THOR net income falls 31.3% to $177.5M as tariffs squeeze margins; buybacks double to $115.1M

Filed September 22, 2026 · Period ending July 31, 2026 · Compared to 10-K Sep 24, 2025 · ~1 min read

Key Changes

• high

  Net income dropped 31.3% to $177.5M, with diluted EPS down 30.2% to $3.38, as the company absorbed tariff costs to protect affordability.

  Income Statement verify on EDGAR →
• high

  North American wholesale shipments fell 20.5% and retail registrations fell 18.5% in the first half of fiscal 2026, with dealer inventory down 12.7% to about 64,000 units.

  MD&A: North America verify on EDGAR →
• high

  Share repurchases more than doubled to $115.1M, while the quarterly dividend rose to $0.52 per share.

  Cash Flow verify on EDGAR →