Description of Thor Industries Inc's Business Segments

Overview of Thor Industries, Inc.

Thor Industries, Inc. is a prominent manufacturer in the recreational vehicle (RV) industry, celebrated for its wide-ranging product offerings and services. Founded in 1980 and headquartered in Elkhart, Indiana, the company has grown to become one of the largest producers of RVs in the world. Thor operates through a variety of subsidiaries, allowing it to cover multiple market segments within the RV sector, offering a diverse portfolio that caters to a wide array of consumer preferences.

Segments of Products and Services

1. Towable Recreational Vehicles:
- Travel Trailers:
- These non-motorized units are designed to be towed by conventional vehicles. Thor produces various types of travel trailers:
- Conventional Travel Trailers: Towed using a hitch connected to the vehicle’s frame. They are designed for comfort and convenience in camping and travel settings.
- Fifth Wheel Trailers: These feature a raised portion in the front that attaches to a special hitch mounted in the bed of a pickup truck, providing superior towing stability and more spacious interiors.

- Folding Campers:
- These are lightweight, expandable trailers that provide a compact and easy-to-tow camping solution, ideal for families looking to enjoy outdoor experiences without the need for heavy towing.

- Equestrian and Specialty Towables:
- These products cater to specific markets such as horse owners and others requiring specialized configurations for outdoor and recreational activities.

2. Motorhomes:
- Class A Motorhomes:
- Built on medium-duty truck chassis, these luxury units are equipped with a wide range of amenities, allowing for full independence from utility hookups. Class A RVs are ideal for those seeking a high-end, spacious travel experience.

- Class B and C Motorhomes:
- Class B: Often referred to as camper vans, these compact motorhomes are built on standard van chassis and provide a lightweight option that is easy to drive and maneuver.
- Class C: Constructed on a truck chassis, these motorhomes typically feature a distinctive cab-over design, providing extra sleeping space while being more budget-friendly than Class A models.

3. Parts and Accessories:
- Thor Industries also engages in the manufacturing and supply of various parts and accessories related to its RVs, ensuring that customers have access to quality products for maintenance and enhancement of their vehicles.

International Operations

While Thor Industries primarily conducts its operations in the United States and Canada, the company has made strategic moves to expand its reach into international markets. These efforts include export sales to various countries, leveraging the growing popularity of RVs globally. The international operations focus on expanding the brand’s footprint by introducing products suited to diverse cultural preferences and regulatory requirements of different countries.

Thor has initiated partnerships and collaborations with foreign distributors to enhance market penetration, particularly in regions where recreational travel is gaining momentum. The companys commitment to quality and innovation has positioned it favorably to capitalize on international demand for recreational vehicles.

Conclusion

Thor Industries, Inc. has established itself as a leader in the RV manufacturing industry through a diverse portfolio encompassing a variety of motorhomes, towable vehicles, and related products. Its ability to cater to the diverse needs of consumers, combined with a focus on international expansion, places Thor in a strong position within a growing recreational vehicle market. Through continuous innovation and investment, Thor aims to meet the evolving preferences of RV enthusiasts across the globe.

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Composition of Thor Industries Inc Revenues by Segments


Total North America	57.52 %	of total Revenue
North American Towable	31.71 %	of total Revenue
North American Motorized	25.81 %	of total Revenue
European	35.51 %	of total Revenue
Other	9.95 %	of total Revenue
Intercompany eliminations	-2.96 %	of total Revenue
Travel Trailers North American Towable	19.36 %	of total Revenue
Fifth Wheels North American Towable	12.35 %	of total Revenue
Class A North American Motorized	6.71 %	of total Revenue
Class C North American Motorized	14.51 %	of total Revenue
Class B North American Motorized	4.58 %	of total Revenue
Motorcaravan European	19.55 %	of total Revenue
Campervan European	10.6 %	of total Revenue
Caravan European	1.81 %	of total Revenue
Other RV-related European	3.55 %	of total Revenue

Q3 three months ended (Apr 30 2026)
Revenues by Business Segments	Revenues (in millions $)	% (of total Revenues)
Total North America	1,599.51	57.52 %
North American Towable	881.78	31.71 %
North American Motorized	717.74	25.81 %
European	987.59	35.51 %
Other	276.81	9.95 %
Intercompany eliminations	-82.37	-2.96 %
Travel Trailers North American Towable	538.24	19.36 %
Fifth Wheels North American Towable	343.54	12.35 %
Class A North American Motorized	186.73	6.71 %
Class C North American Motorized	403.54	14.51 %
Class B North American Motorized	127.47	4.58 %
Motorcaravan European	543.76	19.55 %
Campervan European	294.63	10.6 %
Caravan European	50.43	1.81 %
Other RV-related European	98.77	3.55 %
Total	2,780.77	100 %

