Winnebago Industries (NYSE:WGO) Releases Quarterly Earnings Results

26 Mar 2026, 14:12 by Danessa Lincoln · The Markets Daily

Winnebago Industries (NYSE:WGO – Get Free Report) posted its quarterly earnings data on Wednesday. The RV manufacturer reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03, FiscalAI reports. The firm had revenue of $657.40 million for the quarter, compared to analyst estimates of $628.00 million. Winnebago Industries had a net margin of 1.27% and a return on equity of 4.83%. Winnebago Industries’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.19 EPS.

Here are the key takeaways from Winnebago Industries’ conference call:

Company reports consolidated net revenues up ~6% year‑over‑year, operating income improved 51% and adjusted EPS was $0.27 (up 42%); they reiterated FY26 guidance (net revenues $2.8–$3.0B, adjusted EPS $2.10–$2.80) and redeemed $100M of high‑coupon notes to cut leverage.
Motorhome segment showed strong momentum with Q2 net revenues +29% and a 270 bp improvement in operating margin to 2.4%, and management expects continued motorhome strength into the back half of the year.
Towable and Marine businesses remain pressured: Towable revenues declined ~9% with margin pressure and higher dealer inventory tied to new product introductions, while Marine revenues fell ~3% and margins dropped ~300 bps due to warranty and volume deleverage; management expects full‑year Towable softness and Marine revenues below prior year.
Inventory turns were ~1.5x at quarter end with a stated goal of about 2.0x by calendar 2026; management is taking a cautious, retail‑driven production stance to align dealer stocking with expected seasonal retail improvement.
Strategic initiatives include multiple new product rollouts across brands, focus on higher‑value segments (Class A/C diesel and Super C), and expansion of the acquired Lithionics mobile power business—which management says is high‑margin, gaining OEM and aftermarket traction, and extends into marine and work‑vehicle applications.

Winnebago Industries Stock Performance

Shares of WGO stock opened at $32.17 on Thursday. Winnebago Industries has a 52 week low of $28.00 and a 52 week high of $50.16. The company has a quick ratio of 1.25, a current ratio of 2.69 and a debt-to-equity ratio of 0.44. The company has a market cap of $907.73 million, a P/E ratio of 25.16 and a beta of 1.14. The business has a 50 day moving average of $42.35 and a two-hundred day moving average of $38.75.

Winnebago Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, April 15th. Winnebago Industries’s dividend payout ratio is currently 109.37%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of Winnebago Industries by 90.5% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 766 shares of the RV manufacturer’s stock valued at $26,000 after purchasing an additional 364 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Winnebago Industries by 15.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,255 shares of the RV manufacturer’s stock valued at $75,000 after buying an additional 309 shares during the period. State of Wyoming increased its stake in Winnebago Industries by 151.4% during the 2nd quarter. State of Wyoming now owns 3,406 shares of the RV manufacturer’s stock valued at $99,000 after buying an additional 2,051 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Winnebago Industries during the 2nd quarter worth about $100,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in shares of Winnebago Industries by 3,661.8% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,558 shares of the RV manufacturer’s stock worth $104,000 after acquiring an additional 2,490 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WGO. Roth Mkm lifted their price objective on Winnebago Industries from $36.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, December 22nd. Truist Financial raised their price target on Winnebago Industries from $46.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Benchmark boosted their price target on Winnebago Industries from $42.00 to $48.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Robert W. Baird reduced their price objective on Winnebago Industries from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Citigroup increased their price objective on Winnebago Industries from $51.00 to $54.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Four research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.50.

Read Our Latest Report on Winnebago Industries

Key Headlines Impacting Winnebago Industries

Here are the key news stories impacting Winnebago Industries this week:

Positive Sentiment: Revenue and adjusted profitability showed improvement: net revenue rose ~6% y/y to $657.4M and adjusted EPS improved materially versus last year, supported by price discipline and new motorhome products. Press Release
Positive Sentiment: Balance‑sheet action: management redeemed $100M of senior secured notes, lowering gross/net leverage and signaling priority on deleveraging. That improves medium‑term credit profile even though it reduced cash. Press Release
Neutral Sentiment: Company maintained fiscal 2026 revenue and adjusted EPS guidance (adjusted EPS $2.10–$2.80) and declared the $0.35 quarterly dividend — a signal of management confidence but still dependent on seasonal demand. Guidance & Dividend
Neutral Sentiment: Analyst views remain mixed: BMO kept an Outperform but cut its PT to $48; Robert W. Baird cut its PT to $42 and moved to Neutral — these changes temper upside expectations but keep institutional debate active. Analyst Notes
Negative Sentiment: GAAP EPS and headline messaging caused confusion: GAAP EPS was about $0.17 while adjusted EPS reported higher — some transcripts/coverage emphasize a miss vs. street GAAP expectations, which triggered short‑term selling pressure. Earnings Call / Transcript
Negative Sentiment: Liquidity reduced: cash fell to ~$47M after the note redemption, raising near‑term cash‑runway questions as WGO heads into seasonally stronger months (even though leverage improved). Balance Sheet Detail
Negative Sentiment: Segment weakness and inventory trends: Towable RV and Marine showed lower volumes and margin pressure while dealer inventories rose in some categories — a drag if retail demand doesn’t pick up this spring. Segment Results

Winnebago Industries Company Profile

(Get Free Report)

Winnebago Industries, Inc is a leading manufacturer of recreational vehicles (RVs) and specialty vehicles, headquartered in Forest City, Iowa. Since its founding in 1958, the company has gained recognition for its motorhomes, travel trailers and fifth-wheel products under the Winnebago and Grand Design brands. Its portfolio also includes towable RVs, camper vans and commercial vehicles tailored for healthcare, government and mobile retail applications.

In addition to vehicle production, Winnebago Industries maintains an extensive dealer and service network across the United States and Canada, supplemented by parts distribution centers and customer support resources.