Filing Flows › Thor Industries (THO) › Q3 FY26 › vs Q2 FY26
Thor Industries (THO) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Thor Industries's revenue rose $656M (+31%) from $2.1B in Q2 FY26 to $2.8B in Q3 FY26. Gross margin 12.8% against 11.8% (+0.9 pts).
Thor Industries, Q3 FY26: revenue $2.8B (-4% year over year), operating margin 4.8%, net earnings $97.2M, operating cash flow $234M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 12.8% | 11.8% | +0.9 pts |
| Operating margin | 4.8% | 1.0% | +3.8 pts |
| Net margin | 3.5% | 0.8% | +2.7 pts |
| Free cash flow margin | 7.0% | -6.8% | +13.9 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $2.8B | $2.1B | $656M | +31% |
| Gross profit | $355M | $251M | $104M | +41% |
| Cost of revenue | $2.4B | $1.9B | $552M | +29% |
| Operating profit | $133M | $21.0M | $112M | +536% |
| Operating expenses | $221M | $230M | −$9.0M | -4% |
| Pre-tax earnings | $133M | $21.0M | $112M | +536% |
| Loss borne by minority interests | $1.7M | $3.2M | −$1.5M | -47% |
| Net earnings | $97.2M | $17.8M | $79.4M | +446% |
| Income tax | $37.9M | $6.4M | $31.6M | +497% |
| Depreciation & amortization | $66.0M | $64.9M | $1.1M | +2% |
| Share-based compensation | $6.7M | $7.9M | −$1.2M | -16% |
| Working capital & other | $64.3M | −$203M | $267M | — |
| Operating cash flow | $234M | −$112M | $346M | — |
| Free cash flow (OCF − capex) | $196M | −$145M | $341M | — |
| Capital expenditures | $38.1M | $33.0M | $5.2M | +16% |
Questions
How much did Thor Industries's revenue grow quarter over quarter in Q3 FY26?
Thor Industries's revenue rose $656M (+31%) from $2.1B in Q2 FY26 to $2.8B in Q3 FY26. Gross margin 12.8% against 11.8% (+0.9 pts).