Winnebago Industries has announced earnings for the first quarter of fiscal 2021, and the company reports a nearly 35 percent jump in revenue compared to a year ago – $793 million, compared with $588.5 million.
Excluding Newmar sales, revenues were $674.4 million, a 22 percent jump.
“Winnebago Industries’ first quarter results underscore the strength of our unmatched portfolio of leading brands and continued demand from the end consumer for our high quality, innovative outdoor products,” said President and CEO Michael Happe. “The momentum we are seeing across our segments allowed us to capture the full value of our products in the marketplace, while continuing to gain market share. Our strong profit performance – including significant margin expansion – reflects the hard work and focus of our world-class Winnebago Industries team, which has maintained a commitment to operational excellence and safely manufacturing our products with a steadfast dedication to quality. We especially remain focused on continuing to deliver for our dealer partners, working hard to replenish their inventories, while ensuring strong financial performance and flexibility for both parties during these dynamic times. Interest in the outdoors is not waning and in fact, appears to be strengthening heading into calendar year 2021, and Winnebago Industries is positioned well to maximize value for our employees, end customers, dealers, and shareholders.”
Revenues for Winnebago’s towable segment were $454.9 million for the first quarter, up 33.3 percent over the prior year, primarily driven by strong continued end-consumer demand for the company’s Grand Design and Winnebago product lines.
Revenues for the Motorhome segment were $322.4 million for the first quarter, up 42.7 percent from the prior year, driven by the addition of Newmar and strong Winnebago Class B products.
