NYSE: THO
THOR INDUSTRIES INCCIK 0000730263 · SIC 3716 · Motor Homes
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THOR Industries declares $0.52 quarterly dividend, payable July 15
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THOR Industries reports Q3 FY2026 results, updates full-year guidance
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revenue $2.78B, net income $97.2M. Thor Industries faces demand downturn, tariff headwinds, and margin compression
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THOR Industries declares $0.52 quarterly dividend, payable April 20
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Latest financial statements
From 10-Q filed Jun 3, 2026 (period ending Apr 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)
(in thousands)
| Description | Three months ended April 30, 2026 | Three months ended April 30, 2025 | Nine months ended April 30, 2026 | Nine months ended April 30, 2025 |
|---|---|---|---|---|
| Net sales | 2,781,538 | 2,894,816 | 7,296,517 | 7,055,707 |
| Cost of products sold | 2,426,768 | 2,451,697 | 6,369,519 | 6,085,949 |
| Gross profit | 354,770 | 443,119 | 926,998 | 969,758 |
| Selling, general and administrative expenses | 230,929 | 238,273 | 696,980 | 684,692 |
| Amortization of intangible assets | 27,818 | 29,604 | 83,543 | 88,670 |
| Interest expense, net | 9,655 | 11,205 | 28,092 | 38,383 |
| Other income (expense), net | 47,105 | (8,457) | 68,570 | (5,189) |
| Income before income taxes | 133,473 | 155,580 | 186,953 | 152,824 |
| Income tax provision | 37,935 | 21,652 | 53,605 | 22,858 |
| Net income | 95,538 | 133,928 | 133,348 | 129,966 |
| Less: Net loss attributable to non-controlling interests | (1,691) | (1,257) | (3,353) | (2,836) |
| Net income attributable to THOR Industries, Inc. | 97,229 | 135,185 | 136,701 | 132,802 |
| Weighted-average common shares outstanding: | ||||
| Basic | 52,240,856 | 53,203,568 | 52,548,586 | 53,128,112 |
| Diluted | 52,399,684 | 53,433,493 | 52,743,174 | 53,439,096 |
| Earnings per common share: | ||||
| Basic | 1.86 | 2.54 | 2.60 | 2.50 |
| Diluted | 1.86 | 2.53 | 2.59 | 2.49 |
| Comprehensive income (loss): | ||||
| Net income | 95,538 | 133,928 | 133,348 | 129,966 |
| Other comprehensive income (loss), net of tax | ||||
| Foreign currency translation gain (loss), net of tax | (34,280) | 155,497 | 39,698 | 87,958 |
| Other income (loss), net of tax | (1) | — | 63 | — |
| Total other comprehensive income (loss), net of tax | (34,281) | 155,497 | 39,761 | 87,958 |
| Total Comprehensive income | 61,257 | 289,425 | 173,109 | 217,924 |
| Less: Comprehensive (loss) attributable to non-controlling interests | (1,325) | (1,315) | (2,941) | (6,219) |
| Comprehensive income attributable to THOR Industries, Inc. | 62,582 | 290,740 | 176,050 | 224,143 |
Condensed Consolidated Balance Sheets (Unaudited)
(Unless otherwise indicated, amounts in thousands except share and per share data.)
