Winnebago Industries Inc. Files 10-Q for Period Ending February 24, 2024

Ticker: WGO · Form: 10-Q · Filed: 2024-03-21T00:00:00.000Z

Sentiment: neutral

Topics: Winnebago, 10-Q, RV Industry, Financial Report, Q2 Earnings

TL;DR

<b>Winnebago Industries Inc. filed its Q2 2024 10-Q report on March 21, 2024, detailing financial performance for the period ending February 24, 2024.</b>

AI Summary

WINNEBAGO INDUSTRIES INC (WGO) filed a Quarterly Report (10-Q) with the SEC on March 21, 2024. Winnebago Industries Inc. filed its 10-Q report for the period ending February 24, 2024. The filing covers the second quarter of the fiscal year. The company's fiscal year ends on August 31st. The filing was made on March 21, 2024. Winnebago Industries Inc. is classified under SIC code 3716 for Motor Homes.

Why It Matters

For investors and stakeholders tracking WINNEBAGO INDUSTRIES INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance data for Winnebago Industries, crucial for assessing the company's current health and future prospects in the recreational vehicle market. Understanding the details within this report allows stakeholders to evaluate the company's operational efficiency, profitability, and financial position as of Q2 2024.

Risk Assessment

Risk Level: low — WINNEBAGO INDUSTRIES INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting requirements.

Analyst Insight

Monitor Winnebago's subsequent earnings reports and investor calls for commentary on sales trends, inventory levels, and consumer demand in the RV sector.

Key Numbers

Key Players & Entities

FAQ

When did WINNEBAGO INDUSTRIES INC file this 10-Q?

WINNEBAGO INDUSTRIES INC filed this Quarterly Report (10-Q) with the SEC on March 21, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by WINNEBAGO INDUSTRIES INC (WGO).

Where can I read the original 10-Q filing from WINNEBAGO INDUSTRIES INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by WINNEBAGO INDUSTRIES INC.

What are the key takeaways from WINNEBAGO INDUSTRIES INC's 10-Q?

WINNEBAGO INDUSTRIES INC filed this 10-Q on March 21, 2024. Key takeaways: Winnebago Industries Inc. filed its 10-Q report for the period ending February 24, 2024.. The filing covers the second quarter of the fiscal year.. The company's fiscal year ends on August 31st..

Is WINNEBAGO INDUSTRIES INC a risky investment based on this filing?

Based on this 10-Q, WINNEBAGO INDUSTRIES INC presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting requirements.

What should investors do after reading WINNEBAGO INDUSTRIES INC's 10-Q?

Monitor Winnebago's subsequent earnings reports and investor calls for commentary on sales trends, inventory levels, and consumer demand in the RV sector. The overall sentiment from this filing is neutral.

How does WINNEBAGO INDUSTRIES INC compare to its industry peers?

Winnebago Industries operates in the recreational vehicle (RV) manufacturing sector, producing motorhomes and towable RVs.

Are there regulatory concerns for WINNEBAGO INDUSTRIES INC?

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

Industry Context

Winnebago Industries operates in the recreational vehicle (RV) manufacturing sector, producing motorhomes and towable RVs.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

  1. Analyze the full 10-Q filing for detailed financial statements, including balance sheets, income statements, and cash flow statements.
  2. Review Management's Discussion and Analysis (MD&A) section for insights into the company's operational performance and outlook.
  3. Compare the financial results in this 10-Q with previous periods and industry benchmarks to identify trends and assess competitive positioning.

Key Dates

Year-Over-Year Comparison

This filing represents the standard quarterly update for Winnebago Industries Inc. and does not appear to be a restatement or amendment of a prior filing based on the provided data.

Filing Stats: 4,813 words · 19 min read · ~16 pages · Grade level 7.4 · Accepted 2024-03-21 16:18:23

Key Financial Figures

Filing Documents

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 34 Item 4.

