Thor Industries Inc (THO) saw its shares drop sharply by 5.31% during intraday trading on Wednesday, despite reporting better-than-expected fiscal Q1 results. The company posted net income of $21.7 million, significantly above estimates, and revenue of $2.39 billion, beating expectations.

However, the stock's decline appears to be driven by broader concerns about consumer confidence. Thor Industries highlighted that ongoing government shutdowns and constant tariff headlines have weighed heavily on consumer sentiment, overshadowing the positive earnings report. The company also provided a cautious outlook, expecting fiscal 2026 net sales to range between $9.0 billion and $9.5 billion.