Top

Winnebago 2Q Sales Up 35% as Demand Rises

March 28, 2013 by · Leave a Comment 

Benefiting from heightened motorhome demand driven by an improving economic environment, Winnebago Industries Inc. swung to a profit in its fiscal second quarter on a 34.6% gain in revenue.

Sales for the second quarter, ended March 2, totaled $177.2 million versus $131.6 million for the second quarter of fiscal 2012. The Forest City, Iowa-based builder reported net income of $6.3 million, or 22 cents per diluted share, versus a loss of $912,000, or 3 cents per diluted share, the previous year. Second-quarter operating income was $8.9 million compared to an operating loss of $1.2 million a year ago.

The company said earnings in the second quarter were positively impacted by increased motorized demand driving higher sales volume. The added sales volume, combined with firmer net pricing, increased manufacturing productivity and fixed cost leverage, resulted in higher operating margins, net income and earnings per share.

Revenue for the first 27 weeks of fiscal 2013 were $370.7 million, an increase of 40.7%, versus revenues of $263.4 million for the first 26 weeks of fiscal 2012. Net income for the first half of fiscal 2013 was $13.7 million, or 48 cents per diluted share, versus $123,000, or 0 cents per diluted, share for the first half of fiscal 2012. Operating income during the period was $18.8 million versus operating loss of $537,000 the previous year.

“We had very positive comparisons this year versus the first half of fiscal 2012,” said Winnebago Industries Chairman, CEO and President Randy Potts. “Our motorhome sales growth continues to out-pace the industry. As evidenced by the heightened level of our sales order backlog, we continue to see great response to our products from our dealer partners as well as from retail consumers.”

Potts continued, “We believe the motorized RV market will continue to grow toward pre-recession levels. Improved economic indicators such as rising housing starts, lower unemployment and attractive interest rates should create a positive environment going forward.”

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

Winnebago Motorhome Backlog Nearly Triples

March 28, 2013 by · Leave a Comment 

The strength and profitability of Winnebago’s motorhome business during its fiscal second quarter – punctuated by a backlog that nearly tripled from a year ago – outweighed “sustained underperformance” in the company’s still evolving towable division.

In a conference call today (March 28) delivered in the wake of a report that showed a 34.6% sales increase and a swing to a $6.3 million profit, the Forest City, Iowa-based firm touted the results from its motorhome operations that yielded a “positive comparison in nearly every aspect of the business,” according to Chairman, CEO and President Randy Potts.

“Our motorhome products are in high demand and continue to outpace the industry, which has resulted in an increase in motorhome backlog over the last five quarters,” Potts said, noting that the year-to-date backlog stood at 2,752 units.

Accordingly, production lines “are completely filled and running,” reported Vice President and CFO Sarah Nielsen, a situation that has also spurred a spike in hiring. “With the pace that we’re running, we are behind where we want to be on head count,” she said, “but we are still looking to expand our run rates and work force.”

Nielsen also pointed to higher gross margins during the quarter compared to a year ago, primarily achieved through a reduction in discounting of product.

Potts stressed, however, that the lack of Class A gas chassis from Ford Motor Co., the industry’s key supplier, continued to pose a challenge. “It represents a constraint on the entire industry, and it appears to be a constraint for the foreseeable future based on demand and what Ford says it can supply,” he said.

Looking forward, Potts offered a progressive outlook for motorhome demand, stating, “We believe the motorized RV market will continue to grow toward pre-recession levels. Improved economic indicators such as rising housing starts, lower unemployment and attractive interest rates should create a positive environment going forward.”

On the towable side, Winnebago continues to operate in the red, incurring an operating loss of $850,000 in the second quarter, according to Nielsen. Winnebago launched its towable group with the acquisition of Middlebury, Ind.-based SunnyBrook Manufacturing Inc. in December of 2010.

