| Metric | Value ($ M) | vs Q1 FY26 |
|---|---|---|
| Revenue | 657.40 | 6.5% |
| Total Income | 657.40 | 6.5% |
| Expenditure | 645.60 | 6.3% |
| PBT | 5.40 | 35.7% |
| Net Profit | 4.80 | 12.7% |
| OPM | 1.79% | 0.17pp |
| NPM | 0.73% | 0.05pp |
| EPS | 0.17 | 10.5% |
Winnebago Reports Q2 FY2026 Revenue $657.4M, Up 6.0% YoY
04 May 2026 · 4 May, 12:21 am
Summary
Winnebago Industries reported a 6.0% increase in net revenues to $657.4 million for the second quarter of Fiscal 2026, driven by price adjustments and product mix. Gross profit increased by 2.9% to $85.6 million, with a gross margin of 13.0%. Net income improved to $4.8 million, or $0.17 per diluted share, compared to a net loss in the prior year. The company reaffirmed its Fiscal 2026 revenue guidance between $2.8 billion and $3.0 billion, while updating reported EPS guidance to $1.50 to $2.20.
Key Highlights
- 1
Net revenues reached $657.4 million, a 6.0% increase compared to $620.2 million in the second quarter of Fiscal 2025.
- 2
Gross profit was $85.6 million, up 2.9% from $83.1 million in the second quarter of Fiscal 2025, with a gross profit margin of 13.0%.
- 3
Net income was $4.8 million, or $0.17 per diluted share, compared to a net loss of $0.4 million, or $0.02 per diluted share in the second quarter of Fiscal 2025.
- 4
Adjusted earnings per diluted share increased by 42.1% to $0.27, compared to $0.19 in the second quarter of Fiscal 2025.
- 5
Adjusted EBITDA increased by 7.0% to $24.4 million, compared to $22.8 million in the second quarter of Fiscal 2025.
- 6
The company redeemed $100 million of outstanding Senior Secured Notes, strengthening the balance sheet.
- 7
Winnebago Industries maintains its Fiscal 2026 revenue guidance in the range of $2.8 billion to $3.0 billion.
Management Comments
Michael Happe
Our team delivered a solid quarter and executed with diligence in a challenging market. Dealers remain focused on profitable cash flow and disciplined inventory, and we are managing the business with that sentiment in mind. While seasonal factors and unfavorable winter weather tempered retail activity during the quarter, several segments still showed signs of resilience. As we move through Fiscal 2026, we continue to prioritize operational execution and strengthening the fundamentals of the business. Our premium branded diversified portfolio continues to help navigate variability across categories, and we are executing each business with a clear focus on prudent inventory management, product innovation, profitability and cash flow. Consistent with our capital allocation framework, we took proactive steps during the quarter to improve our capital structure, redeeming $100 million of our outstanding Senior Secured Notes, demonstrating our commitment to further strengthening our balance sheet. As we move beyond the winter selling season into the seasonally stronger spring and summer months, new products and cost management actions implemented this year are expected to support our performance anticipated in the second half. We believe this approach positions the business for healthier, more resilient growth in the future. Our outlook reflects that measured view. However, it remains subject to recent macro events and the duration and severity of their potential effects, including impacts on commodity prices and other factors that could influence consumer sentiment and demand. Our focus remains on disciplined execution in Fiscal 2026 and controlling what we can. We are advancing our product roadmaps, driving continued progress in our Winnebago-branded RV businesses, and meaningfully improving the margin profile and retail share trends of our Motorhome RV segment. The value of our diversified platform, combined with the operational work already underway, positions us to navigate ongoing market volatility and build a more resilient earnings profile over time. While the external environment remains quite uncertain, we’re confident in the foundation we’ve built and the actions within our control.
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