Thor Industries is heading into its fiscal fourth-quarter earnings report with analysts sending mixed signals about the RV maker’s prospects. Softer retail demand and shipment trends have prompted BMO Capital to cut its expectations, while another earnings model points to the possibility of an EPS beat. Investors will get the actual numbers on September 22, when the company reports results for the quarter ended in July.
Earnings estimates diverge
Wall Street expects Thor Industries to report quarterly earnings of $0.95 per share, representing a 58.9% decline from a year earlier. Revenue is projected at $2.15 billion, down 14.7% year over year.
Recent estimate revisions offer a more positive signal, with the consensus EPS forecast rising 0.88% over the past 30 days. Zacks gives Thor an Earnings ESP of +5.94% because its Most Accurate Estimate sits above the broader consensus, while the stock carries a Zacks Rank of #2.
Past results have been relatively strong against expectations, as Thor beat consensus EPS estimates in three of the previous four quarters. Last quarter was the exception, when earnings reached $1.86 per share against expectations of $1.88.
BMO turns cautious
BMO Capital has taken a more conservative view ahead of the results, cutting its Thor price target from $110 to $95 while maintaining an Outperform rating. Its revised forecasts sit below consensus and reflect weaker retail and shipment trends across the recreational vehicle industry.
Shares have also struggled following an earlier rally, with the stock down around 27% year to date and recently trading near its 52-week low. Despite that weakness, BMO believes current levels offer a favorable risk-reward profile as investor sentiment remains negative.
DA Davidson has also reduced its price target from $100 to $80 while retaining a Neutral rating. That adjustment followed Thor’s fiscal third-quarter earnings miss and reduced full-year 2026 guidance, which the company attributed to continuing macroeconomic and geopolitical pressures affecting retail demand.
