On October 22, 2025, Winnebago Industries released its fourth‑quarter and full‑year Fiscal 2025 results, reporting net revenues of $777.3 million—an increase of 7.8% versus $720.9 million in the same quarter of Fiscal 2024. Operating income rose to $20.1 million from a loss of $17.8 million in the prior year’s fourth quarter, while net income reached $13.7 million, up from a loss of $29.1 million. The company posted a reported earnings per diluted share of $0.49 and an adjusted earnings per diluted share of $0.71, both exceeding consensus estimates.
Cash flow and balance‑sheet strength were highlighted in the release. Operating cash flow for the quarter was $181.4 million, and cash and cash equivalents totaled $174.0 million at quarter‑end, up from $10.5 million at the end of the third quarter. Total outstanding debt stood at $540.5 million, with a net leverage ratio of 3.1×, an improvement from 4.8× at the end of the third quarter. The company also reaffirmed its quarterly dividend of $0.35 per share, which was approved by the board on August 14, 2025.
Segment performance underscored the company’s diversified portfolio. Towable RV sales grew modestly, while the Motorhome RV segment saw a rebound in revenue and adjusted EBITDA, driven by the launch of new Grand Design motorhome models. The Marine segment continued to expand, reporting higher revenue and adjusted EBITDA, supported by strong demand for Barletta pontoon boats and Chris‑Craft vessels.
Looking ahead, Winnebago provided Fiscal 2026 guidance, projecting consolidated net revenues between $2.75 billion and $2.95 billion, reported earnings per diluted share of $1.25 to $1.95, and adjusted earnings per diluted share of $2.00 to $2.70. The company emphasized its focus on operational efficiency, inventory discipline, and the continued rollout of its Grand Design motorhome strategy as key drivers of future growth.
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