Winnebago Industries Reports Fiscal 2026 Q4 and Full Year Results

Winnebago Industries, Inc. (NYSE: WGO) reported fourth quarter and full year fiscal 2026 results on October 21, 2026, citing continued share gains in the motorhome sector through innovation and operational execution. The company stated that recent actions to adjust its manufacturing footprint are expected to drive long-term returns, while its Barletta brand continues to expand its share of the U.S. aluminum pontoon market.

For the fourth quarter of fiscal 2026, net revenues totaled $645.1 million, a decline of 17.0% from $777.3 million in the same period of fiscal 2025. The company attributed the decrease primarily to lower unit volume and product mix, partially offset by selective price adjustments. Gross profit fell 18.6% to $80.7 million, resulting in a gross margin of 12.5%, down 30 basis points from the prior year quarter. Net income was $9.7 million, or $0.34 per diluted share, compared to $13.7 million in the fourth quarter of fiscal 2025. Adjusted earnings per diluted share decreased 31.0% to $0.49 from $0.71 in the prior year period.

Consolidated adjusted EBITDA for the quarter was $32.6 million, representing a 5.1% adjusted EBITDA margin and a decrease of 14.7% from the prior year quarter. Net cash flow from operations reached $142.5 million during the period. The company’s net leverage ratio improved to 2.2x at the end of the quarter.

For the full year fiscal 2026, net revenues were $2,703.9 million, down 3.4% from $2,798.2 million in fiscal 2025. Gross profit amounted to $350.2 million, maintaining a gross margin of 13.0%, consistent with the prior year as volume deleverage was offset by price adjustments. Full year net income rose to $34.5 million from $25.7 million, translating to reported earnings per diluted share of $1.21, an increase of 33.0% from $0.91 in fiscal 2025.

Adjusted earnings per diluted share for the full year increased 7.2% to $1.79 from $1.67 in the prior year. Consolidated adjusted EBITDA grew 2.5% to $125.0 million from $121.9 million in fiscal 2025, representing a 4.6% adjusted EBITDA margin. Net cash flow from operations for the full year was $168.7 million.

President and Chief Executive Officer Michael Happe commented that fiscal 2026 highlighted the resilience of the portfolio and disciplined execution in a challenging retail environment. Happe noted early signs of traction in the Winnebago Motorhome transformation, stabilizing share trends at Grand Design Towables, and growing market penetration for Grand Design Motorized. He added that share growth at Winnebago Towables and continued expansion of Barletta’s market presence reinforce confidence in the long-term earnings potential of the portfolio.

In segment details for the three months ended August 29, 2026, Towable RV net revenues decreased primarily due to lower unit volume and a shift toward lower price-point models, partially offset by selective price adjustments.