THOR Industries announced financial results for its fiscal 2025 fourth quarter and full year ended July 31.
“We are very pleased with the results that our teams delivered amidst a highly volatile macroeconomic backdrop. Our performance is a testament to their hard work and dedication that has helped us navigate a challenging environment. Our annual Open House event has just kicked off, giving us an opportunity to connect with our customers and showcase the exciting new products we have to offer. As we continue to execute our strategic plan, we remain focused on improving our operational efficiency, gaining market share and driving long-term success,” said Bob Martin, president and CEO of THOR Industries. “Having been on the road extensively the last three months meeting with many of our independent dealers, I am more confident than ever in the strength of the relationships we have developed. These relationships have been an important driver of the lot share gains that we are seeing, which has translated into stronger retail performance.”
Todd Woelfer, senior vice president and chief operating officer, said, “We are excited about the opportunities that we have in front of us, including the ability to further leverage data to monitor and respond to retail demand in real time, the creation of a best-in-class marketplace for RV parts, the generation of sustainable cost savings related to the consolidation of Heartland brands under Jayco and the completion of a comprehensive refresh of Keystone’s product portfolio amidst a backdrop of clean channel inventories.”
“Fiscal 2025 was another successful year for THOR. Despite the challenging macro environment, we were able to generate over $577.9 million of cash from operations, which we used to further invest in our business, fund returns to shareholders and reduce debt. As we enter fiscal 2026, our liquidity position provides us significant flexibility to take advantage of potential opportunities, including any stock price dislocations,” added Colleen Zuhl, senior vice president and chief financial officer.
Fiscal 2025 Fourth Quarter
- Revenue of $2.52 billion and Adjusted EBITDA of $209.5 million in the quarter. Adjusted EBITDA excludes the favorable impacts related to fixed asset sales and business interruption insurance, as well as nonrecurring costs associated with strategic reorganization initiatives
- The North American Towable and North American Motorized segments saw market share inflect in the period as strategic initiatives executed throughout the fiscal year continued to gain traction
- Dealer inventory turns improved sequentially and the channel is appropriately positioned heading into the fall
- Strategic organizational restructuring progressed during the quarter and puts THOR in a favorable position to achieve additional operating efficiencies
Fiscal Year 2025
- Generated revenue of $9.58 billion and Adjusted EBITDA of $659.1 million, which contributed to increased year-over-year cash from operations as management continues to execute on our proven operating model
- Reduced the company’s total debt obligations with payments of approximately $237.0 million made during fiscal 2025 and returned $158.8 million to shareholders in the form of dividends and stock repurchases
- Launched a strategic organizational restructuring plan to optimize the enterprise structure and strengthen the brand portfolio
