Winnebago shares FY26 Q1 report

Winnebago Industries, parent company of Barletta and Chris Craft, has released its first quarter of fiscal year 2026 results.

Net revenues were $702.7 million, an increase of 12.3% compared to $625.6 million in the first quarter of Fiscal 2025. Gross profit was $89 million, representing 12.7% gross margin compared to 12.3% year-over-year. Net income was $5.5 million, and adjusted EBITDA was $30.2 million, up 109.7% compared to the year ago period.

“Winnebago Industries performed ahead of our expectations in the first quarter and demonstrated clear progress on our priorities,” said Michael Happe, president and chief executive officer of Winnebago. “Although the retail demand environment is dynamic and dealer order patterns remain highly seasonal, we delivered meaningful top-line growth and margin expansion in both our Motorhome and Towable RV segments.

“Our Marine segment also performed well in the first quarter, with modest year-over-year revenue growth and healthy operating income margins as we navigate a softer market,” he continued. “Barletta continues to outperform the U.S. aluminum pontoon segment, achieving a 9.1% market share for the 12 months ended October 31, up 30 basis points from the prior year. We continue to prioritize brand strength, operational efficiency and channel health, positioning our marine business to capitalize as conditions improve.”

Marine business

Net revenue in the marine segment was $92.5 million, up 2.2% year-over-year, due to selective price increases, partially offset by lower unit volume. Operating income decreased 0.6%, from $6.2 million to $6.1 million, due to volume deleverage.

Outlook

Winnebago Industries revised its Fiscal 2026 financial guidance as follows:

• Consolidated net revenues in the range of $2.8 billion to $3.0 billion, compared with the company’s prior expectation in the range of $2.75 billion to $2.95 billion;
• Reported earnings per diluted share in the range of $1.40 to $2.10, compared with the company’s prior expectation in the range of $1.25 to $1.95; and
• Adjusted earnings per diluted share guidance to a range of $2.10 to $2.80, compared with the company’s prior expectation in the range of $2.00 to $2.70.

“Even with macroeconomic uncertainty persisting and industry short-term retail demand still tempered, we expect our second quarter Fiscal 2026 performance to be stronger than the same period last year, but seasonally lower than the first-quarter results announced today,” Happe said. “As industry demand gradually recovers, the margin and efficiency improvements we are executing, together with new product offerings, enhance our competitive position and provide a solid foundation for second half success in Fiscal 2026, which is reflected in our positive, but still disciplined guidance outlook.”