Controls and Procedures

Controls and Procedures 34 PART II. OTHER INFORMATION 36 Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 5. Other Information 36 Item 6. Exhibits 37

SIGNATURES

SIGNATURES 38 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Consolidated Financial Statements

Item 1. Consolidated Financial Statements Winnebago Industries, Inc. Consolidated Statements of Income (Unaudited) Three Months Ended Six Months Ended (in millions, except per share data) February 24, 2024 February 25, 2023 February 24, 2024 February 25, 2023 Net revenues $ 703.6 $ 866.7 $ 1,466.6 $ 1,818.9 Cost of goods sold 598.3 719.9 1,245.5 1,511.7 Gross profit 105.3 146.8 221.1 307.2 Selling, general, and administrative expenses 64.2 66.2 135.3 136.9 Amortization 5.7 3.8 11.3 7.6 Total operating expenses 69.9 70.0 146.6 144.5 Operating income 35.4 76.8 74.5 162.7 Interest expense, net 5.3 5.3 9.4 11.2 Loss on note repurchase 32.7 — 32.7 — Non-operating loss 3.0 1.8 3.6 2.1 (Loss) income before income taxes ( 5.6 ) 69.7 28.8 149.4 Provision for income taxes 7.1 16.9 15.7 36.4 Net (loss) income $ ( 12.7 ) $ 52.8 $ 13.1 $ 113.0 (Loss) earnings per common share: Basic $ ( 0.43 ) $ 1.73 $ 0.45 $ 3.71 Diluted $ ( 0.43 ) $ 1.52 $ 0.44 $ 3.25 Weighted average common shares outstanding: Basic 29.2 30.5 29.4 30.5 Diluted 29.2 35.5 29.7 35.5 The accompanying Notes to Consolidated Financial Statements are an integral part of these consolidated financial statements. 3 Table of Contents Winnebago Industries, Inc. Consolidated Balance Sheets (in millions, except per share data) February 24, 2024 August 26, 2023 (Unaudited) Assets Current assets Cash and cash equivalents $ 265.7 $ 309.9 Receivables, less allowance for credit losses ($ 0.4 and $ 0.4 , respectively) 234.4 178.5 Inventories, net 465.8 470.6 Prepaid expenses and other current assets 36.3 37.7 Total current assets 1,002.2 996.7 Property, plant, and equipment, net 333.7 327.3 Goodwill 514.5 514.5 Other intangible assets, net 490.7 502.0 Investment in life insurance 30.1 29.3 Operating lease assets 39.9 42.6 Deferred income tax assets, net 3.2 — Other long-term assets 19.6 20.0 Total assets $ 2,433.9 $ 2,432.4 Liabilities and Stockholders' Equity Current liab

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements (Unaudited) (All amounts are in millions, except share and per share data, unless otherwise designated) Note 1. Basis of Presentation The consolidated financial statements include the accounts of Winnebago Industries, Inc. and its wholly owned subsidiaries. Intercompany account balances and transactions have been eliminated in consolidation. The use of the terms "Winnebago Industries," "Winnebago," "we," "our," and "us" in this Quarterly Report on Form 10-Q, unless the context otherwise requires, refers to Winnebago Industries, Inc. and its wholly owned subsidiaries. The interim unaudited consolidated financial statements included herein are prepared pursuant to the rules and regulations of the United States ("U.S.") Securities and Exchange Commission ("SEC"). The information furnished in these consolidated financial statements includes normal recurring adjustments, unless noted otherwise in the Notes to Consolidated Financial Statements, and reflects all adjustments that are, in management's opinion, necessary for a fair presentation of such financial statements. The consolidated financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). GAAP requires us to make estimates and assumptions that affect amounts reported. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to SEC rules and regulations. The consolidated financial statements included in this Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended August 26, 2023 filed with the SEC. Interim results of operations are not necessarily indicative of the results to be expected for the full fiscal year ending August 31, 2024. Comprehensive Income Comprehensive

View on Read The Filing