Second quarter revenues for Winnebago Industries fell by 25% compared to a year ago.

The outdoor lifestyle products manufacturer — with Iowa factories in Forest City, Lake Mills, Charles City and Waverly — reports second quarter revenue was just under $867 million, compared to $1.2 billion in the quarter last year. Winnebago president and CEO Michael Happe says the benefits of a diversified outdoor portfolio and strong performance in the marine segment helped to offset a continued softening in consumer demand for recreational vehicles.

“Despite a continuation of many of the same macrodynamics that we experienced in the first quarter, including general pressure from moderate inflation, higher interest rates, and supply chain inconsistencies, as well as challenging comparisons to the year-ago period of tremendous growth,” Happe says, “continuous efforts to improve the efficiency of our operations reinforced by our commitment to disciplined production and cost management allowed us to sustain competitive double-digit margins across our towable, motor home and marine segments.”

Happe says despite the decrease compared to last year’s second quarter, he’s still content with the quarter’s results. “While down compared to historic record levels last year, these outcomes remain solidly above pre-pandemic results and exceeded external market expectations, once again reflecting the strong underlying agility of our operations and appeal of our products,” he says.

Happe says the second quarter results were spurred by the strength of the company’s premium product portfolio which continues to resonate with a diverse population of outdoor lifestyle consumers. “We have strong conviction in the ongoing appeal of our premium RV brands which have maintained net stable market share, even as overall RV market demand has softened,” Happe says. “On the marine side, the Barletta brand of aluminum pontoons has achieved extraordinary market share growth, making the marine segment our fastest-growing category with consumers currently.”

Revenues for the company’s motor home segment were down 3.3% from last year, the towables segment was down 47% from the prior year, while the company’s marine segment was up just over 16% due to carryover price increases.

(By Bob Fisher, KRIB, Mason City)

Radio Iowa