NYSE: WGO WINNEBAGO INDUSTRIES INC 8-K

Winnebago cuts FY2026 guidance as Q3 revenue falls 9.9% to $698.7M on weak RV demand

Filed June 25, 2026 · Period ending June 25, 2026 · ~2 min read

Key Changes

high

Full-year adjusted EPS guidance lowered to $1.65–$2.00 from $2.10–$2.80; revenue outlook cut to $2.65B–$2.75B, citing challenging demand, elevated fuel costs, and weak consumer confidence.

Exhibit 99.1 view on EDGAR →
high

Q3 revenue declined 9.9% to $698.7M with adjusted EPS of $0.66 vs. $0.81 prior year; adjusted EBITDA margin compressed to 5.4% from 6.0% as lower volumes and input cost pressures offset selective price increases.

Exhibit 99.1 view on EDGAR →
high

Towable RV segment revenue fell 26.1% to $274.7M with units down 26.5%; operating margin compressed 220 bps to 5.8% on volume deleverage, higher input costs, and shift to lower-priced models amid muted category demand.

Exhibit 99.1 view on EDGAR →
high

Motorhome RV segment revenue rose 10.1% to $320.7M with units up 7.1%; operating margin improved 410 bps to 3.0% from negative 1.1% prior year, driven by new product launches at Grand Design Motorized and Newmar.

Exhibit 99.1 view on EDGAR →
medium

Operating cash flow improved $78.7M year-over-year to $26.2M for nine months; total debt reduced $97.6M to $442.9M from fiscal year-end through debt repayments of $103.0M.

Exhibit 99.1 view on EDGAR →

Summary

Winnebago Industries reported third quarter fiscal 2026 results that underscore continued pressure in the RV market, prompting the company to lower its full-year guidance for the second time this fiscal year. Revenue declined 9.9% to $698.7 million with adjusted earnings per share of $0.66, down from $0.81 in the prior year quarter.

The company now expects full-year adjusted EPS of $1.65 to $2.00, down from its prior range of $2.10 to $2.80, citing challenging retail demand conditions, elevated fuel costs, geopolitical uncertainty, and weak consumer confidence. The quarter revealed a tale of two segments.

The Motorhome RV business showed meaningful improvement with revenue up 10.1% and operating margin swinging to positive 3.0% from negative 1.1% a year ago, driven by new product introductions at Grand Design Motorized and solid execution at Newmar. In contrast, the Towable RV segment experienced a sharp 26.1% revenue decline with units down 26.5%, as consumers shifted toward lower-priced models and competitive promotional activity intensified. Operating margin in Towables compressed 220 basis points to 5.8% despite cost containment efforts. For retail investors, the guidance cut signals management expects the difficult demand environment to persist through fiscal year-end. The company's ability to generate positive operating cash flow of $26.2 million year-to-date (a $78.7 million improvement) and reduce debt by $97.6 million demonstrates financial discipline, but the Towable segment's weakness and compressed margins across the portfolio reflect structural headwinds that may take multiple quarters to resolve. Watch for fourth quarter results to confirm whether the Motorhome momentum can offset continued Towable softness.

Section-by-Section Diff

Event · Exhibit 99.1

~5,600 words View exhibit on EDGAR ↗

4 Added

Added Q3 FY2026 financial results high

Added in current filing · view on EDGAR →

Net revenues of $698.7 million compared to $775.1 million in the third quarter of Fiscal 2025 ... Net income of $14.5 million, or $0.51 per diluted share; adjusted earnings per diluted share of $0.66 compared to adjusted earnings per diluted share of $0.81 in the third quarter of Fiscal 2025 ... Adjusted EBITDA of $37.8 million, representing 5.4% adjusted EBITDA margin

Winnebago reported third quarter fiscal 2026 net revenues of $698.7 million, down 9.9% year-over-year, driven by lower unit volumes partially offset by selective price adjustments. Net income was $14.5 million or $0.51 per diluted share, with adjusted EPS of $0.66 versus $0.81 in the prior year quarter. Adjusted EBITDA was $37.8 million at a 5.4% margin, down 18.7% year-over-year, reflecting challenging retail demand and elevated input costs.

Added Towable RV segment decline high

Added in current filing · view on EDGAR →

Net revenues decreased primarily due to lower unit volume and a shift in product mix toward lower price-point models, partially offset by selective price adjustments. ... Operating income margin decreased primarily due to higher input costs, volume deleverage, and product mix, partially offset by selective price adjustments and cost containment initiatives.

The Towable RV segment experienced a 26.1% revenue decline to $274.7 million with unit deliveries down 26.5% to 6,983 units. Operating margin compressed 220 basis points to 5.8% from 8.0%, reflecting higher input costs, volume deleverage, and a shift toward lower-priced models. The company noted that category demand remained muted, particularly at higher price points where competitive and promotional activity remained elevated.

Added Fiscal 2026 guidance reduction high

Added in current filing · view on EDGAR → · paraphrased

Consolidated net revenues in the range of $2.65 billion to $2.75 billion; ... Reported earnings per diluted share in the range of $1.05 to $1.40 compared to the Company's prior expectations for reported earnings per diluted share in the range of $1.50 to $2.20; and ... Adjusted earnings per diluted share guidance in the range of $1.65 to $2.00 compared to a prior range of $2.10 to $2.80.

Winnebago lowered its full-year fiscal 2026 guidance, now expecting revenues of $2.65 billion to $2.75 billion, reported EPS of $1.05 to $1.40 (down from $1.50 to $2.20), and adjusted EPS of $1.65 to $2.00 (down from $2.10 to $2.80). The company also reduced its North American RV wholesale shipment forecast to 290,000 to 310,000 units for calendar year 2026, citing continued challenging demand conditions, elevated fuel costs, geopolitical uncertainty, and weak consumer confidence.

Added Cash flow improvement and debt reduction medium

Added in current filing · view on EDGAR → · paraphrased

Cash flow provided by operating activities during the nine months ended May 30, 2026 was $26.2 million compared to cash flow used in operating activities of $52.5 million during the same period last year. Operating cash flow improved by $78.7 million year over year, shifting from a use of cash in the prior-year period to a source of cash in the current year. ... The Company had total outstanding debt of $442.9 million ($450.0 million of debt, net of debt issuance costs of $7.1 million)

Winnebago generated $26.2 million in operating cash flow for the nine months ended May 30, 2026, a $78.7 million improvement from the $52.5 million cash use in the prior year period. Total debt declined to $442.9 million from $540.5 million at fiscal year-end, reflecting debt repayments of $103.0 million during the nine-month period. Cash and cash equivalents stood at $57.1 million at quarter-end.

Event · Item 2.02 — Results of Operations and Financial Condition

~300 words

Winnebago Industries reported Q3 FY2026 financial results for the quarter ended May 30, 2026.

1 Added

Added Q3 FY2026 earnings medium

Added in current filing · verify on EDGAR →

On June 25, 2026, Winnebago Industries, Inc. (the "Company") issued a press release to report financial results for the third quarter of Fiscal 2026 ended May 30, 2026.

The company disclosed financial results for its third fiscal quarter of 2026, which ended May 30, 2026. The press release is attached as Exhibit 99.1 and includes non-GAAP financial measures with reconciliations to GAAP. Specific financial figures are not provided in the 8-K body itself.