Thule shares surge as Q4 results top estimates

(Sharecast News) - Shares in Thule jumped by more than a tenth on Tuesday after the Swedish transportation products group reported fourth-quarter results ahead of analysts' expectations.

The company, known for its car storage solutions and bike racks, reported a 9.4% year-on-year increase in sales over the final three months of 2025 to SEK1.84bn, as a 10.4 percentage-point negative impact from FX movements was more than offset by a 19.9pp positive impact from acquisitions.

Revenues, according to broker Jefferies, were some 4% ahead of consensus forecasts, as a strong performance in Europe outweighed ongoing struggles in the North America division.

Net income for the quarter totalled SEK21m, compared with a loss of SEK37 the year before and also above market expectations, helped by a jump in the gross margin to 44.9% from 41.6%.

In 2025, we increased both sales and profit despite a challenging business environment," said chief executive and president Mattias Ankarberg.

"As we enter 2026, the market as a whole is still affected by cautious consumers and retailers, but the trend is now more positive in, for example, the market for RV Products."

Commenting on the results, Jefferies said in a research note: "With both sales and EBIT ahead of expectations and clear evidence of cost discipline, we view the print as supportive and expect a positive share price reaction, with investor focus on the pace of North American normalisation and retailer restocking as key catalysts for further upside."

The stock was up 12.5% at SEK244.40 by 1145 GMT.