Filing Flows › Thor Industries (THO) › Q1 FY26
Thor Industries (THO) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Dec 3, 2025
Thor Industries (THO) reported revenue of $2.4B for the first quarter fiscal 2026 (Q1 FY26), +11% from a year earlier and -5% from the quarter before. Operating margin was 1.4%, net earnings $23.2M (1.0% of revenue).
Thor Industries, Q1 FY26: revenue $2.4B (+12% year over year), operating margin 1.4%, net earnings $23.2M, operating cash flow −$44.9M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | -5% | +11% |
| Gross profit | $321M | -13% | +14% |
| Operating profit | $32.5M | -77% | — |
| Net earnings | $23.2M | -82% | — |
| Operating cash flow | −$44.9M | -117% | — |
What changed
Revenue was $2.4B in Q1 FY26, up 11% year over year and down 5% from the previous quarter.
Gross margin was 13.4%, up 0.3 points from a year earlier. Operating profit was $0.03B, a 1.4% margin (up 1.4 points year over year). Operating expenses grew 2% against revenue growth of 11%. Net earnings were $0.02B. The effective tax rate was 28.7%.
Operating cash flow was −$0.04B. Non-cash charges added back $0.07B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.15B. Capital expenditures of $0.03B exceeded it, leaving free cash flow of −$0.08B.
Questions
What was Thor Industries' revenue in the first quarter fiscal 2026?
Thor Industries (THO) reported revenue of $2.4B for the first quarter fiscal 2026 (Q1 FY26), +11% from a year earlier and -5% from the quarter before.
Was Thor Industries profitable in the first quarter fiscal 2026?
Operating profit was $32.5M (1.4% of revenue) and net earnings $23.2M.
Source: Thor Industries 10-Q on SEC EDGAR.