RV Maker Thor Industries Posts Unexpected Loss Amid ‘Soft’ Retail Environment

Airstream parent Thor Industries (THO) posted a surprise fiscal first-quarter loss before the opening bell Wednesday, sending shares slightly lower intraday.

Revenue for the RV maker fell 14% year-over-year to $2.14 billion, below the analyst consensus compiled by Visible Alpha. The company posted a loss of $1.8 million or 3 cents per share, compared to a profit of $53.57 million or 99 cents per share a year earlier and below the $33.58 million or 64 cents per share called for by analysts. 

The loss came as the company “continued to be impacted by the soft retail and wholesale environment,” CEO Bob Martin said, adding the company will avoid increasing “independent dealer inventory levels” until market conditions improve. 

Thor reiterated its full-year revenue forecast of $9 billion to $9.8 billion and earnings per share (EPS) estimate of $4 to $5. Analysts projected $9.7 billion in revenue and EPS of $4.70 prior to the results.

Shares of Thor slid around 2% intraday Wednesday and have fallen more than 9% in 2024.