Winnebago revenues dip with ‘challenging RV market conditions’
Winnebago Industries Inc. reported a 7% increase in net income for its fiscal fourth quarter, to $31.9 million from $29.8 million in the same period last year. Revenue for the quarter ended Aug. 31 was $530.4 million, a decrease of 1.1% from the 2018 period. For the full fiscal year, revenue of $1.99 billion decreased 1.5%, driven by a 17.9% decline in the motor home segment that more than offset 6.2% growth in the towable segment. Full-year earnings per share were a record $3.52, up 9% from 2018. “In the face of challenging RV market conditions, we drove increased share in our towables segment and continued to stabilize our motorhome platform with improved products and dealer relationships,” Winnebago President and CEO Michael Happe said in a release. “We are especially pleased to deliver record profitability for the company against the headwinds of ongoing tariffs and higher levels of competitive promotional activity in our target markets.”