Winnebago Q2 2024 Earnings Report
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
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