Thor Industries announced a restructuring of its North American RV operations that will take effect immediately. The company will split its brands into two new operating groups: the first, led by Jayco President Ken Walters, will combine Jayco, Entegra, Open Range, Heartland, and the newly added Tiffin Motorhomes; Walters will serve as CEO of the group while retaining his role as Jayco President. The second group, headed by Thor Motor Coach President Jeff Kime, will bring together Thor Motor Coach, Keystone, Dutchmen, and Crossroads, with Kime continuing as Thor Motor Coach President and taking on the role of group CEO. Airstream and KZ will remain standalone operations but will receive enhanced collaboration support.
The reorganization is driven by several industry trends, including dealer consolidation, evolving consumer expectations, and the need for greater operational scale. By grouping brands with complementary product lines and market positions, Thor Industries aims to create a unified motorized and towable portfolio that can respond more quickly to changing customer demands and streamline dealer relationships. The company’s leadership believes that a more integrated structure will enable better allocation of resources, faster decision‑making, and stronger brand positioning across the North American market.
The expected benefits of the new structure include strategic sourcing efficiencies, operational standardization, and data integration across the two groups. Consolidating procurement functions is projected to reduce costs through volume discounts and shared supplier relationships. Standardizing manufacturing and distribution processes is intended to lower operating expenses and improve product quality consistency. Data integration will allow the groups to share best practices, customer insights, and performance metrics, fostering continuous improvement and innovation across the portfolio.
Thor Industries’ most recent quarterly results, released on December 3, 2025, provide context for the restructuring. The company reported revenue of $2.39 billion and a net income of $21.7 million for Q1 2026, compared with a net loss of $1.8 million on revenue of $2.14 billion in Q1 2025. Earnings per share of $0.41 beat analyst expectations of –$0.08, a beat of $0.49. Gross profit margin expanded 30 basis points to 13.4 percent, driven by a 30.9 percent year‑over‑year increase in the North American Motorized RV segment and an 8.4 percent rise in the European RV segment. These results demonstrate the company’s ability to generate profitability while navigating a challenging cost environment.
Management expressed confidence in the company’s trajectory. President and CEO Bob Martin said, "The RV industry has changed dramatically, particularly coming out of the COVID disruption, and THOR is changing dramatically with it." Walters added, "Tiffin brings a legacy of craftsmanship and motorized excellence that complements Jayco's innovation and operational momentum. By aligning our strengths and leveraging the industry‑leading practices that have propelled Jayco's strong market position over the last several years, this Group is well positioned to deliver even greater value and performance." Kime noted, "This Group brings together two powerful brands—Thor Motor Coach and Keystone—to create a complete, full‑line motorized and towable portfolio. By working closely together, Thor Motor Coach and Keystone will drive meaningful efficiencies and unlock significant synergies that strengthen our overall competitiveness." The company has maintained its full‑year fiscal 2026 guidance, projecting consolidated net sales between $9.0 billion and $9.5 billion and diluted EPS in the range of $3.75 to $4.25, signaling management’s confidence in sustaining growth and profitability.
The reorganization, coupled with recent strong financial performance, positions Thor Industries to enhance its competitive edge and resilience in a market characterized by shifting consumer preferences and dealer consolidation. By aligning complementary brands under unified leadership, the company aims to unlock operational efficiencies, strengthen its market presence, and better serve its dealers and customers in the long term.
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