Thule’s Solid Q2 Hurt by FX Rate Impact, Iran War as Sales Inch Up 0.5 Percent
July 20, 2026
Thule delivered a solid Q2 with higher margins and better-than-expected adjusted profit, but reported sales were almost flat as currency headwinds and geopolitical impacts—including the Middle East conflict—offset underlying organic growth. The U.S. market remains weak but slightly positive, and management highlighted that growth is being driven by new product launches and category expansion, though this comes with near-term pressure on profitability. SGB
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