Led by more people heading outdoors during the pandemic, Winnebago Industries began the 2021 fiscal year strong. The company reported first-quarter net income of $57.4 million, an increase of over 300% when compared to $14.1 million in the prior year quarter. Winnebago president and C-E-O Michael Happe says the company had a fantastic first quarter and credited the company’s employees for continued hard work through the pandemic.
Happe explained that the Winnebago, Grand Design RV, Newmar luxury R-V and Chris-Craft boat brands continue to experience solid business as people turn to recreational opportunities during the pandemic.
Winnebago Industries commissioned in November that showed how widespread the draw of the outdoor lifestyle has been in the past year.
The report shows 31% of those consumers were participating in an outdoor activity for the first time. Winnebago posted revenue of $793.1 million for the first quarter, an increase of 35% compared to the Fiscal Year 2020 period.