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Winnebago’s second-quarter profits fall

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Lower sales caused Forest City-based Winnebago Industries Inc.’s net income to slip 2.2 percent in the fiscal second quarter, reported Reuters.

The largest U.S. motor home manufacturer reported that earnings in the three months ended Feb. 24 dropped to $7.5 million, or 24 cents per share, compared with $7.7 million, or 23 cents per share, in the year-ago period. Revenues fell 3.6 percent to $199 million.

The results, however, are slightly above analysts’ estimates that the company would earn 23 cents a share on sales of $195.7 million.

The RV industry has suffered from rising interest rates and high gas prices, which have limited consumers’ discretionary purchases. According to Statistical Surveys, wholesale RV shipments declined 23 percent in January and motor home retail registrations fell 16 percent. The Recreational Vehicle Industry Association expects motor home manufacturers to ship 341,900 motor homes and trailers this year, down 11.3 percent from 2006.