Winnebago Industries saw second-quarter revenues rise by almost 39%.
The outdoor lifestyle products manufacturer with Iowa factories in Forest City, Lake Mills, Charles City and Waverly matched the record of $1.2 billion set in the first quarter of the fiscal year, compared to almost $840 million for the same quarter of last fiscal year.
Winnebago President and CEO Michael Happe says consumer demand for the company’s products continues to be strong. “Through our interactions with our consumers and feedback we receive from our dealers, consumers clearly recognize our products as being differentiated,” Happe says. “This differentiation is a result of our relentless focus on our golden threads of quality, service and innovation. Robust consumer demand is a powerful undercurrent that we believe will continue to propel our company’s growth through the current fiscal year and beyond.”
Happe says demand for the company’s products at recent trade shows proves people are continuing to buy recreational vehicles and boats. “Strong attendance at the recent Tampa RV show and the Miami boat show resulted in retail sales that exceeded our expectations. In fact, most of our retail shows this spring are seeing record sales for our brands,” he says. “This foreshadows a solid spring selling season that is historically reflected in our second-half results.”
Happe says market share gains across all segments are evidence of a deep affinity for the company’s brands. “On a trailing three-month basis through January, our RV market share was 14.3%, up a full 100 basis points from 13.3% for the same period in 2021,” Happe says. “In our marine segment, Bartletta has now grown to be the fifth-largest pontoon boat company by market share at 4.6% on a trailing three-month basis through December, and recent retail results show them approaching and breaking the 5% barrier.”
Gross profit for the company in the second quarter was $216.6 million, up almost 40% when compared to $156.6 million for the same period last year.
(By Bob Fisher, KRIB, Mason City)