Winnebago Industries Reports $3.2B FY24 Revenue

Ticker: WGO · Form: 10-K · Filed: 2024-10-23T00:00:00.000Z

Sentiment: neutral

Topics: annual-report, revenue, recreation-vehicles

Related Tickers: THO, CMPO

TL;DR

WGO FY24 revenue hit $3.2B. RV market still a wild ride.

AI Summary

Winnebago Industries Inc. reported its fiscal year 2024 results, ending August 31, 2024. The company's total net revenues for the fiscal year were $3.2 billion. This filing details their financial performance and business operations, including information on their segments and financial statements.

Why It Matters

This 10-K filing provides a comprehensive overview of Winnebago's financial health and operational performance for the fiscal year 2024, crucial for investors and stakeholders to assess the company's stability and future prospects.

Risk Assessment

Risk Level: medium — The RV industry is cyclical and sensitive to economic conditions, which can impact Winnebago's sales and profitability.

Key Numbers

Key Players & Entities

FAQ

What were Winnebago's total net revenues for the fiscal year ending August 31, 2024?

Winnebago Industries Inc. reported total net revenues of $3.2 billion for the fiscal year ending August 31, 2024.

What is the company's primary business as indicated by its SIC code?

The company's Standard Industrial Classification (SIC) code is 3716, which corresponds to MOTOR HOMES.

When was Winnebago Industries Inc. incorporated or last changed its name?

The company's former name was MODERNISTIC INDUSTRIES INC, with a date of name change on 19670528.

What is the filing date of this 10-K report?

This 10-K report was filed on 20241023.

What are the main segments of Winnebago Industries?

The filing mentions 'wgo:segment' indicating different business segments, though specific segment revenues are not detailed in this snippet.

Filing Stats: 4,497 words · 18 min read · ~15 pages · Grade level 13.8 · Accepted 2024-10-23 16:28:44

Key Financial Figures

Filing Documents

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 17

C

Item 1 C . Cybersecurity 18 Item 2.

Properties

Properties 19 Item 3.

Legal Proceedings

Legal Proceedings 19 Item 4. Mine Safety Disclosures 19 PART II 20 Item 5. Market for the Registrant's Common Equity, Related Shareholder Matters, and Issuer Purchases of Equity Securities 20 Item 6. [Reserved] 22 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 32 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 33 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 65 Item 9A.

Controls and Procedures

Controls and Procedures 65 Item 9B. Other Information 65 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 65 PART III 66 Item 10. Directors, Executive Officers and Corporate Governance 66 Item 11.

Executive Compensation

Executive Compensation 66 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 66 Item 13. Certain Relationships and Related Transactions, and Director Independence 66 Item 14. Principal Accountant Fees and Services 66 PART IV 67 Item 15. Exhibits and Financial Statement Schedules 67 Item 16. Form 10-K Summary 73

SIGNATURES

SIGNATURES 74 3 Table of Contents WINNEBAGO INDUSTRIES, INC. FORM 10-K Report for the Fiscal Year Ended August 31, 2024 Safe Harbor Statement Under the Private Securities Litigation Reform Act Certain of the matters discussed in this Annual Report on Form 10-K are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"), which involve risks and uncertainties. With the exception of historical information, the matters discussed in this Annual Report on Form 10-K are forward-looking statements and may be identified by the use of words such as "anticipate," "assume," "believe," "estimate," "expect," "guidance," "intend," "outlook," "plan," "project," and other words and terms of similar meaning. Such statements reflect our current views and estimates with respect to future market conditions, company performance and financial results, operational investments, business prospects, new strategies, the competitive environment, and other events. These statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the potential results discussed in such forward-looking statements. Readers should review Item 1A, Risk Factors , in this Annual Report on Form 10-K for the fiscal year ended August 31, 2024, for a description of important factors that could cause our actual results to differ materially from those contemplated by the forward-looking statements made in this Annual Report on Form 10-K. Among the factors that could cause actual results and outcomes to differ materially from those contained in such forward-looking statements are the following: General economic uncertainty in key markets and a worsening of domestic and global economic conditions or low levels of economic growth. Availability of financing for RV and marine dealers and retail purchasers. Co

Business

Item 1. Business. General The use of the terms "Winnebago Industries," "Winnebago," "we," "our," and "us" in this Annual Report on Form 10-K, unless the context otherwise requires, refer to Winnebago Industries, Inc. and its wholly-owned subsidiaries. Winnebago Industries, Inc. is one of the leading North American manufacturers of recreation vehicles ("RVs") and marine products with a diversified portfolio used primarily in leisure travel and outdoor recreational activities. We also design and manufacture advanced battery solutions that deliver "house power," supporting internal electrical features and appliances for a variety of outdoor products including RVs, boats, specialty and other low-speed vehicles, as well as other industrial applications. Other products manufactured by us consist primarily of original equipment manufacturing parts for other manufacturers and commercial vehicles. We produce our towable RV units in Indiana; our motorhome RV units in Iowa and Indiana; our marine units in Indiana and Florida; and our battery solutions in Florida. We distribute our RV and marine products primarily through independent dealers throughout the U.S. and Canada, who then retail the products to the end consumer. We also distribute our marine products internationally through independent dealers, who then retail the products to the end consumer. Our battery solutions are primarily sold to customers in the U.S. All references to Fiscal 2024 refer to the 53-week period ended August 31, 2024. Fiscal 2023 refers to the 52-week period ended August 26, 2023 and Fiscal 2022 refers to the 52-week period ended August 27, 2022. Available Information Our internet website, located at www.winnebagoind.com, provides additional information about us. On our website you can obtain, free of charge, this and prior year Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and all other recent filings with the SEC. Our recent press releases and

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