decrease in interest expense to $9,017 in Q1 2025, down from $15,228 in Q1 2024[22] Market Sentiment - The company is closely monitoring consumer sentiment and is prepared to adjust its outlook based on market conditions[12]