THOR Industries, Inc., the largest manufacturer of recreational vehicles (RVs) globally, reported a modest increase in consolidated net sales for the fiscal year ending July 31, 2026, totaling $9.608 billion, up 0.3% from $9.579 billion in the previous year. The company's North American Towable segment saw a significant decline in sales, dropping 16.1% to $3.177 billion, while the North American Motorized segment increased by 12.8% to $2.455 billion. European sales also rose by 9.0% to $3.297 billion, reflecting a strong performance in that market.
The fiscal year 2026 was marked by notable changes compared to the previous period. The overall gross profit decreased by 9.5% to $1.213 billion, with a gross profit margin of 12.6%, down from 14.0% in fiscal 2025. This decline was attributed to unfavorable product mix changes and increased material costs, particularly in the North American Towable and European segments. Selling, general, and administrative expenses decreased slightly by 2.1% to $903 million, primarily due to reduced incentive compensation costs.
Strategically, THOR Industries has focused on restructuring initiatives aimed at improving operational efficiencies across its segments. The company also reported a significant increase in its North American Towable backlog, which rose 74.6% to $916.6 million, driven by higher orders. Conversely, the North American Motorized backlog decreased by 27.5% to $728.2 million, reflecting a shift in consumer demand. The European backlog also increased by 8.4% to $1.654 billion, indicating a positive outlook for that market.
Operationally, THOR Industries employed approximately 19,500 full-time employees as of July 31, 2026, with a notable presence in both North America and Europe. The company continues to face challenges related to supply chain disruptions, particularly concerning chassis availability and raw material costs, which have impacted production efficiency. Despite these challenges, THOR remains optimistic about long-term growth prospects, citing sustained consumer interest in the RV lifestyle and ongoing investments in camping facilities.
Looking ahead, THOR Industries anticipates that economic factors such as inflation, interest rates, and consumer confidence will continue to influence retail demand for RVs. The company is committed to managing its costs and maintaining its market position while navigating the complexities of the current economic landscape.
About THOR INDUSTRIES INC
Thor Industries, Inc. is the world's largest manufacturer of recreational vehicles (RVs), producing a broad range of towable and motorized RVs for North American and European markets. The company sells its products through independent dealers, emphasizing innovation, quality, and brand strength. Its core business includes designing, manufacturing, and distributing RVs, parts, and accessories, supported by a global supply chain and a focus on customer experience and industry leadership.
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