Global RV manufacturing giant Thor Industries has published the results of its fiscal 2026 first quarter, in which it says it achieved strong results and improved market share amidst a challenging backdrop.

During the period, which ended October 31, 2025, the company recorded revenue of $2.39 million, net income attributable to Thor of $21.7 million and Adjusted EBITDA of $131 million in the quarter.

It also improved its North American market share for the second consecutive fiscal quarter as retail outperformed expectations during the period. Thor also said that dealer inventory turns remain at an appropriate level heading into the winter months and that it is positioned advantageously should a market uptick occur.

Bob Martin, President and CEO of Thor Industries, said: “The quarter finished stronger than we expected, and we are excited about the impact of the actions we are taking to improve the strength of our business and control what we can control so that when the market rebounds, we will bounce back stronger than ever. Our 2025 Open House event in September was another success and represented a marked improvement versus last year, as I heard great dealer feedback on the new products on display, in particular the new Keystone Montana and Heartland Bighorn products.

“In addition, I just spent time with our customers at the RVDA Expo in Las Vegas in November and, while they have a near-term cautious tone around the state of the consumer, I have never felt more confident about the long-term health of the industry and our company.”

Thor Industries’ Senior Vice President and COO, Todd Woelfer, added: “The strong results across our North American operations were supported by key data initiatives that continue to empower our operating companies, enabling them to quickly respond to the market and meet consumer demand. At the 2025 Open House, we announced the RV Partfinder platform and received strong support from our dealer partners. Our goal is to help address a point of friction in RV ownership, and we are confident that RV Partfinder is an important piece of the answer to that long-standing issue. In North America, we benefited from the impact of a number of strategic initiatives as our Towable segment experienced improved margins on relatively flat sales while our Motorised segment and supply companies drove improvements on both the top and bottom lines.

“In Europe, Erwin Hymer Group’s (EHG) quarter was impacted by the typical August shutdown and a price-aggressive marketplace. Additionally, EHG’s results included restructuring costs that will have a long-term benefit to EHG’s operating results. From an internal expectation standpoint, EHG’s profitability aligned to plan for the quarter and we expect a similar cadence for the remainder of our fiscal year as we saw last year from EHG.”

See the full, detailed fiscal 2026 first quarter report on the Thor Industries website.