Thor Industries, Inc. · NYSE:THO
Thor Industries — Q4 FY2026 Earnings Presentation
21 slides from Thor Industries's earnings presentation, Sep 22, 2026
Slide 1: Fourth Quarter Fiscal 2026 Financial Results
1 F O U R T H Q U A R T E R · F I S C A L 2 0 2 6 Financial Results Quarter ended July 31, 2026
Slide 2: Forward-Looking Statements
2 Forward-Looking Statements This presentation includes certain statements that are “forward-looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1
Slide 3: THOR Consolidated Net Sales
3 $888.7M $557.4M $923.1M $154.6M T H O R C O N S O L I D A T E D N E T S A L E S The world’s largest RV manufacturer Together, the THOR family of companies represents the world’s largest manufacturer of recreational vehicles. We offer a comprehensive range of RVs to inspire and empower everyone to
Slide 4: QFY Financial Highlights
4 4 Q F Y 2 0 2 6 F I N A N C I A L H I G H L I G H T S THOR’s results reflect continued operational execution within a challenging retail and material cost environment European resilience and beneficial geographic diversification European top-line results indicate resilient demand for their product
Slide 5: North American Towable · QFY26
5 N O R T H A M E R I C A N T O W A B L E · 4 Q F Y 2 0 2 6 +74.6% (2) KEY DRIVERS North American Towable segment net sales decreased 22.7% on a 19.7% decline in unit shipments, continuing to be influenced by a challenging retail environment and cautious independent dealer ordering patterns. The gro
Slide 6: North American Motorized · QFY26
6 N O R T H A M E R I C A N M O T O R I Z E D · 4 Q F Y 2 0 2 6 (1) In units. (2) As compared to the fiscal quarter ended July 31, 2025. (4) For the three months ended. (27.5)% (2) KEY DRIVERS North American Motorized segment net sales decreased 10.4%, driven by a 13.1% reduction in unit shipments a
Slide 7: European Segment · QFY26
7 E U R O P E A N S E G M E N T · 4 Q F Y 2 0 2 6 (1) In units. (2) As compared to the fiscal quarter ended July 31, 2025. (4) For the three months ended. +8.4% (2) KEY DRIVERS European segment net sales increased 5.0% on a 3.9% rise in unit shipments and a 1.1% increase in the overall price per uni
Slide 8: THOR Full Year Summary · Fiscal 2026
8 T H O R F U L L Y E A R S U M M A R Y · F I S C A L 2 0 2 6 (1) In units. (2) As compared to the fiscal year ended July 31, 2025. CONSOLIDATED NET SALES GROSS PROFIT MARGIN SHIPMENTS (1) $9.61B 12.6% 159,956 0.3% (2) (140) bps (2) (11.8)% (2) NORTH AMERICAN TOWABLE NET SALES GROSS PROFIT MARGIN SH
Slide 9: Liquidity · Leverage · Cash Flow
9 L I Q U I D I T Y · L E V E R A G E · C A S H F L O W Strong liquidity and a low leverage ratio position THOR to seize upon opportunities TOTAL LIQUIDITY ( 1 ) $1.30B As of 7/31/26 vs. $1.43B as of 7/31/25 LEVERAGE RATIOS ( 2 ) OUTSTANDING DEBT (3 ) $875.8M As of 7/31/26 vs. $933.8M as of 7/31/25
Slide 10: Capital Management Priorities and Fiscal 2026 Actions
10 C A P I T A L M A N A G E M E N T · P R I O R I T I E S A N D F I S C A L 2 0 2 6 A C T I O N S Invest in our businesses $152.4M Capital expenditures during fiscal 2026. Quarterly dividend (1) $0.52 Regular quarterly dividend increased in October 2025 — the 16th consecutive year of increases. Red
Slide 11: Strategic Evolution of THOR's North American RV Operating Model
