Winnebago Industries reports strong profitability and revenue growth in towable RV and marine segments

From GlobeNewswire: 2024-06-20 07:00:00

Winnebago Industries, Inc. reported resilient profitability, with strong improvement seen in their Towable RV and Marine segments. Barletta saw a significant increase in the U.S. Aluminum Pontoon Market, achieving double-digit market share in recent months. The company returned $87.8 million to shareholders through share repurchases and dividends in the first nine months of fiscal 2024.

In the third quarter of fiscal 2024, Winnebago Industries reported revenues of $786.0 million, gross profit of $118.2 million, and adjusted EBITDA of $58.0 million. Despite market challenges, the company showed sequential margin growth driven by their Towable RV and Marine segments. New product introductions and strategic investments in innovation are part of their growth strategy.

The company’s Towable RV segment showed a slight increase in revenues compared to the prior year, while the Motorhome RV segment experienced a decrease due to market conditions. The Marine segment also saw a decline in revenues. Cash and cash equivalents totaled $318.1 million as of May 25, 2024, with cash flow provided by operations at $99.4 million in the third quarter.

Winnebago Industries executed share repurchases of $20 million and approved a quarterly cash dividend of $0.31 per share payable on June 26, 2024. The company will discuss their third quarter fiscal 2024 earnings results during a conference call, where they will outline their ongoing investments in product, people, and capabilities to position themselves for profitable growth in the future.



Read more at GlobeNewswire:: Winnebago Industries Reports Third Quarter Fiscal 2024