THOR Industries Reports Fiscal Q2 2025 Results Amid Market Challenges

THOR Industries reported its fiscal 2025 second-quarter financial results, reflecting continued macroeconomic pressures and a measured approach to market conditions. 

The company announced consolidated net sales of $2.02 billion for the quarter ending January 31, an 8.6% decline from the $2.21 billion reported in the same period last year.

“Our second quarter results were in line with our expectations going into the quarter, and we experienced mild, but encouraging, year-over-year improvement at recent retail shows,” said Bob Martin, president and CEO of THOR Industries. 

“As the challenging economic environment persists, our actions remain focused on what we can control: the products that we offer and the relationships that we foster with dealers and retail customers,” Martin said in a press release.

THOR’s consolidated gross profit margin stood at 12.1%, a 20-basis-point decrease compared to the prior year. The company posted a net loss of $0.6 million, or $0.01 per diluted share, down from $7.2 million in net income and $0.13 per diluted share in fiscal Q2 2024.

Despite the decline, THOR emphasized its ability to generate strong cash flow, maintaining financial flexibility through its operating model. 

“Holding true to our strategy places our operating companies in an advantageous position to outperform the market when retail demand inevitably picks up,” Martin added.

Segment performance varied, with North American Towable RV net sales increasing by 13.3% year-over-year, driven by a 27.6% increase in unit shipments. 

However, the overall net price per unit declined by 14.3% due to a product mix shift favoring lower-cost travel trailers. The segment’s gross profit margin improved to 11.1%, up from 7.4% in the prior year.

North American Towable RV income before income taxes rose significantly to $28.2 million from $0.7 million in the previous year, attributed to higher sales and favorable cost management. 

Meanwhile, North American Motorized and European segments faced year-over-year gross margin declines.