Winnebago Industries manufactures outdoor recreation products through brands that include Winnebago, Grand Design, Chris-Craft, Newmar and Barletta. Its portfolio spans motorhomes, travel trailers, fifth-wheel products, outboard and sterndrive powerboats, pontoons and commercial community outreach vehicles used in leisure travel and outdoor recreation.
Company news commonly covers quarterly results, RV and marine product introductions, dealer and customer demand trends, capital allocation actions, dividends, debt management, board and governance updates, brand partnerships and recognition for its boating businesses. Updates also reference product mix, unit volume, warranty expense, cost controls and new-model activity across the motorhome, towable RV and marine categories.
Winnebago Industries (NYSE:WGO) announces the retirement of Matt Miller, President of Newmar Corporation, effective September 3, 2021. Miller will transition to a strategic advisor role. His leadership since 2006 has been pivotal in enhancing Newmar's reputation and market share in the Class A Diesel sector. Brian Hazelton, previously Senior VP of Winnebago-brand RVs, will succeed him on August 27, 2021. Hazelton's experience and commitment to product development and dealer relations is expected to drive further growth in Newmar's quality products.
Winnebago Industries (NYSE: WGO) announced a quarterly cash dividend of $0.18 per share, a 50% increase from the previous quarter, payable on September 29, 2021, for common stockholders of record by September 15, 2021. This marks the company's 29th consecutive quarter of dividends, reflecting its strong financial position. Additionally, Winnebago will relocate its corporate headquarters from Forest City, Iowa to Eden Prairie, Minnesota, effective December 1, 2021, without job loss, further demonstrating commitment to growth and community support.
Winnebago Industries (WGO) announced its acquisition of Barletta Pontoon Boats for $255 million in cash and stock, with potential additional payments up to $65 million based on performance milestones. This deal enhances Winnebago's marine platform, expanding into the growing pontoon market, which has seen a double-digit CAGR over the past decade. Barletta, recognized for quality and innovation, achieved $120.6 million in revenue in 2020 and projects $214.6 million in 2021. The acquisition is expected to be accretive to earnings starting in the first year post-closing.
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Winnebago Industries reported record revenues of $960.7 million in Q3 FY2021, a 138.7% increase from $402.5 million in Q3 FY2020. Gross profit surged 429.6% to $169.6 million, and net income reached $71.3 million, compared to a loss of $(12.4) million last year. The company also posted record diluted EPS of $2.05 and adjusted EPS of $2.16. Backlogs reflect strong consumer demand, with RV market share at 12.5%. A quarterly dividend of $0.12 per share was declared, payable June 30, 2021.
Winnebago Industries (NYSE: WGO) is set to release its third quarter Fiscal 2021 earnings on June 23, 2021, before the market opens. A conference call will follow at 9:00 a.m. CDT to discuss the financial results.
Investors can listen live on the company’s website, with a replay available for 90 days post-event. Winnebago is recognized for its outdoor lifestyle products, including motorhomes, travel trailers, and boats, operating multiple facilities across various states.
Winnebago Industries announced a $0.12 quarterly cash dividend per share on May 19, 2021. The dividend is payable on June 30, 2021, to stockholders of record as of June 16, 2021. This decision reflects the company's commitment to returning value to its shareholders while continuing to support its operations in outdoor lifestyle products, including motorhomes and boats.
Winnebago Industries (NYSE: WGO) has joined over 12,000 global signatories of the United Nations Global Compact, enhancing its commitment to corporate sustainability. This initiative promotes principles on human rights, labor, the environment, and anti-corruption. Winnebago aims to integrate these principles into its strategy and contribute to the UN's Sustainable Development Goals. The company also emphasizes its focus on environmental sustainability, diversity, and equity, supported by its 2020 Corporate Responsibility Report.
Winnebago Industries (WGO) reported record revenues of $839.9 million for Q2 Fiscal 2021, a 34.0% increase year-over-year. Gross profit surged 96.3% to $156.6 million, with gross margin expanding by 590 basis points to 18.6%. Diluted EPS rose to $2.04, a 300.0% increase. The Towable segment generated revenues of $439.3 million, up 55.0%, while the Motorhome segment reached $382.6 million, a 17.5% rise. Backlogs increased significantly, indicating strong consumer demand. A cash dividend of $0.12 per share was approved for April 2021.
Winnebago Industries, Inc. (NYSE: WGO) announced the appointment of Jacqueline Woods and Kevin Bryant to its Board of Directors, effective March 17, 2021. These appointments come as part of the company's strategy to enhance its board with diverse expertise. Woods, previously with NielsenIQ and IBM, will contribute her marketing and customer insight skills, while Bryant, COO of Evergy, brings extensive financial and operational experience. The new directors aim to support Winnebago's growth in the outdoor lifestyle sector.