AudioBusinessMediaNews

Winnebago Industries Off to a Good Start in the New Fiscal Year

After a record-setting fiscal year, Winnebago Industries is off to a good start for Fiscal Year 2022. The Forest City-based outdoor lifestyle products manufacturer saw revenues for the first quarter ending November 27th were a record $1.2 billion, an increase of 46% compared to the same quarter a year ago. President and CEO Michael Happe credits acquisitions of other companies in recent years to Winnebago’s continued success.

More people have been exploring the outdoors since the start of the pandemic, and a recent industry survey says 9.6 million additional households say they are considering purchasing a recreational vehicle in the next five years. Happe says the company should be able to take advantage of that projected demand.

Happe says the company is now fully reaping the benefits of its 2018 purchase of Chris-Craft boats and this year’s acquisition of the Barletta pontoon boats company. This quarter marks the first time the company is reporting separate figures for the marine segment, with revenues being $79.3 million in the first quarter.

Happe says the company has and will continue to be challenged by supply chain issues.

Shares of Winnebago Industries stock have climbed over the last calendar year from just under $60 at Christmastime 2020 to $70 at the time of today’s quarterly earnings report release.

Leave a Reply

ADVERTISEMENT

Back to top button