Winnebago Industries, Inc. said the company gained 0.7% RV retail market share during a record fiscal third quarter of 2022.
The RV manufacturer reported an overall market share of 13.2%. The company said fiscal third-quarter revenues set a new company record at $1.5 billion.
Winnebago’s towable backlog fell 30% from the fiscal second quarter and is down 13.7% from the fiscal third quarter of 2021 as the manufacturer replenished dealer inventories.
“We expect supply chain inconsistencies and inflation pressures to continue in the fourth quarter, and into our fiscal 2023,” Winnebago President and CEO Michael Happe said, “and we are focused on continuing to stay ahead of them by leveraging our resilient operating structure, deep and collaborative relationships with our dealers and suppliers, and highly differentiated, premium portfolio of brands.”
As revenue reached records, Winnebago’s profits also soared. The company reported profits of $117.2 million, up 64.4% from the fiscal third quarter of 2021.
“In the third quarter, we capitalized on the prime spring selling season to further gain share and expand our pipeline of lifelong customers, as our golden threads of quality, innovation and customer experience continue to differentiate the Winnebago portfolio and resonate with consumers,” Happe said. “The unique strength of our brands positioned Winnebago Industries to not only gain market share but also to successfully take continued pricing actions to offset meaningful component and material cost inflation and enhance margin performance across our segments. We are incredibly proud of our results and the efforts of our talented team across the organization.”
In the Towable segment, revenues rose 45% from the fiscal third quarter of 2021, driven by price increases and strong dealer order backlogs, Winnebago said.
In the Motorhome segment, revenues rose 34% from the fiscal third quarter of 2021, driven by price increases and strong sales. Motorhome backlogs increased, however, rising 4.8% from the fiscal third quarter of 2021.
“Looking at the broader economic trends, we have been successful in managing supply chain disruptions, improving dealer inventory levels, navigating cost inflation, and driving manufacturing productivity to deliver consistently strong results,” Happe said. “We expect supply chain inconsistencies and inflation pressures to continue in the fourth quarter, and into our fiscal 2023, and we are focused on continuing to stay ahead of them.”
