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Feb 24, 2024
Winnebago Q2 2024 Earnings Report
Winnebago's financial performance aligned with expectations, navigating ongoing softness in the RV and marine markets, while demonstrating resilient profitability and commitment to operational discipline.
Key Takeaways
Winnebago Industries reported Q2 fiscal year 2024 results with revenues of $703.6 million and a net loss of $12.7 million, or $0.43 per share, which includes a charge of $32.7 million related to refinancing convertible senior notes. Adjusted earnings per share were $0.93. The company is navigating softness in the RV and marine markets while focusing on product diversification and cost management.
Revenues reached $703.6 million.
Gross profit was $105.3 million, representing a 15.0% gross margin.
Net loss amounted to $12.7 million, or $0.43 per share, including a $32.7 million charge related to debt refinancing.
Adjusted diluted earnings per share stood at $0.93.
Winnebago
Winnebago
Winnebago Revenue by Segment
Revenue by Segment
Towable RV Revenue
CapyFin.comMotorhome RV Revenue
CapyFin.comMarine Revenue
CapyFin.com Forward Guidance
Winnebago Industries announced future mid-cycle organic growth targets, anticipating net revenues of $4.5 billion to $5.0 billion, a gross margin of 18.0% to 18.5%, and an adjusted EBITDA margin of 11.0% to 11.5%.
Positive Outlook
- Net revenues of $4.5 billion to $5.0 billion
- Gross margin of 18.0% to 18.5%
- Adjusted EBITDA margin of 11.0% to 11.5%
- Free cash flow of $325 million to $375 million
- North American RV market share of more than 13%
Challenges Ahead
- General economic uncertainty in key markets
- Worsening of domestic and global economic conditions
- Availability of financing for RV and marine dealers
- Competition and new product introductions by competitors
- Ability to manage inventory to meet demand
Revenue & Expenses
Visualization of income flow from segment revenue to net income