Winnebago Stock Sinks as RV Maker Reports Weak Preliminary Results

Shares of Winnebago Industries (WGO) fell sharply Thursday after the recreational vehicle maker posted preliminary fiscal third-quarter results below analysts’ estimates and said it is “aggressively modifying production schedules and adjusting headcount” due to weak motor-home demand.

In a press release issued ahead of the firm’s participation at the Baird 2025 Global Consumer Technology & Services Conference, Winnebago said for the third quarter ended May 31, it “expects net revenues of approximately $775 million, reported earnings per diluted share in the range of $0.55 to $0.65, and adjusted diluted earnings per share in the range of $0.75 to $0.85.”

Preliminary Earnings Fall Below Analyst Estimates

Analysts surveyed by Visible Alpha were expecting revenue of $799.6 million, earnings per share (EPS) of $1.16, and adjusted EPS of $1.28.

“What began as an encouraging selling season in March was hampered by growing macroeconomic uncertainty, resulting in worsening consumer sentiment and an increasingly cautious dealer network in the final two months of our fiscal third quarter,” CEO Michael Happe said. “In this environment, we have maintained our posture of vigilant inventory management to ensure that production is aligned with current market demand and the needs of our dealer partners.”

Because of “market pressures” felt most acutely in the Winnebago Motorhomes business, Happe said the company has “initiated a range of strategic actions for the remainder of fiscal 2025 to reduce costs and improve profitability over the coming 2026 fiscal year, including aggressively modifying production schedules and adjusting headcount.”

Winnebago Industries shares were down nearly 7% in recent trading and have lost over 30% of their value this year.