Winnebago Industries reported an increase in RV retail market share on a trailing three-month basis in its fiscal second-quarter earnings report.
President and CEO Michael Happe said, as of January, Winnebago’s retail market share grew 1% over the same period last year to 14.3%.
“Our second-quarter performance and record sales results at recent RV and marine trade shows further validate consumers’ embrace of the outdoor lifestyle,” Happe said. “Winnebago Industries is capitalizing on that sustained demand – market share gains across our segments are evidence of deep affinity for our brands, which consumers recognize are differentiated due to our continued focus on quality, service and innovation.”
Increased sales drove revenues to a record level, matching the fiscal first quarter’s record $1.2 billion. Profits rose 32% from the fiscal second quarter of 2021 to $91.2 million.
“The healthy demand environment, and the unique strength of our brands, positioned Winnebago Industries well to take continued pricing actions to offset component and material cost inflation and continue to deliver strong margin performance across our segments,” Happe said.
Happe called out Winnebago’s advancements in e-RV technology after the introduction of the company’s electric motorhome concept vehicle.
“We are proud to continue our legacy of innovation and explore new frontiers in outdoor lifestyle products,” he said. “Looking ahead, our world-class team remains committed to operational excellence, and working closely with our dealer partners to replenish their inventories. We are confident that Winnebago Industries has continued headroom for sustained market share gains and profitable growth across our portfolio.”
Towable revenues rose 47.2% in the fiscal second quarter from the previous year. The segment’s backlog rose 55.2% to $1.9 billion. Winnebago stated continued strong demand and pricing actions led to the backlog growth.
On the motorhome rise, revenues rose 9.1% from the fiscal second quarter of 2021, driven primarily by pricing increases, Winnebago stated. Motorhome backlog grew 21.9% from the previous year to $2.2 billion. Winnebago stated the backlog fell $200 million from the previous quarter, saying dealers continue to experience low motorized inventory levels and strong consumer demand.
