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Winnebago reports 19% bump in revenue, market share growth


Winnebago Industries Inc. today reported higher revenue for its fiscal 2020 first quarter. Revenue for the quarter ended Nov. 30 was $588.5 million, an increase of 19.2% compared with $493.6 million for the fiscal 2019 period. Revenue excluding the recently acquired luxury motor home manufacturer Newmar Corp. was $552.8 million, representing an organic growth rate of 12% over the prior-year period, driven by strong growth in the towable segment and modest growth in the motor home business. Operating income was $23.9 million for the quarter, which includes $10 million of transaction costs related to the acquisition of Newmar, compared with $32.6 million in the first quarter of last year. Fiscal 2020 first-quarter net income was $14.1 million, a decrease of 36.5% from $22.2 million in the same period last year. Winnebago’s RV retail market share is now 10.8% on a trailing three-month basis through October, up 1.7 share points over the year-ago period and exceeding the company’s 2020 goal of 10% market share that it established two years ago, the company’s president and CEO, MIke Happe, said in an earnings release.

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