Winnebago Industries of Forest City announces record fiscal year.
The company that makes motorhomes, trailers and other outdoor products made a profit of nearly $ 282 million in fiscal 2021, which ended in late August.
This is a 359% increase from over $ 61 million in fiscal 2020.
Revenue for fiscal 2021 was $ 3.6 billion, an increase of 54% from $ 2.4 billion in fiscal year ’20. Winnebago CEO Michael Happe (HAPPY) said the record numbers are the result of strong consumer demand for the company’s products.
âWinnebago Industries’ market share expansion trend accelerated in the fourth quarter, gaining 2.1 percentage points per share in the three-month period ending in August,â Happe said. âIt is important to note that this is driven by new and experienced consumers who have recognized the differentiated quality and innovation of Winnebago Industries’ brand portfolio, as well as the exceptional service we are known to provide in partnership with our dealers. . “
Happe says the company was able to take advantage of the shift in more people wanting to experience the great outdoors, which began just before the pandemic, and he expects that trend to continue in the future.
âMore than 10 million homes camped for the first time in 2020, and we are heading towards an additional 4.3 million homes that will have their first camping experience in 2021,â Happe said. âIn addition to newbies, a new wave of committed enthusiasts, especially millennials and younger generations, are investing more of their time and income in the outdoor lifestyle. “
For the fourth quarter, Winnebago finished with a profit of $ 84.1 million, a 98% increase from $ 42.5 million in the fourth quarter of last year for recreational vehicle maker Winnebago, Grand Design and Newmar as well as Chris-Craft and Barletta boats. .
(By Bob Fisher, KRIB, Mason City)