Q3 three months ended (Apr 30 2026)
Revenue Growth rates by Segment	Y/Y Revenue %	Q/Q Revenue %
Total North America	-12.86 %	24.23 %
North American Towable	-24.56 %	24.11 %
North American Motorized	7.66 %	24.38 %
European	11.78 %	44.28 %
Other	7.11 %	23.76 %
Intercompany eliminations	-	-
Travel Trailers North American Towable	-20.46 %	33.36 %
Fifth Wheels North American Towable	-30.2 %	11.94 %
Class A North American Motorized	6.83 %	9.9 %
Class C North American Motorized	18.5 %	35.77 %
Class B North American Motorized	-15.79 %	15.93 %
Motorcaravan European	12.92 %	38.73 %
Campervan European	16.81 %	56.5 %
Caravan European	-14.65 %	47.13 %
Other RV-related European	8.92 %	41.1 %
Total	-3.92 %	30.84 %

Q3 three months ended (Apr 30 2026)
Income by Business Segments	Income (in millions $)	% (Profit Margin)
Total	95.54	3.44 %

Q3 three months ended (Apr 30 2026)
Income Growth rates by Segment	Y/Y Income %	Q/Q Income %
Total	-28.66 %	552.54 %

Annual Report on Thor Industries Inc Divisions, Sales by Country


Total North America	62.22 %	of total Revenue
North American Towable	39.51 %	of total Revenue
North American Motorized	22.71 %	of total Revenue
European	31.57 %	of total Revenue
Other	8.97 %	of total Revenue
Intercompany eliminations	-2.76 %	of total Revenue
Fifth Wheels North American Towable	15.51 %	of total Revenue
Class A North American Motorized	6.61 %	of total Revenue
Class C North American Motorized	11.15 %	of total Revenue
Class B North American Motorized	4.95 %	of total Revenue
Motorcaravan European	17.31 %	of total Revenue
Campervan European	8.75 %	of total Revenue
Caravan European	1.86 %	of total Revenue
Other RV-related European	3.66 %	of total Revenue
United States	63.9 %	of total Revenue
Germany	20.07 %	of total Revenue
Other Europe	11.52 %	of total Revenue
Canada	4.1 %	of total Revenue
Other foreign	0.42 %	of total Revenue
Total North American	62.22 %	of total Revenue
Travel Trailers and Other North American Towable	24 %	of total Revenue

Twelve months ended 2025
THO s Annual Revenue by Geography and Business Segments	Sales (in millions $)	% (of total Sales)
Total North America	5,960.27	62.22 %
North American Towable	3,784.67	39.51 %
North American Motorized	2,175.60	22.71 %
European	3,023.96	31.57 %
Other	859.61	8.97 %
Intercompany eliminations	-264.35	-2.76 %
Fifth Wheels North American Towable	1,485.74	15.51 %
Class A North American Motorized	633.42	6.61 %
Class C North American Motorized	1,068.11	11.15 %
Class B North American Motorized	474.07	4.95 %
Motorcaravan European	1,657.92	17.31 %
Campervan European	837.81	8.75 %
Caravan European	177.75	1.86 %
Other RV-related European	350.49	3.66 %
Total	9,578.64	100 %
United States	6,120.62	63.9 %
Germany	1,922.36	20.07 %
Other Europe	1,103.11	11.52 %
Canada	392.99	4.1 %
Other foreign	40.41	0.42 %
Total North American	5,960.27	62.22 %
Travel Trailers and Other North American Towable	2,298.93	24 %

Twelve months ended 2025
THO s Annual Income by Country and Business Segments	Income (in millions $)	% (Profit Margin)
Total	256.59	2.68 %

Twelve months ended 2025
Annual Revenue and Income Growth by Country and Business Segments	% Y/Y Sales Growth	% Y/Y Income Growth
Total North America	-2.7 %	-
North American Towable	2.85 %	-
North American Motorized	-11.05 %	-
European	-10.13 %	-
Other	9.93 %	-
Intercompany eliminations	-	-
Fifth Wheels North American Towable	15.67 %	-
Class A North American Motorized	-18.46 %	-
Class C North American Motorized	-8.09 %	-
Class B North American Motorized	-6.47 %	-
Motorcaravan European	-5.12 %	-
Campervan European	-21.28 %	-
Caravan European	-24.66 %	-
Other RV-related European	10.4 %	-
Total	-4.63 %	-
United States	-1.13 %	-
Germany	-5 %	-
Other Europe	-17.87 %	-
Canada	-9.83 %	-
Other foreign	-19.7 %	-
Total North American	-2.7 %	-
Travel Trailers and Other North American Towable	-4.02 %	-

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