Financial Performance - Net revenues for Fiscal 2024 decreased to $2,973.5 million, a decline of 14.8% from $3,490.7 million in Fiscal 2023[125] - Gross profit fell to $433.5 million, representing 14.6% of revenues, down from 16.8% in the previous year, a decrease of 26.0%[125] - Operating income dropped significantly to $100.2 million, a decline of 66.7% compared to $300.7 million in Fiscal 2023[125] - Net income for Fiscal 2024 was $13.0 million, down 94.0% from $215.9 million in Fiscal 2023[125] - Adjusted EBITDA for Fiscal 2024 was $190.6 million, a decrease of 46.2% from $354.7 million in Fiscal 2023[129] - Basic earnings per share dropped to $0.44 from $7.12, reflecting a decline of 93.8% year-over-year[194] Segment Performance - Towable RV segment net revenues decreased to $1,318.8 million in 2024 from $1,415.3 million in 2023, a decline of 6.8%[131] - Adjusted EBITDA for the Towable RV segment fell to $122.4 million, representing a margin of 9.3%, down from $172.1 million and 12.2% in the previous year[131] - Motorhome RV segment net revenues dropped to $1,279.8 million in 2024, an 18.0% decrease from $1,560.1 million in 2023[134] - Adjusted EBITDA for the Motorhome RV segment decreased to $73.7 million, with a margin of 5.8%, down from $142.0 million and 9.1% in 2023[134] - Marine segment net revenues fell to $325.5 million in 2024, a decline of 30.7% from $469.7 million in 2023[138] - Adjusted EBITDA for the Marine segment decreased to $25.6 million, with a margin of 7.9%, down from $60.5 million and 12.9% in the previous year[138] Expenses and Costs - Cost of goods sold decreased to $2,540.0 million, representing 85.4% of revenues, down from 83.2% in the previous year[125] - Selling, general, and administrative expenses increased to $280.0 million, accounting for 9.4% of revenues, up from 7.7% in Fiscal 2023[125] - Advertising costs for Fiscal 2024 were $21.9 million, compared to $21.3 million in Fiscal 2023 and $23.3 million in Fiscal 2022[226] Cash Flow and Working Capital - Total cash provided by operating activities was $143.9 million in 2024, a significant decrease from $294.5 million in 2023[141] - Working capital as of August 31, 2024, was $584.0 million, down from $600.7 million as of August 26, 2023[147] Impairments and Charges - The company recognized a $30.3 million goodwill impairment charge related to the Chris-Craft reporting unit during the fourth quarter of Fiscal 2024[118] - The company recorded a $30.3 million impairment charge for the Chris-Craft reporting unit, representing the full goodwill balance attributable to that unit[162] - Goodwill impairment recorded was $30.3 million, with no prior year comparison available[199] Assets and Liabilities - Total assets as of August 31, 2024, were $2,384.2 million, a decrease from $2,432.4 million in the previous year[197] - Total liabilities increased to $1,110.9 million from $1,064.3 million, indicating a rise of 4.4%[197] - The product warranty accrual for Grand Design was $78.9 million, down from $97.8 million, reflecting a decrease of 19.0%[197] Debt and Financing - The company issued $350.0 million in aggregate principal amount of 3.25% unsecured convertible senior notes due 2030, with net proceeds of approximately $339.8 million after transaction fees[272] - The company repurchased $240.7 million of 2025 Convertible Notes, incurring a loss of $32.7 million on the repurchase[119] - The total debt increased from $600.0 million in 2023 to $709.3 million in 2024, with long-term debt net value rising to $637.1 million[266] Internal Controls and Accounting - The company maintains effective internal control over financial reporting as of August 31, 2024, according to the audit opinion[188] - The company’s critical accounting policies and estimates are reviewed with the Audit Committee to ensure transparency and accuracy in financial reporting[156] - The company has not adopted any new accounting standards during the fiscal year ended August 31, 2024, that had a material impact on its consolidated results[229] Future Outlook - The company anticipates capital expenditures of approximately $50.0 million to $60.0 million in Fiscal 2025 to support organic growth and operational improvements[148] - The company anticipates satisfying its short-term and long-term obligations through a combination of cash on hand, operational cash flow, and borrowing capacity[154]

Core Viewpoint - Johnson Fistel, LLP is investigating potential violations of securities laws by Winnebago Industries, Inc. related to misrepresentation and failure to disclose adverse information regarding safety issues with their RVs [1] Group 1: Allegations Against Winnebago - An article titled "Grand Deception" claims that Winnebago's best-selling Grand Design RVs are experiencing frame failures, potentially affecting thousands of units sold for over a billion dollars [1] - The reported frame failures have resulted in significant damage and safety risks, rendering some RVs unroadworthy [1] - Allegations suggest that Winnebago has employed NDAs, buybacks, and online censorship to suppress complaints regarding the frame failures [1] Group 2: Investigation and Whistleblower Information - Individuals who purchased Winnebago securities and suffered losses are encouraged to join the investigation [1] - The SEC Whistleblower program offers rewards up to 30% of any successful recovery for individuals providing original information [2]