11 S T R A T E G I C E V O L U T I O N O F T H O R ’ S N O R T H A M E R I C A N R V O P E R A T I N G M O D E L Overview, status and long-term benefits OVERVIEW & STATUS Unified North American RV Operating Group North American RV companies will operate under unified group leadership; amplifying and
Slide 12: Appendix: Non-GAAP reconciliations · Industry and market data
12 Appendix Non-GAAP reconciliations · Industry and market data
Slide 13: Quarterly EBITDA & Adjusted EBITDA Reconciliations · THOR Consolidated
13 Q U A R T E R L Y E B I T D A & A D J U S T E D E B I T D A R E C O N C I L I A T I O N S · T H O R C O N S O L I D A T E D TTM & fiscal quarters EBITDA and Adjusted EBITDA are non-GAAP performance measures included to illustrate and improve comparability of the Company's results from period to p
Slide 14: Quarterly EBITDA Reconciliations by Segment
14 Q U A R T E R L Y E B I T D A R E C O N C I L I A T I O N S · B Y S E G M E N T TTM & fiscal quarters EBITDA is a non-GAAP performance measure included to illustrate and improve comparability of the Company’s results from period to period. EBITDA is defined as net income before net interest expen
Slide 15: The THOR Family of Brands
15 T H E T H O R F A M I L Y O F B R A N D S We consist of a trusted family of brands that are loved by RV consumers NORTH AMERICAN RV BRANDS EUROPEAN RV BRANDS AND SERVICES OWNED SUPPLIERS
Slide 16: THOR · The Global RV Industry Leader
16 T H O R · T H E G L O B A L R V I N D U S T R Y L E A D E R Category leadership across North America and Europe R E T A I L M A R K E T S H A R E ( 1 ) NORTH AMERICAN (2 ) · TRAVEL TRAILERS 36.8% Market position #2 NORTH AMERICAN (2 ) · FIFTH WHEELS 36.9% Market position #1 51.6% Market position
Slide 17: RV Industry Overview · North America Wholesale Market Trends
17 55.4 28.4 13.2 25.2 24.8 28.2 38.3 44.0 47.3 54.7 62.6 57.6 46.6 40.8 56.2 58.4 45.9 34.9 36.0 36.6 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 298.1 208.6 152.4 217.1 227.6 257.6 282.8 312.8 326.9 376.0 442.0 426.1 359.4 389.6 544.0 434.9 2
Slide 18: RV Industry Overview · North American Retail Market Share
18 R V I N D U S T R Y O V E R V I E W · N O R T H A M E R I C A N R E T A I L M A R K E T S H A R E ( 1 ) Six months ended June 30, 2026 and 2025 TOWABLE 2026 INDUSTRY TOTAL 141,177 UNITS (2025: 167,010) 0% 25% 50% Six months ended June 30, 2026 / 2025 Forest River 39.2%/ 38.1% THOR Industries 36.1
Slide 19: RV Industry Overview · European Retail Market Share
19 R V I N D U S T R Y O V E R V I E W · E U R O P E A N R E T A I L M A R K E T S H A R E ( 1 ) Six months ended June 30, 2026 and 2025 CARAVANS 2026 INDUSTRY TOTAL 25,317 UNITS (2025: 24,909) 0% 25% 50% Six months ended June 30, 2026 / 2025 Hobby 34.4%/ 34.9% Knaus Tabbert 24.9%/ 22.7% Erwin Hymer
Slide 20: Additional Metrics: Backlog and Independent Dealer Inventory
20 A D D I T I O N A L M E T R I C S Backlog and independent dealer inventory (1) As compared to July 31, 2025. $3,055,226 $3,298,760 $525,014 $916,584 $1,004,620 $728,206 $1,525,592 $1,653,970 NA Towable NA Motorized European 7/31/25 7/31/26 87,500 75,000 73,300 64,000 Inventory Units 7/31/23 7/31/
Slide 21: THOR Investor Relations Contact
21 T H O R I N V E S T O R R E L A T I O N S C O N T A C T Daniel Martin Director of Investor Relations & International Finance investors@thorindustries.com (574) 970-7460