Thor Industries Inc

Thor Industries, the recreational vehicle producer, provided a quarterly update. Management commented that it had seen indications of rising dealer optimism and strengthening consumer confidence late last year and early this year. However, by mid March it reported that confidence had declined to such an extent that it expects will impact its full year results (to July 2025). The revised guidance was down around 20% at the EPS level. We are again talking about a cyclical business, with a longer downturn than expected, which clearly disappointed the market. Adding to the uncertainty are the looming tariff implications, as some of Thor’s domestic production uses imported chassis, and some domestic suppliers may pass through price increases.

Thor Industries, the recreational vehicle producer, provided a quarterly update. Management commented that it had seen indications of rising dealer optimism and strengthening consumer confidence late last year and early this year. However, by mid March it reported that confidence had declined to such an extent that it expects will impact its full year results (to July 2025). The revised guidance was down around 20% at the EPS level. We are again talking about a cyclical business, with a longer downturn than expected, which clearly disappointed the market. Adding to the uncertainty are the looming tariff implications, as some of Thor’s domestic production uses imported chassis, and some domestic suppliers may pass through price increases.

Thor Industries, the recreational vehicle producer, provided a quarterly update. Management commented that it had seen indications of rising dealer optimism and strengthening consumer confidence late last year and early this year. However, by mid March it reported that confidence had declined to such an extent that it expects will impact its full year results (to July 2025). The revised guidance was down around 20% at the EPS level. We are again talking about a cyclical business, with a longer downturn than expected, which clearly disappointed the market. Adding to the uncertainty are the looming tariff implications, as some of Thor’s domestic production uses imported chassis, and some domestic suppliers may pass through price increases.