“This is not acceptable,” Nielsen said, pointing to the adverse effects of increased warranty expense coupled with one-time employee separations. “We are addressing these issues, including several management changes and the closing of one of two assembly plants. We have also centralized warranty and service operations to Iowa.”

Demonstrating the gap in divisions, motorhome deliveries for the quarter rose 42% to 1,419 units while towables edged up just 2.5% to 548 units.

The most high-profile personnel change was the recent promotion of industry veteran Johnny Hernandez as president of Winnebago Towables, replacing Elvie Frey, former president of SunnyBrook. “With these improvements, our goal is to achieve break-even results in the fiscal fourth quarter,” Nielsen said.

Potts added that the towable market still represents a “tremendous opportunity” for Winnebago. “Many parts of our strategy have worked well, but there are parts that didn’t work out,” he said. “We have a number of details that need to be shored up.”

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

SSI: Motorhomes Sales Rise 22.5% in January

March 13, 2013 by · Leave a Comment 

Year-over-year motorhome registrations were up 22.5% in January, according to the latest report from Statistical Surveys Inc.

Thor Industries Inc. (23%) edged out Winnebago Industries Inc. (21.1%) for the No. 1 spot in January motorhome registrations, followed by Tiffin Motorhomes Inc. (11.5%) and Forest River Inc. (11.4%).

In the Class A category, January sales rose 24.7% compared with 2012. Winnebago led the category, posting a 22.9% market share, while Thor held a 20.9% share and Tiffin was No. 3 with an 17.8% share.

Class C sales grew 18.7% in January with Thor leading the category with a 26.8% market share, followed by Forest River (20.7%). Winnebago and Forest River’s Coachmen RV division tied for the No. 3 spot with a 17.9% share.

A small number of rental registrations, predominantly Class C sales, rose 8% in January.

To subscribe to this or other SSI reports, contact Scott Stropkai, national RV sales manager, at (616) 281-9898 ext 128, or (616) 446-8179 (cell).

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

Motorhomes See A Revival as Buyers Step Up

March 1, 2013 by · Leave a Comment 

Bill and Jill Phipps shuttle between homes around the country to keep in touch with grandchildren. But, according to a report by USA Today, they got tired of crating up Rockne, their Irish Wolfhound mutt, for seven-hour plane rides.

So, with some trepidation, the Tucson couple recently became first-time RVers.

They took delivery of a new 24-foot motorhome a couple of months ago, contributing to a wave of sales that are lifting an industry rebounding from the depths of recession.

Deliveries of motorhomes from manufacturers to dealers rose 13.6% last year and are expected to climb by almost the same amount this year, the Recreation Vehicle Industry Association (RVIA) reports. Last year marked the third year of increases from a recessionary bottom that that saw sales fall to the lowest levels since at least the 1970s.

With the spring RV-buying season approaching, there’s a growing optimism in the business that affluent families and retirees such as the Phipps are ready to take the plunge. After a round of consolidation, including bankruptcy filings by a couple of the industry’s big names, motorhome makers are starting to hit the road again.

That’s good not only for the RV industry but for the economy in general. Purpose-built motorhomes typically retail for more than $100,000 and because they’re used for vacations, they’re the ultimate discretionary purchase. The pickup in sales is an early indicator that people might be willing to start spending again — and not just on big-ticket items they can’t do without.

But it’s also an American comeback story: Almost all RV rigs are U.S.-made, many in Indiana. Unlike the auto industry, motorhome makers have few foreign competitors, although some are starting to knock at the door.

“People are tired of waiting for things to turn around,” says Sheila Davis, spokeswoman for Winnebago Industries Inc. Some customers “who could have bought a motorhome during the downturn … chose to wait. Now, they are feeling more confident.”

That confidence is bolstered by waves of retiring Baby Boomers, their 401(k)s fattened by the stock market’s recent rally, who always dreamed of roaming the hinterlands. Working against motorhome makers, however, is the painfully slow pace of the recovery and persistently high and unpredictable fuel prices.

