Thor Industries Inc. THO, -3.33 % shares rose 1.5% Tuesday in premarket trade after the recreational vehicle manufacturer reported a fiscal third-quarter loss that was sharply lower than expected, but still well above the expectations. Strength in Europe helped offset the decline in North America sales. The net income for the period ending April 30 was $120.7 million or $2.24 per share. This is down from $348.1 millions or $6.32 per share in the previous quarter. FactSet’s consensus estimate for earnings per share is $1.07. The sales dropped by 37.1%, to $2.93 Billion, but they were still above the FactSet consensus estimate of $2.81 Billion. North American Towables sales fell by 57.4%, to $1.12 Billion, and North American Motorized Rv sales were down by 24.4%, to $795.9 Million, while European RV Sales increased 19.7%, to $866.8 Million. Bob Martin, Chief Executive Officer of the company, said that “market conditions continue to remain challenging” as consumers and dealers face increased pressures due to macroeconomic factors. The company lowered its sales forecast to $10 billion to $12 billion, from $10.5 to $11.5 billion. It also raised its guidance for fiscal 2023. The stock is up 8.6% for the year so far, while S&P 500 SPX, -0.20% is up 11.3%.