EDEN PRAIRIE, MINNESOTA — Winnebago Industries is reporting record revenue for their just-completed fiscal year. The outdoor lifestyle products manufacturer with Iowa factory locations in Forest City, Lake Mills, Charles City and Waverly reported revenues of $5 billion for Fiscal Year 2022, increasing almost 37% from $3.6 billion in Fiscal 2021.
CEO Michael Happe says that was driven by the recently acquired Barletta boats, pricing actions and strong consumer demand for the company’s products. “As those who follow Winnebago Industries know well, over the past seven fiscal years, we have been laser focused on enhancing and strengthening our enterprise portfolio. The success that those initiatives has created a more diversified, resilient, competitive, and profitable Winnebago Industries. This was never more evident than in Fiscal Year 2022 when our company achieved record revenue, profitability, and overall outdoor market share.”
The outdoor lifestyle product market boomed beginning with the start of the pandemic as more people turned to the outdoors, and Happe says the company continues to benefit from that increased demand for the Winnebago, Grand Design and Newmar recreational vehicle brands as well as Chris-Craft and Barletta boats. “It is no secret that demand for outdoor products exploded in the last two years, and that new consumer trends have emerged which will impact our industries forever. Thanks to the relentless focus, commitment and heart of our world-class team here, we’ve delivered on unprecedented levels of demand for our premium products as new and existing consumers embrace the outdoor lifestyle.”
Happe says the results for the fourth quarter and the fiscal year overall shows the company’s flexibility and ability to deliver in a volatile economic climate. “Winnebago Industries’ fourth quarter results were a strong finish to an outstanding year in which we delivered record revenue and profitability. We recorded fourth quarter net revenues of $1.2 billion, which represent a 14% increase over the same period last year.”
Winnebago Industries’ net income for the fourth quarter was $82.6 million, and for the year, the company reported a profit of $390.6 million.