Winnebago Q4 Earnings & Revenues Miss Estimates, Decline Y/Y

Core Insights - Winnebago Industries (WGO) reported adjusted earnings of 28 cents per share for Q4 fiscal 2024, missing the Zacks Consensus Estimate of 91 cents and declining 82.3% year over year [1] - The company generated revenues of $720.9 million for the quarter, falling short of the Zacks Consensus Estimate of $726 million and down 6.5% year over year [1] Segmental Performance - Towable RV: Revenues decreased 7.2% year over year to $317 million, missing the estimate of $346 million. Total deliveries increased 6.1% to 8,183 units, exceeding the estimate of 7,819 units. Adjusted EBITDA fell 52% to $20.6 million, below the estimate of $33 million. Backlog was $137.1 million (4,850 units), down 34% [2] - Motorhome RV: Revenues slid 3.1% year over year to $308 million, missing the estimate of $311 million. Total deliveries fell 2.8% to 1,545 units, below the estimate of 1,580 units. Adjusted EBITDA decreased 42% to $13 million, missing the estimate of $20 million. Backlog was $234.4 million (897 units), down 66% [3] - Marine: Revenues totaled $80.5 million, down 16.6% year over year, missing the estimate of $87 million. Total deliveries decreased 10.3% to 1,042 units, below the estimate of 1,067 units. Adjusted EBITDA fell 45.7% to $5.5 million, missing the estimate of $6.8 million. Backlog was $260 million (3,403 units), up 33.5% [4] Financials & Outlook - As of August 31, 2024, Winnebago had cash and cash equivalents of $331 million, with long-term debt increasing to $637 million from $592.4 million a year prior. The company repurchased shares worth $10 million and paid a dividend of 34 cents per share [5] - For fiscal 2025, Winnebago expects consolidated revenues in the range of $2.9 billion to $3.2 billion, with adjusted EPS estimated between $3.00 and $4.50 [5] Peer Releases - Thor Industries reported earnings of $1.68 per share for Q4 fiscal 2024, beating the estimate of $1.35, with revenues of $2.53 billion, surpassing the estimate of $2.46 billion but down 7.4% year over year. Thor projects fiscal 2025 consolidated net sales between $9 billion and $9.8 billion [6] - REV Group reported earnings of 48 cents per share for Q3 fiscal 2024, beating the estimate of 44 cents. Revenues of $579.4 million missed the estimate by 7.1%, compared to year-ago revenues of $680 million. REV Group expects fiscal 2024 net sales in the range of $2.35 billion to $2.45 billion [7]