By Nicholas G. Miller

Thor Industries maintained its fiscal-year outlook, warning that a cloudy consumer outlook driven by geopolitical and economic uncertainty could impact its results.

"Recent events have muddied the consumer outlook and added additional uncertainties for consumers," the recreational-vehicle maker said.

The stock fell 5.5% to $90.48 and is down 12% so far this year.

Thor said President Trump's new tariff measures following the Supreme Court's decision to strike down his previous tariffs have introduced uncertainty. Additionally, it said the latest producer price index "has revived concerns about inflation, casting doubt on both the size and timing of any upcoming interest rate reductions."

Meanwhile, the recent conflict in the Middle East could also weigh on consumer sentiment, Thor said.

Those sources of uncertainty could counteract positive signs the economy was previously showing and have made projecting the rest of the fiscal year far more difficult, the company said.

"The positive trends that we had begun to see with inflation, tariff policies and consumer sentiment now have less certain trajectories due to recently released economic metrics and the uncertain influence that the conflict in the Middle East could have on drivers of RV retail demand," Thor said.

"As we enter the spring selling season, the development of these macroeconomic forces will be evident on our financial results," the company said. "Overall, we expect that dealers will continue to prudently manage inventories until a market inflection dictates a change in course as the upcoming spring selling season gets under way."

The company reiterated its fiscal 2026 guidance for net sales of $9 billion to $9.5 billion and earnings of $3.75 to $4.25 a share. Analysts had seen fiscal-year sales of $9.64 billion and earnings of $4.25 a share.

The company posted net income of $17.8 million for the quarter, or 34 cents a share, compared with a loss of $551,000, or 1 cent a share, the year prior. Analysts polled by FactSet expected a profit of 4 cents a share.

Sales rose 5.3% to $2.13 billion. Wall Street expected $1.96 billion. North American motorized-RV sales jumped 29% to $577.1 million, helping to offset a 14% decline to $710.5 million in North American towable-RV sales.

Write to Nicholas G. Miller at nicholas.miller@wsj.com.

(END) Dow Jones Newswires

March 03, 2026 12:59 ET (17:59 GMT)

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