Thor Industries(NYSE) THO

THOR Industries, Inc. builds recreational vehicles (RVs) for travelers and campers.

It helps families enjoy the outdoors with comfortable mobile rooms.

The company sells trailers and motorized campers to global customers.

Everything You Need for the Road

• European Recreational Vehicles: Motorcaravans, campervans, and caravans sold across Europe; accounted for 34.3% of net sales in fiscal year 2026.
• North American Towables: Travel trailers and fifth wheels designed to be pulled by pickup trucks; made up 33.1% of net sales in fiscal year 2026.
• North American Motorized: Self-powered motorhomes including custom-built Class A units and compact campervans; contributed 25.6% of net sales in fiscal year 2026.
• Supply Operations: Aluminum extrusions and specialized components for other recreational vehicle manufacturers; represented 10.2% of net sales in fiscal year 2026.

Strategic Steps and Efficiency Gains

• Embarked on numerous restructuring initiatives during fiscal years 2026 and 2025 to streamline operations and improve labor efficiencies.
• Increased the regular quarterly dividend payment to $0.52 per share in Oct. 2025.
• Repurchased $115.1 million in treasury shares during fiscal year 2026.
• Acquired Airxcel and Postle to expand into manufacturing specialized component parts for original equipment manufacturers and the aftermarket.

Global Network and Local Brands

Thor operates a decentralized model with independent subsidiaries like Airstream and Jayco managing their own dealer networks. The company maintains a global footprint with 2,000 dealership locations in North America and 1,100 in Europe.

A Look at the Numbers

• Consolidated net sales reached $9.6 billion in fiscal year 2026, up 0.3% year over year.
• Total order backlog rose to $3.3 billion as of July 31, 2026, up 8.0% year over year.
• Income before income taxes was $238.7 million in fiscal year 2026, down 19.4% year over year.
• Net cash provided by operating activities totaled $321.2 million for the fiscal year ended July 31, 2026.

Bottom Line

Thor has evolved from a 1980 startup into the world's largest recreational vehicle manufacturer through organic growth and acquisitions. Its broad portfolio and supply-side operations allow it to serve diverse camping and travel markets across two continents.