To read the entire article in USA Today click here.

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

Winnebago Ranks as Motorhome Sales Leader

February 14, 2013 by · Leave a Comment 

Winnebago Industries Inc. has been recognized by Statistical Surveys Inc. as the top performing motorhome manufacturer with both the largest volume and the largest overall growth in motorhome retail registrations during calendar 2012, the company stated in a press release.

In the U.S. motorhome retail registration report issued yesterday by Statistical Surveys for December of 2012, Forest City, Iowa-based Winnebago was listed as the top selling manufacturer for Class A and Class C motorhomes in calendar 2012, with market share of 20.6% compared to 19.0% for calendar 2011. Winnebago Industries’ volume growth was 16.1% above retail registrations during calendar 2011 compared to industry growth of 7.3%.

In the U.S. Class A market segment, Winnebago Industries is also the top-selling market leader with 22.2% for calendar 2012. In addition, the Company also led the U.S. Class A gas market segment with 24.2% market share, grew U.S. Class A diesel market share to 19.4% and U.S. Class C market share to 18.5% for calendar 2012.

“We are passionate about developing and delivering innovative new products of the highest quality backed by best-in-class support after the sale,” said Winnebago Vice President of Sales and Product Management Scott Degnan. “These dynamic retail statistics both confirm and continue to fuel that drive. Thanks to our industry leading and loyal dealer network along with the hard work of our employees, we are establishing new, higher benchmarks for ourselves. We congratulate our dedicated employees and our strong dealer partners in achieving this top selling position. We will continue to work diligently to develop exciting new products and to provide industry-leading support for our dealers and retail customers.”

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

SSI: Motorhome Sales Post 7.3% Gain for 2012

February 14, 2013 by · Leave a Comment 

Year-over-year motorhome registrations were up 1.6% in December while sales for the full year increased 7.3%, according to the latest report from Statistical Surveys Inc.

Winnebago Industries Inc. (20.6%) edged out Thor Industries Inc. (20%) for the No. 1 spot in 2012 motorhome registrations, followed by Forest River Inc. (12%) and Fleetwood RV Inc. (11.4%).

In the Class A category, December sales rose 4.5% compared with 2011 and were up 6.5% for the 12 months. Winnebago led the category for the full year, posting a 22.2% market share, while Tiffin Motorhomes Inc. held a 19.6% share and Thor was No. 3 with an 18.7% share.

Class C sales dipped 3.8% for the month but grew 8.4% year-to-date. Thor led the category for the 12 months with a 21.7% market share, followed by Forest River (18.7%), Winnebago (18.5%) and Forest River’s Coachmen RV division (18.1%).

Rental registrations, predominantly Class C sales, rose 87% in December but were down 15% for the year.

To subscribe to this or other SSI reports, contact Scott Stropkai, national RV sales manager, at (616) 281-9898 ext 128, or (616) 446-8179 (cell).

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

SSI: November Motorhome Sales Flat, Fall 0.4%

January 11, 2013 by · Leave a Comment 

Year-over-year motorhome registrations were flat in November, down just 0.4%, while sales for the 11 months increased 7%, according to the latest report from Statistical Surveys Inc.

Winnebago Industries Inc. (20.4%) edged out Thor Industries Inc. (20.1%) for the No. 1 spot in year-to-date motorhome registrations, followed by Forest River Inc. (12.1%) and Fleetwood RV Inc. (11.5%).

In the Class A category, November sales edged down 2.2% compared with 2011 and were up 5.9% for the 11 months. Winnebago led the category through November, posting a 22% market share, while Tiffin Motorhomes Inc. held a 19.5% share and Thor was No. 3 with an 18.7% share.

Class C sales grew 2.9% for the month and 8.5% year-to-date. Thor led the category for the 11 months with a 21.9% market share, followed by Forest River (18.4%), Winnebago (18.3%) and Forest Rivers Coachmen RV division (18.1%).

