Winnebago Industries reports profits for its fiscal second quarter hit $21.6 million.
The Forest City-based outdoor lifestyle product manufacturer reports that’s down about a half-million dollars, or 2.2%t, compared to a year ago. CEO Michael Happe says despite the drop in numbers from 2018 to 2019, the company continues to be in a very good position.
“While the North American RV industry is experiencing some challenging wholesale headwinds, the unique strength of our two RV brands, Winnebago and Grand Design, and their positions in the market, has allowed us to dramatically outpace the industry,” Happe says. “And we are seeing small but strategically important benefits from our new marine play in Chris-Craft.”
Happe says what he’s most pleased with is the company’s growing RV market share. “SSI Retail in the stand-alone month of January 2019 showed our company with a market share position of 10% in RVs,” Happe says. “This is significant progress, in fact three times greater from a position of under 3% just three years ago.”
Happe says the company is continuing to see positive things after the acquisition of the recreational boat builder Chris-Craft last year. “Consumers are showing tremendous interest in the Chris-Craft brand and its recent new products…and it is translating into positive sales and shipment trends for that brand,” he says. Winnebago posted revenue of $432.7 million, a decrease of 7.6% compared to the same period a year ago, topping Wall Street expectations.
(By Bob Fisher, KRIB, Mason City/Photo from the Winnebago website)