Winnebago Industries(NYSE) WGO

Winnebago Industries NYSE:WGO makes vehicles and boats for people who enjoy outdoor travel. These products allow families to live and sleep comfortably while away from home. The company helps people explore the outdoors through several different brands.

Homes and Boats on the Move

• Motorhome RV: Self-propelled mobile dwellings such as Class A, B, and C models; accounted for $1,257.5 million of net revenues in fiscal year 2026.
• Towable RV: Non-motorized units like travel trailers and fifth wheels designed to be pulled by personal vehicles; accounted for $1,050.8 million of net revenues in fiscal year 2026.
• Marine: Recreational powerboats and pontoon boats sold under the Chris-Craft and Barletta brands; accounted for $356.4 million of net revenues in fiscal year 2026.
• Battery Solutions: Lithium-ion systems that provide power for internal appliances in recreational vehicles, boats, and industrial products.

Building a Smarter Outdoors

• Acquired Lithionics to provide proprietary battery technology for recreational vehicles and boats.
• Launched the Grand Design motorhome business to expand offerings beyond towable units.
• Repurchased $100.0 million of Senior Secured Notes in fiscal year 2026 to manage long-term debt.
• Renewed a $350.0 million asset-based credit facility on Aug. 20, 2026, to support future operations.

Custom Vehicles and Vertical Integration

Winnebago uses vertical integration for its motorhomes by manufacturing many of its own components. It sells products through a network of over 750 dealer locations across North America and select international markets. The company also builds custom vehicles for specialized uses like mobile medical clinics and law enforcement command centers.

Tracking the 2026 Results

• Net revenues were $2,703.9 million in fiscal year 2026, down 3.4% year over year.
• Net income was $34.5 million in fiscal year 2026, up 34.3% year over year.
• Operating income was $66.2 million in fiscal year 2026, up 15.7% year over year.
• Cash provided by operating activities was $168.7 million in fiscal year 2026 compared to $128.9 million in fiscal year 2025.

Evolution of the Brand

Winnebago has evolved from a traditional motorhome manufacturer into a diversified outdoor lifestyle company. Its expansion into towable units, recreational powerboats, and battery technology has widened its reach across the leisure market.