KDSN RADIO News
Winnebago sees net revenue for the quarter drop 12% from a year ago
Despite another quarter of falling net revenues, the leader of Winnebago Industries remains optimistic about the future.
The outdoor lifestyle products manufacturer — which has factories in Forest City and Lake Mills — reports net revenue for the second quarter at more than $ 620 million, a drop of more than $ 5 million from the first quarter and down nearly 12 percent from the second quarter last year.
Winnebago CEO Michael Happe says that despite economic challenges in the market, the company’s business is healthy.
“We are bringing exciting new products to market across our entire RV and marine portfolio and building a foundation for organic growth as the outdoor recreation industry rebounds,” Happe says. “Each of our five organic brands have significant potential during a market recovery into a mid-cycle climate in the future.”
Happe says the fiscally responsible manner in which Winnebago has been managed has been a cornerstone of the company’s success.
“Over the years, (Chief Financial Officer) Bryan (Hughes) and I have been proud to lead our entire team in maintaining a strong balance sheet, ensuring financial stability and flexibility,” Happe says. “This strategic approach has allowed us to navigate economic fluctuations effectively while investing in innovation and positioning ourselves for long-term growth.”
Happe says the focus of the company for the remainder of the fiscal year and beyond is to capitalize on opportunities.
“Seize opportunities that fit our strengths, expand our offerings to improve customer value where we should, and strengthen our overall market presence with stronger products, dealer relationships, and brand presence,” Happe says. “Those are the most effective ways to ensure we enhance the value of Winnebago Industries for all of our stakeholders.”
Gross profit for the company for the quarter was just over $ 83 million, a decrease of 21% compared to the second quarter last year.
(Bob Fisher, KLKK, Clear Lake)
