Thor Industries said retail sales outh Industries reported its most challenging fiscal year since 2019, with profits falling 31.3% to $177.5 million in fiscal 2026. President and CEO Bob Martin cited heightened affordability concerns and increasing material costs as primary drivers of margin pressure. Despite a modest 0.3% increase in net sales, the company reported its smallest profit since fiscal 2019.

By comparison, Thor Industries recorded $1.14 billion in profits during the height of the pandemic in fiscal 2022. With the market facing headwinds, the company focused on market share gains in motorhomes, with Thor Motor Coach increasing its market share by 1.4% in fiscal 2026. However, the towable market share fell to 36.1% in the first half of 2026, down from 38.2% in the same period of 2025, primarily due to brand rationalization at Heartland and Keystone RV.

The company reported $177.5 million in profits for the fiscal year, a significant decline from pandemic highs. Despite the challenges, Thor Industries maintained its forecast of 314,000 wholesale RV shipments for the 2026 calendar year, matching the RVIA outlook from ITR Economics.

The fiscal year ended with the fourth quarter showing an 8.4% decline in net sales and a 67.5% drop in profits. Despite the declines, the company maintained its shipment forecast of 314,000 units for the 2026 calendar year.