Winnebago Industries has reported revenue of $960.7 million during the third quarter of fiscal 2021, a nearly 138 percent increase over the $402.5 million during the same quarter the previous year.
Net income for the quarter was $71.3 million compared to a net loss of $12.4 million in the prior year fiscal quarter.
“Winnebago Industries’ record fiscal third quarter results continued our sequential growth trajectory, which is a testament to the sustained strength of consumer engagement in the outdoor lifestyle as well as the tremendous appeal of our premium brands,” said CEO Michael Happe. “Throughout the quarter, we capitalized on the prime spring selling season to gain share and drive higher consumer engagement, further cultivating our pipeline of lifelong customers. I’m also proud of the Winnebago Industries team, who have been able to maintain our commitment to manufacturing excellence amid incredible demand and drive operational leverage that is producing continued, strong profitability. We are very pleased with our results and will maintain our focus on executing our proven strategy to build a differentiated, premier outdoor company and drive long-term value for end customers, dealers, employees and shareholders.”
Revenues Broken Down by Unit Type:
Revenues for the towable segment were $555.7 million for the third quarter of Fiscal 2021, up 194 percent over the prior year period, driven by heightened consumer demand for its Grand Design- and Winnebago-branded products, the company said.
Backlog increased to $1.5 billion, reflecting an increase of 265 percent over the prior year period.
In the motorhome segment, revenues were $385.3 million, up 89 percent from the prior year period, driven by continued strong consumer demand for both Winnebago- and Newmar-branded motorhomes.
Backlog in that segment increased to $2.2 billion, an increase of 323 percent over the prior year period.
“As we enter the final quarter of Fiscal 2021, we are pleased with the strength of our business and the unique appeal of our leading brands,” Happe said. “We remain focused on working with our suppliers to sustain strong levels of production and with our dealer network to replenish their inventories in the face of record backlog. We are also continuing to invest in our business to ensure we are best positioned to meet the persistent, elevated demand we anticipate in quarters to come, driven by the secular and ongoing growth in outdoor lifestyle products and a positive change in consumer preferences for leisure and family activities.
“I am also incredibly proud of Winnebago Industries’ unwavering commitment to stewardship of the environment and the communities in which we live and operate. During the quarter, we announced our participation in the United Nations Global Compact – a corporate sustainability initiative designed to advance universal principles on human rights, labor, environment and anti-corruption – and initiated a partnership with Habitat for Humanity, a global housing nonprofit, to support its community-based neighborhood revitalization efforts. These organizations’ missions are clearly aligned with Winnebago Industries’ values and enable more communities to safely and equitably enjoy the outdoors where they live, work and play.”