Wed, Oct 23, 8:30 PM (71 days ago)
**Winnebago Industries, Inc. (WGO) 2024 Annual Report Summary** For the fiscal year ending August 31, 2024, Winnebago Industries, Inc. reported net revenues of $2,973.5 million, a decrease of 14.8% from $3,490.7 million in 2023, driven by lower unit sales amid challenging economic conditions. Gross profit fell 26% to $433.5 million, with an operating income of $100.2 million, down 66.7%. The company faced increased operating expenses, including a $30.3 million goodwill impairment related to its Chris-Craft unit. Net income plummeted 94% to $13 million, translating to diluted earnings per share of $0.44. Winnebago's strategic focus includes enhancing product offerings and maintaining dealer relationships. The company anticipates stabilization in consumer demand, despite current economic uncertainties. Risks include reliance on dealer financing, competition, and supply chain vulnerabilities, particularly in chassis and component sourcing. The company maintains a solid financial condition with $330.9 million in cash and no borrowings against its $350 million revolving credit facility. Winnebago's market position remains strong, with a focus on innovation and sustainability initiatives, as it navigates a challenging market landscape.