Shares of Thor Industries (THO) surged Wednesday after the recreational vehicle (RV) manufacturer reported better-than-expected results as North American demand and its efforts to reduce expenses boosted performance.

The maker of Airstream and Jayco RVs posted fiscal 2025 third-quarter earnings per share (EPS) of $2.53 on revenue that rose 3% to $2.89 billion. Analysts surveyed by Visible Alpha expected $1.79 and $2.63 billion, res🔴pe🤡ctively.

North American Towable RV sales increased 9% to $1.17 billion, with units shipped growing 5.5% to 36,077. The company credits the gain on a 4% rise in net price per unit because 𓆉of a greater proportion of fifth wheel units in its product mix. North American Motorized RV sales were 3% highe๊r to $666.7 million, with units shipped jumping 11% to 5,507, driven by promotional activities.

CEO Bob Martin said the company’s "successful execution of key strategic initiatives, in particular placing further emphasis on driving down our cost profile, led to improved margins in an environment where we saw modest year-over-year top-line improvement."

COO Todd Woelfer explained that Thor has taken "significant restructuring steps," and that those "will further optimize our enterprise structure and drive meaningful savings as the Company works to reduce its cost footprint."

Woelfer added that while the company affirmed its full-year outlook, it recognizes "that potential swings from uncertainties in the macro environment could be significant," including the impact of tariffs. Woelfer noted that the guidance assumes "no new material shifts within the macro or global trade environment." Thor sees 2025 EPS of $3.30 to $4.00, and revenue of $9.0 billion to $9.5 billion.

Despite today's 5% advance, Thor Industries shares are down nearly 10% year-to-date.