| Description | April 30, 2026 | July 31, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | 371,946 | 586,596 |
| Accounts receivable, trade, net | 707,046 | 541,713 |
| Accounts receivable, other, net | 172,235 | 165,650 |
| Inventories, net | 1,530,715 | 1,351,796 |
| Prepaid income taxes, expenses and other | 104,620 | 132,220 |
| Total current assets | 2,886,562 | 2,777,975 |
| Property, plant and equipment, net | 1,322,270 | 1,315,728 |
| Other assets: | ||
| Goodwill | 1,874,114 | 1,841,118 |
| Amortizable intangible assets, net | 682,107 | 758,758 |
| Deferred income tax assets, net | 17,774 | 35,668 |
| Equity investments | 143,353 | 136,784 |
| Other | 228,595 | 199,253 |
| Total other assets | 2,945,943 | 2,971,581 |
| TOTAL ASSETS | 7,154,775 | 7,065,284 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | 863,804 | 738,143 |
| Current portion of long-term debt | 2,867 | 3,367 |
| Short-term financial obligations | 67,370 | 60,112 |
| Accrued liabilities: | ||
| Compensation and related items | 166,462 | 178,259 |
| Product warranties | 281,627 | 291,130 |
| Income and other taxes | 50,067 | 59,392 |
| Promotions and rebates | 170,943 | 162,477 |
| Product, property and related liabilities | 23,675 | 18,634 |
| Other | 64,232 | 73,182 |
| Total current liabilities | 1,691,047 | 1,584,696 |
| Long-term debt, net | 871,444 | 919,612 |
| Deferred income tax liabilities, net | 46,517 | 54,404 |
| Unrecognized tax benefits | 12,300 | 12,175 |
| Other liabilities | 220,992 | 204,845 |
| Total long-term liabilities | 1,151,253 | 1,191,036 |
| Contingent liabilities and commitments | ||
| Stockholders’ equity: | ||
| Preferred stock authorized 1,000,000 shares; none outstanding | — | — |
| Common stock par value of $.10 per share; authorized 250,000,000 shares; issued 67,659,100 and 67,282,807 shares, respectively | 6,766 | 6,728 |
| Additional paid-in capital | 633,576 | 608,481 |
| Retained earnings | 4,461,968 | 4,407,163 |
| Accumulated other comprehensive income, net of tax | 49,739 | 10,390 |
| Less: Treasury shares of 15,601,727 and 14,649,597, respectively, at cost | (837,687) | (744,264) |
| Stockholders’ equity attributable to THOR Industries, Inc. | 4,314,362 | 4,288,498 |
| Non-controlling interests | (1,887) | 1,054 |
| Total stockholders’ equity | 4,312,475 | 4,289,552 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | 7,154,775 | 7,065,284 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(in thousands)
| Description | Nine months ended April 30, 2026 | Nine months ended April 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | 133,348 | 129,966 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation | 113,320 | 111,158 |
| Amortization of intangible assets | 83,543 | 88,670 |
| Amortization of debt issuance costs | 3,113 | 4,847 |
| Deferred income tax expense (benefit) | 10,087 | (5,830) |
| Gain on disposition of property, plant and equipment | (36,606) | (1,797) |
| Stock-based compensation expense | 25,599 | 26,798 |
| Changes in assets and liabilities: | ||
| Accounts receivable | (165,833) | (144,989) |
| Inventories | (172,203) | 21,950 |
| Prepaid income taxes, expenses and other | (25,505) | (19,827) |
| Accounts payable | 113,456 | 146,050 |
| Accrued liabilities and other | (16,859) | (43,989) |
| Long-term liabilities and other | 11,586 | 6,242 |
| Net cash provided by operating activities | 77,046 | 319,249 |
| Cash flows from investing activities: | ||
| Purchases of property, plant and equipment | (98,136) | (85,050) |
| Proceeds from dispositions of property, plant and equipment | 65,875 | 22,093 |
| Business acquisitions, net of cash acquired | (9,250) | — |
| Other | (19,726) | (4,385) |
| Net cash used in investing activities | (61,237) | (67,342) |
| Cash flows from financing activities: | ||
| Payments on term-loan credit facilities | (56,264) | (110,000) |
| Borrowings on revolving asset-based credit facilities | 23,216 | — |
| Payments on revolving asset-based credit facilities | (23,174) | — |
| Payments on other debt | (2,719) | (29,167) |
| Cash dividends paid | (81,896) | (79,755) |
| Payments on finance lease obligations | (713) | (629) |
| Purchases of treasury shares | (80,780) | (1,725) |
| Payments related to vesting of stock-based awards | (12,643) | (14,300) |
| Short-term financial obligations and other, net | 5,900 | (8,514) |
| Net cash used in financing activities | (229,073) | (244,090) |
| Effect of exchange rate changes on cash and cash equivalents | (1,386) | (812) |
| Net increase (decrease) in cash and cash equivalents | (214,650) | 7,005 |
| Cash and cash equivalents, beginning of period | 586,596 | 501,316 |
| Cash and cash equivalents, end of period | 371,946 | 508,321 |
| Supplemental cash flow information: | ||
| Income taxes paid | 62,013 | 84,768 |
| Interest paid | 38,003 | 50,679 |
| Non-cash investing transactions: | ||
| Capital expenditures in accounts payable | 6,393 | 4,898 |
Amounts as printed on the EDGAR/iXBRL face — (in thousands); (Unless otherwise indicated, amounts in thousands except share and per share data.). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