Welcome to our dedicated page for Winnebago Industries news (Ticker: WGO), a resource for investors and traders seeking the latest updates and insights on Winnebago Industries stock.
Winnebago Industries, Inc. (NYSE: WGO) is a leading manufacturer of recreational vehicles (RVs) and outdoor lifestyle products in the United States. Founded in 1958 and headquartered in Eden Prairie, Minnesota, Winnebago has built a reputation for quality and innovation in the RV industry. The company’s product portfolio includes Class A, B, and C motorhomes, towable travel trailers, fifth-wheel products, transit buses, and specialty vehicles. In recent years, Winnebago has expanded into the marine market with acquisitions such as Chris-Craft in 2018 and Barletta pontoon boats in 2021.
Winnebago Industries is committed to sustainable innovation, recently venturing into electric and autonomous RV technologies. The company has consistently received industry accolades, including the Quality Circle Award from the Recreation Vehicle Dealers Association every year since its inception in 1996.
In fiscal 2023, Winnebago reported approximately $3.5 billion in revenue, with towables making up 79% of total RV unit volume. The company produced a total of 39,447 RV units during this period. Key acquisitions have bolstered its market presence, such as the acquisition of SunnyBrook in 2011 and Grand Design in 2016, which significantly increased the company’s towables segment.
Winnebago’s latest innovations include the new View/Navion featuring the Winnebago Connect digital platform, the EKKO Sprinter, and the Revel with the new Winnebago Power system. These products are designed to offer enhanced off-grid capabilities and modern amenities, meeting the diverse needs of today’s RV enthusiasts.
In addition to RVs, Winnebago is a key player in the specialty vehicle market, providing electric vehicle solutions for mobile medical clinics, blood donation vehicles, and mobile command centers. The company has partnered with industry leaders like Xos, Inc. to bring zero-emission vehicles to market, reinforcing its commitment to sustainability.
For investors, Winnebago Industries offers a well-rounded portfolio and a track record of consistent performance. The company’s common stock is listed on the New York Stock Exchange under the symbol WGO, and options for the stock are traded on the Chicago Board Options Exchange. For more information or to receive company news releases, visit Winnebago Industries Investor Relations.
Winnebago has launched Winnebago Insider, a new digital platform offering customers insights into the latest RV products and lifestyle content. The platform features virtual tours, expert commentary, user testimonials, and product releases tailored for both RV enthusiasts and newcomers. Huw Bower, President of Winnebago Outdoors, emphasized the platform's role in enhancing customer engagement and supporting outdoor adventures. As a debut, six new models are highlighted, showcasing innovations in design and technology to meet diverse customer needs.
Winnebago Industries has launched the Winnebago Roam, a class-B RV designed for accessibility, featuring wheelchair lifts and other adaptive features. This vehicle caters to individuals with mobility challenges, providing essential accommodations for comfortable travel. At under 20 feet, it is easily maneuverable and ideal for various uses, from road trips to daily errands. The Roam joins Winnebago's existing wheelchair-friendly models and reflects the company's commitment to enhancing travel for those with accessibility needs. Sales will begin in Fall 2021 through select Winnebago dealers.
Winnebago Industries (NYSE: WGO) has successfully completed the acquisition of Barletta Pontoon Boats for $255 million in cash and shares, with an additional potential $15 million payable based on performance milestones. This strategic move extends Winnebago's reach into the growing pontoon boat segment and aims to enhance its outdoor lifestyle offerings. CEO Michael Happe expressed optimism about Barletta's strong market position and dealer relationships, anticipating significant financial benefits and value creation for shareholders through this integration.
Winnebago Industries (NYSE:WGO) announces the retirement of Matt Miller, President of Newmar Corporation, effective September 3, 2021. Miller will transition to a strategic advisor role. His leadership since 2006 has been pivotal in enhancing Newmar's reputation and market share in the Class A Diesel sector. Brian Hazelton, previously Senior VP of Winnebago-brand RVs, will succeed him on August 27, 2021. Hazelton's experience and commitment to product development and dealer relations is expected to drive further growth in Newmar's quality products.
Winnebago Industries (NYSE: WGO) announced a quarterly cash dividend of $0.18 per share, a 50% increase from the previous quarter, payable on September 29, 2021, for common stockholders of record by September 15, 2021. This marks the company's 29th consecutive quarter of dividends, reflecting its strong financial position. Additionally, Winnebago will relocate its corporate headquarters from Forest City, Iowa to Eden Prairie, Minnesota, effective December 1, 2021, without job loss, further demonstrating commitment to growth and community support.
Winnebago Industries (WGO) announced its acquisition of Barletta Pontoon Boats for $255 million in cash and stock, with potential additional payments up to $65 million based on performance milestones. This deal enhances Winnebago's marine platform, expanding into the growing pontoon market, which has seen a double-digit CAGR over the past decade. Barletta, recognized for quality and innovation, achieved $120.6 million in revenue in 2020 and projects $214.6 million in 2021. The acquisition is expected to be accretive to earnings starting in the first year post-closing.
Winnebago Industries reported record revenues of $960.7 million in Q3 FY2021, a 138.7% increase from $402.5 million in Q3 FY2020. Gross profit surged 429.6% to $169.6 million, and net income reached $71.3 million, compared to a loss of $(12.4) million last year. The company also posted record diluted EPS of $2.05 and adjusted EPS of $2.16. Backlogs reflect strong consumer demand, with RV market share at 12.5%. A quarterly dividend of $0.12 per share was declared, payable June 30, 2021.
Winnebago Industries (NYSE: WGO) is set to release its third quarter Fiscal 2021 earnings on June 23, 2021, before the market opens. A conference call will follow at 9:00 a.m. CDT to discuss the financial results.
Investors can listen live on the company’s website, with a replay available for 90 days post-event. Winnebago is recognized for its outdoor lifestyle products, including motorhomes, travel trailers, and boats, operating multiple facilities across various states.
Winnebago Industries announced a $0.12 quarterly cash dividend per share on May 19, 2021. The dividend is payable on June 30, 2021, to stockholders of record as of June 16, 2021. This decision reflects the company's commitment to returning value to its shareholders while continuing to support its operations in outdoor lifestyle products, including motorhomes and boats.
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