Curious about today's AI digest?ai-tldr.dev
Pomegra LogoPomegra

Daily Digest

BriefMarket · bearishMedium impact
Esc
THOR Industries recreational vehicles at a dealership lot
Photo: Investing.com

THOR Industries Stock Falls 32% as Q4 Earnings Show 60% Profit Drop

PR Newswire / THOR Industries2 min read6 sources

Why is THOR Industries stock down today?

THOR Industries (THO) stock has fallen 32% to $69.94 this year, near its 52-week low, as elevated mortgage rates crushed RV demand ahead of Tuesday's Q4 earnings showing a 60% profit drop.

Key numbers

Q4 FY2026 EPS (consensus est.)$0.94-60% YoY vs $2.36
Q4 FY2026 Revenue (consensus est.)$2.17B-14% YoY vs $2.52B
FY2026 Full-Year EPS Guidance$3.30–$3.80cut from $3.75–$4.25 at Q3 print
NA Towable RV Shipments (Q3 FY2026)27,045 units-25% YoY; backlog -39%
THO Stock — 52-Week Range$67.31–$122.83-31.9% YTD to $69.94
Average RV Loan Rate7.53%vs ~4–5% pre-2022

What happened

THOR Industries (THO) stock has fallen 32% to $69.94 this year, near its 52-week low, as elevated mortgage rates crushed RV demand ahead of Tuesday's Q4 earnings showing a 60% profit drop. Analysts project the company earned $0.94 per share on $2.17 billion in revenue for the fiscal quarter ended July 31, 2026 — down from $2.36 per share and $2.52 billion a year earlier, when profits were far stronger. The deterioration accelerated in THOR's fiscal third quarter, when North American towable RV shipments — the company's largest segment — fell 25% year over year and management cut the full-year profit guidance by 12%, lowering the EPS target range to $3.30–$3.80. With RV loan rates above 7.5% and household budgets stretched by two years of elevated costs, dealers cut orders sharply and THOR's towable order backlog shrank 39% during that same quarter.

Why it matters

THOR Industries is the world's largest RV maker, and a 60% year-over-year profit drop signals that higher borrowing costs have broken the aspirational-spending cycle for big-ticket consumer purchases. With RV loan rates above 7.5%, the monthly payment on a $75,000 camper has become a real stretch for many buyers who would previously have financed one. If demand stays depressed, dealer orders will keep falling, adding pressure to THOR's suppliers and the tens of thousands of workers in Elkhart, Indiana — the RV manufacturing capital of the world.

Who this affects

Marketbearish
Medium impact
Consumer discretionary stocks face renewed pressure on a weak THO earnings print.
Companybearish
High impact
THOR stock tests a 52-week low as profits fall steeply for a third straight year-over-year quarter.
Competitorsmixed
Medium impact
Winnebago faces the same rate headwinds; supplier Patrick Industries has diverged with a +49% YTD gain.
Industrybearish
Medium impact
Elevated loan rates keep RV demand frozen industry-wide, pressuring all manufacturers and dealers.

THOR Industries vs Winnebago Industries, Patrick Industries

THOR IndustriesTHO$3.64B+3.2%-31.9%19.7x
Winnebago IndustriesWGO$769M+3.0%—12.7x
Patrick IndustriesPATK$2.66B—+49% (per [4])—

As of 2026-09-21

How we got here

  1. Q4 FY2025 results: EPS $2.35 beats; THOR issues FY2026 guidance of $3.75–$4.25 EPS

  2. Q2 FY2026: EPS $0.34 beats estimate; revenue $2.13B; full-year guidance maintained

  3. Q3 FY2026: EPS $1.86, towable units −25%; FY2026 guidance cut to $3.30–$3.80 EPS

  4. Q4 FY2026 released before bell; consensus EPS $0.94 and revenue $2.17B, down 60%/14% YoY

What to watch

  • FY2027 guidance: will THOR signal RV demand recovery or extend the earnings downturn?2026-09-22
  • NA towable order backlog — down 39% in Q3; watch for dealer ordering to stabilize2026-09-22
  • RVIA Q4 2026 retail forecast update; 314K-unit shipment target at risk if rates holdQ4 2026

Educational content only. Not investment advice.

More briefsAll briefs →