Revenues for Winnebago Industries produced what CEO Michael Happe said was an “outstanding market” in the company’s second quarter, which ended Feb. 27.
The company’s gross profit increased 96.3 percent to $156.6 million from $79.8 million during fiscal 2020.
“Winnebago Industries’ golden threads of quality, innovation and service consistently resonate with end consumers who continue to flock to the great outdoors in search of extraordinary experiences with family and friends, and aspire to choose a premium OEM partner,” Happe said. “We are seeing strong retail momentum heading into the prime spring season. I am especially excited and extremely grateful for our team’s ability to deliver strong profitability in the midst of a very dynamic environment – this is a testament to their resiliency, the appeal of our innovative product lines, and sustained continuous improvement efforts operationally. Looking forward, our relentless focus on building a premier outdoor lifestyle company to maximize value for our employees, consumers, dealers and shareholders remains steadfast.”
Happe said Winnebago is optimistic about retail and wholesale conditions in the remainder of its fiscal year.
“Our Winnebago Industries teams are working diligently with supplier partners to deliver higher volume levels of product to the market for the foreseeable future,” He said.
Happe said strong retail demand, low field inventory and record dealer orders “set the table” for the company’s continued performance.
“But it should be especially noted we also believe there is secular and ongoing growth in outdoor lifestyle products as consumer priorities have changed due to the pandemic,” Happe said. “We are making well-considered capital investments across our premium brand portfolio to increase capacity to meet this elevated demand, and will remain disciplined in managing future production to match healthy market behavior and economic conditions. Winnebago Industries is encouraged by the ramp-up of vaccinations in North America and continues to encourage all our stakeholders to keep their families and themselves healthy as they enjoy the outdoors.
“Lastly, our company is committed to building a more diverse, equitable, and inclusive culture and working to create more equitable outdoor experiences in our communities,” Happe said. “Recent exciting announcements on new board of director appointments, and a renewed enterprise partnership with the National Park Foundation, are proof points of positive progress on this critical journey with much more work ahead to do.”
