THOR Industries reported a stronger-than-expected performance for its fiscal 2025 third quarter, ending April 30. The company posted $2.89 billion in consolidated net sales, up 3.3% from the same quarter last year.
Net income attributable to THOR reached $135.2 million, or $2.53 per diluted share, compared to $114.5 million and $2.13 per diluted share a year earlier.
Consolidated gross profit margin rose to 15.3%, a 20-basis-point increase year-over-year. The company’s North American Towable segment led the improvement, contributing a 200-basis-point gain in gross profit margin over the prior year’s third quarter.
“Our third quarter results exceeded our expectations on both the top and bottom lines,” Bob Martin, president and CEO of THOR Industries, said in a press release.
“The successful execution of key strategic initiatives, in particular placing further emphasis on driving down our cost profile, led to improved margins in an environment where we saw modest year-over-year top-line improvement,” Martin added.
The quarter also saw EBITDA and adjusted EBITDA reach $233.0 million and $254.8 million, respectively, compared to $232.3 million and $236.1 million in the same period last year.
THOR reaffirmed its full-year fiscal 2025 guidance. The company expects consolidated net sales to range from $9.0 billion to $9.5 billion, with diluted earnings per share projected between $3.30 and $4.00. Consolidated gross profit margin is forecasted between 13.8% and 14.5%.
“Key strategic initiatives have driven important recent wins for our brands, and we are confident that we are well-positioned to return to share gains over the longer term,” said Todd Woelfer, senior vice president and chief operating officer.
“Our fiscal third quarter results benefited from the continued execution of our strategies, and the management and production teams at our operating companies performed incredibly well,” Woelfer added.
During the third quarter, THOR announced an organizational restructuring aimed at aligning its business with current economic realities.
While acknowledging industry-wide challenges ahead, THOR leadership expressed confidence in the company’s long-term strategy.
“While the current level of uncertainty is unprecedented, and we believe the next two fiscal quarters will be challenging for the RV industry as a whole, we are very pleased that our efforts are starting to move the needle,” Martin said.