Thor Industries, Inc. (NYSE: THO) shares climbed 5% on Wednesday after the recreational vehicle maker posted fourth-quarter earnings that far exceeded analyst estimates.

The company reported adjusted earnings per share of $2.36 for the quarter ended July 31, 2025, well above the consensus of $1.25. Revenue reached $2.52 billion, topping expectations of $2.34 billion but down 0.4% from $2.53 billion a year earlier.

By segment, North American Motorized RV sales rose 7.8% to $557.4 million, driven by a 15.9% increase in unit shipments. Towable RV sales fell 4.6% to $888.7 million, with unit shipments down 10.1% as inventory was managed. European RV revenue slipped 2.2% to $923.1 million.

For fiscal 2026, Thor projected revenue between $9.0 billion and $9.5 billion, in line with analyst estimates of $9.32 billion. It guided earnings per share of $3.75 to $4.25, compared with expectations of $3.82.