Winnebago Industries reported strong Q4 results with a 7.8% increase in net revenues to $777.3 million. Gross profit was $99.2 million, and net income was $13.7 million. Operating cash flow was $181.4 million, and the leverage ratio improved to 3.1x. The company issued fiscal 2026 financial guidance.

CEO Michael Happe praised the team for delivering solid results despite challenges. Share expansion was seen in aluminum pontoons and key motorhome segments. Efforts to manage production schedules and inventory levels paid off. New products were well received at the RV Open House.

In the towable RV segment, net revenues decreased by 3.4% in Q4, while operating income margin increased due to efficiencies. For the full year, net revenues decreased by 7.5%. In the motorhome RV segment, net revenues increased by 17.3% in Q4, but there was an operating loss. For the full year, net revenues decreased by 9.4%.

The marine segment saw a 17.9% increase in net revenues in Q4, with an operating income margin of 7.1%. For the full year, net revenues increased by 13.0%, with an operating income margin of 7.5%. Dealer inventory for boats increased by 4.8% year-over-year.

The company’s balance sheet strengthened, with cash and cash equivalents at $174.0 million at the end of Q4. Total outstanding debt was $540.5 million. Winnebago Industries issued a 3% increase in quarterly cash dividends and provided financial guidance for 2026. North American RV wholesale shipments are expected to be between 315,000 to 345,000 units.

Read more at GlobeNewswire: Winnebago Industries Reports Fourth Quarter and Full Year