By Nicholas G. Miller

Thor Industries swung to a first-quarter profit as a surge in motorized RV sales helped offset concerns about cautious consumer spending.

The RV company reported net income of $21.7 million, compared with a loss of $1.8 million the year before. On a per-share basis, earnings were 41 cents a share, compared with a loss of 3 cents a share the year before. Analysts expected a loss of 7 cents a share, according to FactSet.

Net sales rose 12% to $2.39 billion, fueled by 31% sales growth in North American motorized RVs. Wall Street expected $2.05 billion. The company said it has had success in the motorized segment targeting price points where consumer demand is currently concentrated.

Thor reiterated its fiscal 2026 net sales guidance of $9 billion to $9.5 billion and earnings of $3.75 to $4.25 a share. Analysts see fiscal year sales of $9.45 billion and earnings of $4.13 a share.

The company said dealers are still cautious about near-term consumer sentiment, but that it is well-positioned if an uptick in the market occurs. "There is no doubt that the government shutdown and constant tariff headlines have weighed on consumer confidence, but our products are dialed in and if we can get a modicum of macro stability, then I expect to see a strong show season," said Chief Executive Bob Martin.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

December 03, 2025 07:11 ET (12:11 GMT)

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