(Radio Iowa) – Continued success from a diversified portfolio is credited for a positive second quarter financial report for Winnebago Industries. The Minnesota-based outdoor lifestyle products manufacturer, which has Iowa factories in Forest City and Lake Mills, saw net income for the quarter at four-point-eight million dollars, compared to a net loss of 400-thousand dollars in the second quarter of last fiscal year. Winnebago C-E-O Michael Happe says the company starts the second half of its fiscal year on solid footing, a view that holds even as the industry recovery is stubborn.
“We have broadened our portfolio across key segments and price points. We have strengthened the balance sheet and improved financial flexibility,” Happe says. “We have made deliberate decisions to better align our fixed cost base and variable expenses, especially within our RV segments to reflect the reality of today’s demand environment.” Happe says despite some tough economic times, people are still finding a spot in their budget for recreation.
“Participation in outdoor recreation remains strong and is an integral part of our customer’s physical and mental wellness. While our specific industries are operating in a more measured demand environment, the long-term fundamentals of the category, and candidly Winnebago Industries, continue to support sustained engagement and investment over time.” Happe says Winnebago officials will keep a close eye on world events and how they might impact the company.
“We are mindful of the evolving situation in the Middle East,” Happe says, “and while it is too early to assess any direct impact on our businesses, we are monitoring developments closely and their potential impact on consumer demand and input costs.” The Winnebago portfolio also includes the Grand Design and Newmar RV brands, Barletta pontoon boats, and Chris-Craft powerboats.
