Winnebago shares soar 7% on Q1 earnings beat, guidance raise
EDEN PRAIRIE, MINN - On Friday, Winnebago Industries reported first-quarter fiscal 2026 results that exceeded analyst expectations and raised its full-year earnings guidance.
The outdoor lifestyle product manufacturer’s shares jumped 7.44% in pre-market trading after the results.
The RV maker posted adjusted earnings of $0.38 per share for the quarter ended November 29, significantly outperforming the analyst estimate of $0.13. Revenue climbed 12.3% YoY to $702.7 million, well above the consensus estimate of $626.86 million.
"Winnebago Industries performed ahead of our expectations in the first quarter and demonstrated clear progress on our priorities," said Michael Happe, President and CEO. "Although the retail demand environment is dynamic and dealer order patterns remain highly seasonal, we delivered meaningful top-line growth and margin expansion in both our Motorhome and Towable RV segments."
The company’s Towable RV segment saw revenues increase 15.5% to $293.4 million, while Motorhome RV revenues rose 13.5% to $308.5 million. The Marine segment reported a modest 2.2% revenue increase to $92.5 million.
Gross profit margin improved to 12.7%, up 40 basis points from 12.3% in the same quarter last year, primarily due to volume leverage. Adjusted EBITDA more than doubled to $30.2 million, representing a 109.7% increase YoY.
Based on its strong performance, Winnebago raised its fiscal 2026 guidance, now expecting adjusted earnings per share of $2.10 to $2.80, up from its previous forecast of $2.00 to $2.70. The company also increased its revenue outlook to $2.8-3.0 billion from $2.75-2.95 billion previously.
The company improved its financial position, with cash flow from operations of $25.4 million compared to cash used in operations of $16.7 million in the prior-year period. Its net leverage ratio improved to 2.7x from 3.1x at the end of fiscal 2025.
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