Industry Overview - The recreational vehicle (RV) industry experienced significant growth during 2020 and 2021 but faced a downturn in 2022 due to economic uncertainties, with RV sales nearly halving from their peak in 2021 [2] - Motorhomes and towable trailers had their worst performance in over a decade in 2023, influenced by macroeconomic factors such as elevated interest rates and persistent inflation [2] Company Performance: Winnebago - Winnebago Industries (WGO) missed fiscal third-quarter 2024 earnings and revenue estimates due to lower unit sales amid soft consumer sentiment, with a bleak near-term outlook for its motorhome RV and marine segments [3][4] - The company reported a significant reduction in order backlog, indicating weak industry demand and leading to further destocking, while its market share has declined amid intensified competition [4] - Operating expenses, particularly in selling, general and administrative (SG&A), have risen relative to revenues, further squeezing operating profits [4] Financial Health - Despite weak results, Winnebago maintains a strong balance sheet with high liquidity and manageable leverage, continuing to return value to shareholders through dividends and share buybacks [5] - The company faces challenges with excess inventory levels leading to elevated discounts, which have negatively impacted gross margins, falling to 15%, a decrease of 180 basis points year over year [13] Valuation and Market Sentiment - Winnebago's shares have declined approximately 19% over the past year and are currently trading at a 52-week low of $51.89, with a year-to-date decline of 29% [9][10] - The stock trades at a price/earnings ratio of 8.18, above its 5-year low of 4.16, raising concerns about the justification of this premium given the company's declining sales, profits, and market share [15] - The Zacks Consensus Estimate for WGO's fiscal 2024 sales and earnings implies a year-over-year decline of 13% and 43%, respectively, indicating a loss of analyst confidence [19]

year. VAL Winnebago Industries Inc (WGO) Price % Change SPDR® S&P 500® ETF Trust (SPY) Price % Change -24.88% 14.47% 15.00% Jan '24 Feb '24 Mar "24 Apr "24 May '24 Jun '24 Seeking AlphaQ Jun 24, 2024, 1:48 PM EDT Powered by YC HARTS Data by YCharts Quarterly results Revenues If we break down the results into three segments, namely towable RV, motorhome RV and manine, we can see that the marine segment has had the worst performance compared to the prior year. While revenues in the towable RV segment have rem ...

Winnebago Industries (WGO) reported adjusted earnings of $1.13 per share for third-quarter fiscal 2024 (ended May 25, 2024), missing the Zacks Consensus Estimate of $1.30 and falling 46.9% year over year. The recreational vehicle (RV) maker reported revenues of $786 million for the quarter under review, missing the Zacks Consensus Estimate of $800 million. The top line also fell 12.7% year over year. Segmental Performance Towable RV: Revenues in the Towable RV segment rose 0.6% year over year to $386.3 mill ...

For the quarter ended May 2024, Winnebago Industries (WGO) reported revenue of $786 million, down 12.7% over the same period last year. EPS came in at $1.13, compared to $2.13 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $800.03 million, representing a surprise of -1.75%. The company delivered an EPS surprise of -13.08%, with the consensus EPS estimate being $1.30. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended May 25, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________________ to _________________ Commission File Number: 001-06403 WINNEBAGO INDUSTRIES, INC. If an emerging growth company, indicate by check mark if the r ...

Forward Looking Statements June 20, 2024 INDUSTRY AND MARKET DATA 2 04 3 • Solid sequential top- and bottom-line improvement, paced by Towable RV and Marine segments • Returned more than $29 million to shareholders through share repurchases and dividends in Q3 4 11.00 North America RV Industry Retail Sales | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------|------------------------------------------- ...

Winnebago Industries, Inc. (NYSE:WGO) Q3 2024 Earnings Conference Call June 20, 2024 10:00 AM ET Company Participants Ray Posadas - VP of IR & Market Intelligence Michael Happe - President & CEO Bryan Hughes - SVP & CFO Conference Call Participants Tristan Thomas-Martin - BMO Capital markets James Hardiman - Citi Bret Jordan - Jefferies Michael Swartz - Truist Securities Noah Zatzkin - KeyBanc Capital Markets Craig Kennison - Baird Scott Stember - Roth-MKM Joe Altobello - Raymond James David Whiston - Morni ...

Core Viewpoint - Winnebago Industries reported quarterly earnings of $1.13 per share, missing the Zacks Consensus Estimate of $1.30 per share, and down from $2.13 per share a year ago [1] Financial Performance - The company posted revenues of $786 million for the quarter, missing the Zacks Consensus Estimate by 1.75%, and down from $900.8 million year-over-year [8] - The earnings surprise for the quarter was -13.08%, while a quarter ago, the company had a positive surprise of 8.14% [7] - Over the last four quarters, Winnebago has surpassed consensus EPS estimates two times [2] Future Earnings Expectations - The current consensus EPS estimate for the upcoming quarter is $1.67 on revenues of $836.1 million, and for the current fiscal year, it is $5.02 on revenues of $3.1 billion [5] - The trend for estimate revisions ahead of the earnings release was unfavorable, leading to a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [11] Market Performance - Winnebago shares have declined approximately 22.2% since the beginning of the year, contrasting with the S&P 500's gain of 15% [9] - The company's performance is influenced by the overall industry outlook, with the Building Products - Mobile Homes and RV Builders sector currently in the bottom 10% of Zacks industries [12]

-- Barletta Accelerates its Share Momentum in the U.S. Aluminum Pontoon Market Achieving Double Digit Market Share in the Most Recent Three- and Six-Month Periods -- (1) -- Company Returns $87.8 Million to Shareholders Through Share Repurchases and Dividends Through the First Nine Months of Fiscal 2024 -- Exhibit 99.1 News Release WINNEBAGO INDUSTRIES REPORTS THIRD QUARTER FISCAL 2024 RESULTS -- Resilient Profitability, Supported by Solid Sequential Improvement in Towable RV and Marine Segments -- EDEN PRAI ...

Earnings per common share: Basic $ 0.99 $ 1.95 Diluted $ 0.96 $ 1.71 Weighted average common shares outstanding: Basic 29.2 30.4 Diluted 30.4 35.4 | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------------|--------------|-------|-------|--------------|-------|-------| | | | | | | | | | (in millions, except percent and per share data) | May 25, 2024 | | | May 27, 2023 | | | | Net revenues | $ 2,252.6 | 100.0 | % | $ 2,719.7 | 100.0 | % | | Cost of goods sold | 1,913.3 | 8 ...