In Winnebago Industries’ 2024 fiscal third-quarter report, the manufacturer highlighted gains made in a macroenvironment still facing challenges.
Winnebago President and CEO Michael Happe said, “We are generally pleased with the resiliency of our portfolio, as our teams balance the pursuit of long-term share, profitability and customer satisfaction across our premium brands.”
Winnebago’s towable segment generated higher revenue compared with the fiscal third quarter of 2023. Towable RV segment revenue was $386.3 million. The company contributed the segment revenue growth to cost-effective travel trailer introductions from Grand Design and Winnebago.
Winnebago recorded increased RV volume and decreased average selling price per RV.
The manufacturer targeted aged inventory reduction.
Happe said, “Our teams continue to work closely with our dealer partners to monitor the complexion of their inventory and match production and shipments with retail demand.”
Amid the quarter’s positive notes, the fiscal report revealed revenue and profit decreases compared with the fiscal third quarter of 2023.
Winnebago’s revenue in the 2024 third quarter was $786 million, decreasing 12.7% compared with the fiscal third quarter of 2023.
The manufacturer’s gross profit totaled $118.2 million; a 22% decrease compared with the fiscal third quarter of 2023.
“Overall, while the challenges of today require constant diligence to navigate, our company and brands are stronger than ever before,” Happe said, “and with ongoing investments in product, people, systems and capabilities like digital connectivity, we are well-situated to grow profitably as the cycle turns more positive in the future.”