A low volume of rental registrations, all Class C sales, rose 67% in November.

To subscribe to this or other SSI reports, contact Scott Stropkai, national RV sales manager, at (616) 281-9898 ext 128, or (616) 446-8179 (cell).

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

SSI: Oct. Motorhome Sales Notch 5.1% Growth

December 11, 2012 by · Leave a Comment 

Year-over-year motorhome registrations increased 5.1% in October and 7.3% for the first 10 months, according to the latest report from Statistical Surveys Inc.

Thor Industries Inc. ranked as the motorhome sales leader year-to-date with a 20.2% market share, followed by Winnebago Industries Inc. (20.1%) and Forest River Inc. (12.1%).

In the Class A category, registrations in October were up 4.1% compared with 2011 and 6.2% year-to-date. Winnebago led the category through October, posting a 21.8% market share, while Tiffin Motorhomes Inc. held a 19.7% share and Thor was No. 3 with an 18.6% share.

Class C sales grew 6.7% for the month and 8.6% year-to-date. Thor led the category for the 10 months with a 22.2% market share, followed by Forest River’s Coachmen RV division (18.4%), Forest River (18.3%) and Winnebago (17.9%).

A low volume of rental registrations, primarily Class C sales, fell 33% in October.

To subscribe to this or other SSI reports, contact Scott Stropkai, national RV sales manager, at (616) 281-9898 ext 128, or (616) 446-8179 (cell).

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

SSI: Coach Sales up 14% for 3Q, 3.7% in Sept.

November 15, 2012 by · Leave a Comment 

Year-over-year motorhome registrations edged up 3.7% in September and 6.9% for the first nine months, according to the latest report from Statistical Surveys Inc. Sales increased 14.1% for the third quarter.

Thor Industries Inc. ranked as the motorhome sales leader year-to-date with a 20.4% market share, followed by Winnebago Industries Inc. (19.9%) and Forest River Inc. (12%).

In the Class A category, registrations in September dipped 3.5% compared with 2011, while sales were up 5.8% for the nine months. Winnebago led the category year-to-date, posting a 21.7% market share, while Tiffin Motorhomes Inc. held a 19.8% share and Thor was No. 3 with an 18.7% share.

Class C sales grew 16% for the month and 8.3% year-to-date. Thor led the category through September with a 22.5% market share, followed by Forest River’s Coachmen RV division (18.6%), Forest River (17.9%) and Winnebago (17.7%).

A low volume of rental registrations, primarily Class C sales, fell 57% in September.

To subscribe to this or other SSI reports, contact Scott Stropkai, national RV sales manager, at (616) 281-9898 ext 128, or (616) 446-8179 (cell).

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

SSI: Motorhome Sales Post 7.5% Rise in August

October 11, 2012 by · Leave a Comment 

Year-over-year motorhome registrations increased 7.5% in August while sales rose 5.9% for the first eight months, according to the latest report from Statistical Surveys Inc.

Thor Industries Inc. ranked as the motorhome sales leader year-to-date with a 20.7% market share, followed by Winnebago Industries Inc. (19.7%) and Forest River Inc. (12.2%).

In the Class A category, registrations in August gained 5.9% compared with 2011, while sales were up 6.2% for the eight months. Winnebago led the category year-to-date, posting a 21.7% market share, while Tiffin Motorhomes Inc. held a 20% share and Thor was No. 3 with an 18.5% share.

Class C sales grew 9.8% for the month and 5.6% year-to-date. Thor led the category through August with a 23.2% market share, followed by Forest River’s Coachmen RV division (19%) and Forest River (18.1%).

Rental registrations, primarily Class C sales, fell 69% in August.

To subscribe to this or other SSI reports, contact Scott Stropkai, national RV sales manager, at (616) 281-9898 ext 128, or (616) 446-8179 (cell).

 

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon]

« Previous PageNext Page »

Bottom