For the quarter ended August 2024, Winnebago Industries (WGO) reported revenue of $720.9 million, down 6.5% over the same period last year. EPS came in at $0.28, compared to $1.59 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $726.04 million, representing a surprise of -0.71%. The company delivered an EPS surprise of -69.23%, with the consensus EPS estimate being $0.91.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Exhibit 99.1 News Release WINNEBAGO INDUSTRIES REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2024 RESULTS -- Full Year Operating Cash Flow of $143.9 Million Supports Company's Strategic Growth Investments -- -- $106.8 Million Returned to Shareholders via Repurchases and Dividends in FY 2024, Despite Challenging Market Environment -- -- Leadership Changes at Winnebago Branded Businesses Aimed at Strengthening Market Position -- -- Company Issues Fiscal 2025 Financial Guidance -- EDEN PRAIRIE, MINNESOTA, Octobe ...

Core Insights - Winnebago Industries reported a net loss of $29.1 million in Q4 FY 2024, compared to a net income of $43.8 million in the same quarter last year, reflecting challenges in the retail demand environment and operational inefficiencies [2][7][21] - The company generated $143.9 million in operating cash flow for the full year FY 2024, supporting strategic growth investments and returning $106.8 million to shareholders through repurchases and dividends [1][22] - Leadership changes have been implemented to strengthen the Winnebago branded businesses, aiming to enhance market position and address underperformance [4][24] Financial Performance - Q4 FY 2024 revenues were $720.9 million, a decrease of 6.5% from $771.0 million in Q4 FY 2023, primarily due to product mix and operational challenges [5][7] - Full year FY 2024 revenues totaled $2.9735 billion, down 14.8% from $3.4907 billion in FY 2023, driven by lower unit sales and product mix [9][21] - Gross profit for Q4 FY 2024 was $94.2 million, representing a gross margin of 13.1%, down from 16.5% in the same quarter last year [5][29] Operational Challenges - The RV industry is facing headwinds such as uncertain retail conditions, higher inventory carrying costs, and elevated inventories in the motorhome segment, leading to dealer hesitancy [2][4] - Operating expenses increased by 60.4% in Q4 FY 2024 to $112.0 million, primarily due to a goodwill impairment charge and strategic investments [6][8] - The company reported an operating loss of $17.8 million in Q4 FY 2024, compared to an operating income of $57.5 million in the same quarter last year [6][29] Strategic Initiatives - Winnebago is focusing on product innovation, with recent launches aimed at balancing cutting-edge features with affordability [3][24] - The company anticipates total North American RV wholesale shipments in FY 2025 to be between 320,000 to 350,000 units, with projected revenues of $2.9 billion to $3.2 billion [23][24] - Leadership changes include the appointment of Chris West as President of the Winnebago branded Motorhome and Specialty Vehicles business, and Don Clark as Group President overseeing Winnebago Towables [4][24] Cash Flow and Shareholder Returns - The company returned $106.8 million to shareholders in FY 2024 through dividends and share repurchases, with a quarterly cash dividend increase of 10% approved [1][22] - As of August 31, 2024, cash and cash equivalents were $330.9 million, with total outstanding debt of $696.2 million, indicating strong financial flexibility [21][30]

NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Winnebago Industries, Inc. (NYSE: WGO) resulting from allegations that Winnebago may have issued materially misleading business information to the investing public. So What: If you purchased Winnebago securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arran ...

Core Insights - Winnebago Industries has promoted Don Clark to Group President of Towable RVs, effective November 1, 2024, to lead both the Winnebago and Grand Design RV brands in the towable RV division [1][2] - The towable division will remain a separate business unit from Grand Design, allowing both brands to compete independently in the market [2] - The leadership team aims to enhance the Winnebago brand's market presence through collaboration, new product development, and technological innovations [3][4] Company Overview - Winnebago Industries is a leading North American manufacturer of outdoor recreation products, including motorhomes, travel trailers, and powerboats, operating under several brands such as Winnebago, Grand Design, and Chris-Craft [4] - The company is committed to sustainable innovation and vertical integration, with multiple facilities located in Iowa, Indiana, Minnesota, and Florida [4]

EDEN PRAIRIE, Minn., Oct. 01, 2024 (GLOBE NEWSWIRE) -- Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor recreation product manufacturer, plans to issue its earnings release for its fourth quarter and fiscal 2024 before the market opens on Wednesday, October 23, 2024. The Company will also host a conference call to discuss the financial results for the quarter on October 23, at 9 a.m. CT. All interested parties are invited to listen live via the Company's website, www.winnebagoind.com/investors. The ...

NEW YORK, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Winnebago Industries, Inc. ("Winnebago" or the "Company") (NYSE:WGO) on behalf of Winnebago stockholders. Our investigation concerns whether Winnebago has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On September 23, 2024, Hunterbrook Media published an art ...

NEW YORK, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Winnebago Industries, Inc. (NYSE: WGO) resulting from allegations that Winnebago may have issued materially misleading business information to the investing public. So What: If you purchased Winnebago securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee ...