NYSE$WGO

Winnebago Industries Inc. · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Winnebago reported strong Q4 2021 results with record revenues and increased profitability.

Winnebago Industries reported a strong fourth quarter with record revenues of $1.0 billion, up 40.4% year-over-year. The company's earnings per diluted share was $2.45, and adjusted earnings per diluted share was $2.57, a 77.2% increase over the prior year. Market share gains accelerated in the fourth quarter, and the acquisition of Barletta Boat Company was completed early in Fiscal 2022.

  • Record quarterly revenues of $1.0 billion, up 40.4% year-over-year.
  • RV market share gains continued.
  • Gross margin expanded 150 basis points year-over-year to 18.1%.
  • Record reported quarterly diluted EPS of $2.45; record adjusted EPS of $2.57, up 77.2% over the prior year.

Headline financials

Total Revenue

$1.04B

Previous: $738M+40.4%
EPS (adj)

$2.57

Previous: $1.45+77.2%
Capital Expenditures

$21.3M

Previous: $3.8M+461.1%
Free Cash Flow

$68M

Previous: $104M-34.7%
Net Income

$84.1M

Previous: $42.5M+98.0%
Operating Income

$120M

Previous: $68.4M+75.4%
Gross Profit

$187M

Previous: $123M+52.8%
Cash & Equivalents

$435M

Previous: $293M+48.5%
Total Assets

$2.06B

Previous: $1.71B+20.4%
Stock-Based Comp

$3.63M

Previous: $3.14M+15.4%

Revenue & EPS history

Winnebago · Revenue · Quarterly

$1.04B

Q4 2021+40.4%vs Q4 2020
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

Winnebago · $688M total across 3 segments · Q3 2026

  • Motorhome RV
    $321M
  • Towable RV
    $275M
  • Marine
    $92.4M

Forward guidance

Winnebago Industries is confident in its ability to profitably grow revenues and gain market share, reflected in the increase to the quarterly cash dividend, share buybacks, and the newly authorized share repurchase program.

Tailwinds

  • Continued focus on quality
  • Continued focus on service
  • Continued focus on innovation
  • Expanded portfolio of high-quality outdoor lifestyle products
  • Empowering customers to have extraordinary outdoor experiences

Headwinds

  • Uncertainty surrounding the COVID-19 pandemic
  • General economic uncertainty in key markets
  • Worsening of domestic economic conditions or low levels of economic growth
  • Availability of financing for RV and marine dealers
  • Ability to manage inventory to meet demand

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 18 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+1.0%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+5.2%

Avg return

30 days after

49%

32 / 65 earnings

Positive

+28.9%

Q2 2020

Best reaction

-16.3%

Q1 2014

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026
Q2 2026-7.2%-5.0%
Q1 2026+8.2%+5.6%+18.5%
Q4 2025+28.7%+30.3%+10.0%
Q3 2025-5.5%-8.6%+6.0%
Q2 2025+8.1%-0.7%-5.8%
Q1 2025-7.6%-7.8%-8.0%
Q4 2024-10.0%-4.2%+1.6%
Q3 2024-4.8%-8.5%+0.2%
Q2 2024+7.0%+8.1%-4.5%
Q1 2024-3.8%-3.9%-10.1%
Q4 2023-2.3%-1.6%+12.5%
Q3 2023-5.6%-3.6%+3.7%
Q2 2023-3.9%-3.9%+1.4%
Q1 2023-4.7%-3.8%+9.9%
Q4 2022-11.0%-4.7%-5.0%
Q3 2022+10.2%+14.2%+28.7%
Q2 2022-10.0%-15.4%-11.3%
Q1 2022-3.4%+2.2%+11.4%
Q4 2021-4.9%-8.6%-0.1%
Q3 2021+0.8%+2.6%+3.3%
Q2 2021-4.2%-5.3%+0.4%
Q1 2021+8.2%+9.2%+10.2%
Q4 2020-10.4%-15.2%-12.0%
Q3 2020-3.5%-6.0%-12.6%
Q2 2020+28.9%+23.6%+64.4%
Q1 2020+10.7%+9.6%+15.5%
Q4 2019+17.0%+20.3%+13.1%
Q3 2019+3.5%-0.6%+2.0%
Q2 2019-0.8%+7.0%+25.0%
Q1 2019+15.4%+12.4%+53.4%
Q4 2018-8.3%-11.8%-19.4%
Q3 2018+15.0%+6.6%+3.3%
Q2 2018-12.7%-18.0%-19.7%
Q1 2018-1.9%-1.7%-7.7%
Q4 2017+7.5%+6.5%+11.5%
Q3 2017+15.7%+20.0%+18.8%
Q2 2017+7.0%+8.1%-5.6%
Q1 2017-12.2%-11.2%-15.2%
Q4 2016+1.6%+1.4%+10.0%
Q3 2016+7.1%+1.2%+5.8%
Q2 2016+4.7%
Q1 2016-11.1%
Q4 2015-0.4%
Q3 2015+18.2%
Q2 2015-11.6%
Q1 2015-11.0%
Q4 2014-3.0%
Q3 2014+2.1%
Q2 2014+1.6%
Q1 2014-16.3%
Q4 2013+7.9%
Q3 2013+0.1%
Q2 2013-5.8%
Q1 2013+16.7%
Q4 2010-1.8%
Q4 2012-8.0%
Q3 2011+6.1%
Q3 2012+6.1%
Q2 2011+3.5%
Q2 2012+3.5%
Q1 2012+1.7%
Q4 2011+1.7%
Q1 2011+1.7%
Q3 2010-1.4%
Q2 2010-0.9%

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