"Diluted EPS of $0.34 versus the $0.04 consensus estimate reflects a ~750% surprise. In Q2 FY2025, diluted EPS was $(0.01), making this a clear year-over-year profitability improvement."
"Revenue growth was driven by North American Motorized (+29.3%) and European (+11.8%) segments, partially offset by a 14.2% decline in North American Towables. Revenue returned to growth and profitability rebounded meaningfully, with diluted EPS swinging from a small loss to $0.34."
"Six-month operating cash flow was negative $157.1M versus positive $61.6M last year, primarily due to working capital changes including inventory increases. Cash declined to $242.2M from $586.6M at July 31, 2025."
THOR Industries delivered a significant earnings beat in Q2 FY2026 with diluted EPS of $0.34 against a $0.04 consensus estimate, representing approximately 750% surprise. Net sales reached $2.126 billion, up 5.3% year-over-year from $2.018 billion. Revenue growth was driven by North American Motorized segment growth of 29.3% and European segment growth of 11.8%, partially offset by a 14.2% decline in North American Towables. Gross margin compressed slightly to 11.8% from 12.1%, reflecting product mix shifts and European pressure. Operating cash flow for the first six months turned negative at $157.1 million versus positive $61.6 million previously, primarily due to working capital changes and inventory increases. Cash reserves declined to $242.2 million from $586.6 million.
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