RV Maker Winnebago Stock Slides As Unit Volume Falls

Winnebago Industries, Inc. (NYSE:WGO) stock declined on Wednesday after the company reported second-quarter fiscal 2026 results. Winnebago Industries designs and manufactures recreational vehicles (RVs) and marine products, serving as a leading name in outdoor lifestyle travel. The recreational vehicle maker reported adjusted EPS of 27 cents, beating the Street view of 24 cents. Quarterly sales of $657.4 million outpaced the Street view of $627.1 million. Sales rose 6.0% year over year (Y/Y) to $657.4 million, led by selective price adjustments and product mix. President and Chief Executive Officer Michael Happe stated, “While seasonal factors and unfavorable winter weather tempered retail activity during the quarter, several segments still showed signs of resilience.” Segment Performance And Metrics Towable RV sales fell 9.0% Y/Y to $262.4 million. Net revenues decreased primarily due to a shift in product mix toward lower price-point models and a decline in unit volumes. Also, Marine sales dipped 3.0% Y/Y to $79.2 million due to lower unit volume and product mix. Meanwhile, Motorhome RV sales increased 29.3% Y/Y to $304.7 million, primarily due to higher unit volume. In the quarter under review, gross profit reached $85.6 million (+2.9% Y/Y). However, the margin contracted 40 basis points Y/Y to 13.0%, on unfavourable product mix. Winnebago reported adjusted EBITDA of $24.4 million, up 7.0% Y/Y in the quarter. At the end of the quarter, cash and cash equivalents totaled $47.4 million, and total outstanding debt was $442.3 million. Winnebago approved a quarterly cash dividend of 35 cents per share payable on April 29, 2026. Outlook The firm reaffirms its fiscal 2026 adjusted EPS guidance at $2.10 to $2.80 and sales outlook at $2.800 billion to $3.000 billion. The company projects North American RV wholesale shipments of 315,000 to 345,000 units in the fiscal year. Happe added, “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 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.” Price Action: Winnebago Industries shares were down 7.58% at $32.42 during premarket trading on Wednesday, according to Benzinga Pro data. Photo via Shutterstock