| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 702.70 | 12.3% |
| Total Income | 702.70 | 12.3% |
| Expenditure | 688.90 | 10.0% |
| PBT | 8.40 | 225.4% |
| Net Profit | 5.50 | 205.8% |
| OPM | 1.96% | 2.11pp |
| NPM | 0.78% | 1.61pp |
| EPS | 0.19 | 205.6% |
Winnebago Reports Q1 FY2026 Revenue Up 12.3% YoY
04 May 2026 · 4 May, 6:53 am
Summary
Winnebago Industries reported a 12.3% increase in net revenues for the first quarter of Fiscal 2026, reaching $702.7 million. Gross profit margin improved to 12.7%, and the company achieved a net income of $5.5 million, a significant turnaround from the net loss in the same quarter of the previous year. Adjusted EBITDA saw a substantial increase of 109.7%. The company has raised its FY 2026 earnings guidance range, reflecting confidence in its performance and market outlook.
Key Highlights
- 1
Net revenues increased by 12.3% to $702.7 million compared to $625.6 million in the first quarter of Fiscal 2025.
- 2
Gross profit was $89.0 million, with a gross margin of 12.7%, up from 12.3% in the first quarter of Fiscal 2025.
- 3
Net income reached $5.5 million, or $0.19 per diluted share, compared to a net loss of $5.2 million in the first quarter of Fiscal 2025.
- 4
Adjusted EBITDA increased by 109.7% year-over-year to $30.2 million.
- 5
The net leverage ratio improved to 2.7x at quarter-end from 3.1x at Fiscal 2025 year-end.
- 6
Towable RV net revenues increased by 15.5% to $293.4 million.
- 7
Motorhome RV net revenues increased by 13.5% to $308.5 million.
Management Comments
Michael Happe
Winnebago Industries performed ahead of our expectations in the first quarter and demonstrated clear progress on our priorities. Our Motorhome RV segment continued its momentum, propelled by the sustained appeal of our premium Newmar products and the growing presence of our Grand Design motorized offerings. These brands are deepening our reach in both the luxury Class A and core Class C markets, and their performance in the quarter reflects the advantages of our focused innovation roadmap. Our Towable RV segment also posted solid top-line growth and higher operating income margins, supported by a refreshed dual brand lineup that continues to resonate with consumers seeking high quality and thoughtful design. Together, these RV platforms demonstrate the power of our diversified approach and our ability to compete effectively across price bands and use cases. Our continued commitment to financial discipline underscores the strength of Winnebago Industries. Even with macroeconomic uncertainty persisting and industry short-term retail demand still tempered, we expect our second-quarter Fiscal 2026 performance to be stronger than the same period last year, but seasonally lower than the first-quarter results announced today. We continue to focus on relentless, quarter-by-quarter execution supported by new product momentum, efficient inventory management, the revitalization of our Winnebago-branded RV businesses, and clear strategy to prioritize stronger profitability and cash flow across our portfolio. As industry demand gradually recovers, the margin and efficiency improvements we are executing, together with new product offerings, enhance our competitive position and provide a solid foundation for second half success in Fiscal 2026, which is reflected in our positive, but still disciplined guidance outlook.
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