In This Story
Winnebago Industries, Inc. has submitted its 10-Q filing for the quarterly period ended March 1, 2025.
The filing includes financial statements for the quarter, showing net revenues of $620.2 million, a decrease from $703.6 million in the same quarter the previous year. The decline in revenue is attributed to a reduction in average selling price per unit related to product mix, partially offset by targeted price increases.
Cost of goods sold for the quarter was $537.1 million, representing 86.6% of sales, compared to 85.0% in the same quarter of the previous year. This increase in cost ratio is due to deleverage associated with product mix.
The company reported a gross profit of $83.1 million for the quarter, compared to $105.3 million in the previous year, with the decline attributed to product mix and operational efficiencies.
Selling, general, and administrative expenses increased to $69.7 million from $64.2 million, primarily due to the mix of incentive-based compensation plans and investments to support growth.
Net loss for the quarter was $0.4 million, down from a net income of $12.7 million in the previous year. The loss is attributed to lower operating income and increased interest expenses.
Cash used in operating activities was $27.2 million, while cash used in investing and financing activities was $15.2 million and $173.0 million, respectively.
Winnebago had a working capital of $438.4 million as of March 1, 2025. The company believes its cash flow from operations, existing lines of credit, and access to debt and capital markets will be sufficient to meet its current liquidity needs.
The filing also details various financial agreements, including the issuance of $350.0 million in aggregate principal amount of 3.25% unsecured convertible senior notes due 2030.
Winnebago does not anticipate cash dividend payments to common stockholders in the near future.
The company identified no material changes in its risk factors from the previous annual report.
Winnebago continues to focus on its core operations and strategic growth initiatives, including the integration of Grand Design motorhomes into its Motorhome RV segment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Winnebago Industries Inc. quarterly 10-Q report dated March 27, 2025. To report an error, please email earnings@qz.com.