Financial Performance - Winnebago Industries' F25 Q3 net revenues decreased by 1.4% compared to F24 Q3, reaching $775.1 million[35, 36] - Adjusted diluted EPS for F25 Q3 was $0.81, down from $1.10 in F24 Q3[35, 36] - Adjusted EBITDA for F25 Q3 was $46.5 million, a decrease from $58.0 million in F24 Q3[35, 36] - The company revised its FY25 net revenues guidance to $2.7 billion - $2.8 billion, compared to $2.97 billion in FY24[76] - The company revised its FY25 adjusted earnings per share guidance to $1.20 - $1.70, compared to $3.40 in FY24[76] Segment Results - Towable RV segment net revenues decreased by 3.8% to $371.7 million in F25 Q3[37, 39] - Towable RV segment adjusted EBITDA decreased by 15.7% to $35.4 million in F25 Q3[40, 41] - Motorhome RV segment net revenues decreased by 2.6% to $291.2 million in F25 Q3[46, 47] - Motorhome RV segment adjusted EBITDA decreased by 77.7% to $3.0 million in F25 Q3[48, 49] - Marine segment net revenues increased by 14.6% to $100.7 million in F25 Q3[57, 58] - Marine segment adjusted EBITDA increased by 37.0% to $11.6 million in F25 Q3[59, 60] Market Share and Industry Trends - North America RV industry retail sales decreased by 20% year-over-year through April 2025[14] - Winnebago Industries' North America RV market share was 10.8% in F25[22] - Barletta achieved the No 3 position in the U S Aluminum Pontoon Market with a 9.2% market share in F25[31]

Preliminary Q3 Results & Strategic Transformation - Preliminary Q3 results reflect a challenging near-term environment across the outdoor recreation industry[4] - New leadership at Winnebago Motorhomes is driving strategic business transformation to reduce costs and enhance profitability over fiscal 2026[13] - The company is managing areas within its control to drive greater operating efficiencies[13] Market Position & Innovation - The company is leaning into a culture of innovation across its portfolio of premium RV and marine brands[13] - Positive market share momentum is seen in GDRV towables and new motorhome business, Newmar, and Barletta[13] - The company is meeting consumers where they are with products that combine exceptional quality and value across price points[13] - Recently introduced products include Grand Design Lineage Series VT, Winnebago Thrive, Chris-Craft Catalina 31, and Newmar Freedom Aire Compact C[7, 8, 9, 10, 11] Financial Strength & Future Outlook - The company expects positive momentum coming out of the trough[5] - The company is positioned for a strong future[6] - A solid balance sheet and diverse capital allocation strategy enhance the company's ability to generate profitable growth long-term[13]