In This Article:
Winnebago Industries WGO reported adjusted earnings of 19 cents per share in second-quarter fiscal 2025 (ended March 1, 2025), in line with the Zacks Consensus Estimate. WGO reported earnings of 93 cents per share in the year-ago period. The recreational vehicle (RV) maker reported revenues of $620.2 million for the quarter under review, which surpassed the Zacks Consensus Estimate of $609 million. The top line, however, declined 11.8% year over year.
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Winnebago Industries, Inc. Price, Consensus and EPS Surprise
Winnebago Industries, Inc. price-consensus-eps-surprise-chart | Winnebago Industries, Inc. Quote
Segmental Performance
Towable RV: Revenues in the Towable RV segment rose 1.2% year over year to $288.2 million on higher volume. The metric also surpassed our estimate of $244.3 million. Total deliveries from the segment came in at 7,225 units, which increased 7.1% year over year and topped our estimate of 5,655 units. Adjusted EBITDA declined 36.5% to $17 million owing to product mix, high warranty expenses and input costs. The figure, however, came above our estimate of $16.7 million.
Motorhome RV: Revenues in the Motorhome RV segment decreased 30.4% year over year to $235.6 million due to a decline in unit volume. The top line missed our estimate of $271.3 million. Total deliveries from the Motorhome RV segment came in at 1,144 units, falling 36.8% year over year and missing our estimate of 1,443 units. The segment recorded an adjusted EBITDA of $5.2 million, down 79.8% due to volume deleverage. The metric also missed our estimate of $7.9 million.
Marine: Revenues from the segment totaled $81.7 million, up 17.1% year over year, primarily due to increased volume. The metric, however, fell short of our estimate of $92.7 million. The total deliveries from the segment came in at 1,046 units, up 21.3% year over year, but missed our estimate of 1,151 units. The segment recorded an adjusted EBITDA of $7.7 million, up 75.7% year over year due to targeted price increases, leverage and operational efficiencies. It also surpassed our expectation of $5.8 million.
Financials & Outlook
Winnebago had cash and cash equivalents of $115.5 million as of March 1, 2025. Long-term debt (excluding current maturities) totaled $539.4 million.
During the quarter under review, WGO bought back shares worth $20 million.
WGO now expects its fiscal 2025 consolidated revenues in the band of $2.8-$3 billion, down from the prior expectation of $2.9-$3.2 billion. Adjusted EPS is now estimated between $2.75 and $3.75 compared with the prior guided range of $3.10-$4.40.