Winnebago Industries revealed the company registered a net loss in its fiscal fourth quarter, although the company remained profitable through the full fiscal 2024 year.
The company concentrated on profitability/cash generation, managing inventory and investing in new products/technology.
“Winnebago Industries’ fourth-quarter performance fell short of our expectations,” President and CEO Mike Happe said, “primarily reflecting the sluggish retail demand environment and operating inefficiencies within our Winnebago-branded businesses.”
Winnebago’s fiscal year 2024 revenue fell 6.8% to $3 billion, compared with $3.5 billion in fiscal year 2023. The 2024 fiscal year net profits totaled $13 billion, down 94% from the $215.9 billion in 2023 net profits.
The company’s fourth-quarter revenue was $720.9 million, a 6.5% decrease compared with the 2023 fourth quarter. The fourth quarter’s net loss totaled $29.1 million, compared with 2023’s fourth quarter net profits totaling $32.8 million.
Winnebago focused on enriching its leadership during the quarter.
The manufacturer appointed Chris West, who led the company’s enterprise operations, to president of Winnebago branded Motorhome and Specialty Vehicles, and Grand Design President Don Clark to Winnebago group president.
Happe said, “The extensive industry knowledge and leadership skills Chris and Don bring to their new roles will be invaluable in further enhancing Winnebago brand’s influence, impact and market share through new products and technology innovations.”
