WGO

EX-99.1

2 exh9912026q4earningsrelease.htm

EX-99.1

Document

Exhibit 99.1

News Release

WINNEBAGO INDUSTRIES REPORTS FOURTH QUARTER AND FULL YEAR FISCAL 2026 RESULTS

-- Motorhome RV Continues to Gain Share through Innovation and Operational Execution(1) --

-- Recent Manufacturing Footprint Actions Expected to Drive Long-Term Returns --

-- Barletta Continues to Expand Share of the U.S. Aluminum Pontoon Market(1) --

-- Strong Cash Flows in the Quarter and an Improvement in Net Leverage to 2.2x --

-- Company Issues Fiscal 2027 Financial Guidance --

EDEN PRAIRIE, MINN., October 21, 2026 -- Winnebago Industries, Inc. (NYSE: WGO), a leading manufacturer of outdoor recreation products, today reported financial results for the Company's fourth quarter and full year Fiscal 2026.

Fourth Quarter Fiscal 2026 Financial Summary

•Net revenues of $645.1 million compared to $777.3 million in the fourth quarter of Fiscal 2025

•Gross profit of $80.7 million, representing 12.5% gross margin, compared to $99.2 million, representing 12.8% gross margin in the fourth quarter of Fiscal 2025

•Net income of $9.7 million, or $0.34 per diluted share; adjusted earnings per diluted share of $0.49 compared to $0.71 in the fourth quarter of Fiscal 2025

•Adjusted EBITDA of $32.6 million, representing 5.1% adjusted EBITDA margin

•Net cash flow from operations of $142.5 million

•Net leverage ratio improved to 2.2x at quarter end

Full Year Fiscal 2026 Financial Summary

•Net revenues of $2,703.9 million compared to $2,798.2 million in Fiscal 2025

•Gross profit of $350.2 million, representing 13.0% gross margin, compared to $365.1 million, representing 13.0% gross margin in Fiscal 2025

•Net income of $34.5 million, or $1.21 per diluted share; adjusted earnings per diluted share of $1.79 compared to $1.67 in Fiscal 2025

•Adjusted EBITDA of $125.0 million, representing 4.6% adjusted EBITDA margin

•Net cash flow from operations of $168.7 million

CEO Commentary

“Fiscal 2026 highlighted the resilience of our portfolio and the disciplined execution of our teams in a persistently challenging retail environment,” said President and Chief Executive Officer Michael Happe. “By maintaining focus on the factors within our control, including product innovation, operational improvements and deliberate production and inventory management, we continued to strengthen our brands and position the portfolio for long-term growth.

1

“Even as market pressure across our segments persisted, we began to see encouraging early signs across several strategic initiatives: real traction in the Winnebago Motorhome transformation, stabilizing share trends and improving market share at Grand Design Towables, growing market penetration for Grand Design Motorized, and impressive share growth at Winnebago Towables,” Happe said. “We took actions to rationalize capacity, drive operational efficiency, and better align our manufacturing footprint with market demand. These initiatives remain at different stages of development, and we expect their financial contribution to build gradually, with greater value accruing in future years. Together with the strong continued growth of Barletta's market presence in pontoons and our growing portable power offerings, this progress reinforces our confidence in the long-term earnings potential of our portfolio.

"At multiple retail, trade, and dealer meeting events in September, we demonstrated the breadth of our portfolio with new offerings across brands, product categories and price points. Dealer feedback was encouraging and reinforced that the investments we've made around both innovation and affordability are well aligned with evolving consumer preferences, positioning us to capitalize on opportunities within our control while continuing to elevate the ownership experience."

Fourth Quarter Fiscal 2026 Results

Net revenues were $645.1 million, a decrease of 17.0% compared to $777.3 million in the fourth quarter of Fiscal 2025, primarily due to lower unit volume and product mix, partially offset by selective price adjustments.

Gross profit was $80.7 million, a decrease of 18.6% compared to $99.2 million in the fourth quarter of Fiscal 2025. Gross profit margin decreased 30 basis points in the quarter to 12.5%, primarily due to volume deleverage, partially offset by operational efficiencies from Motorhome segment transformation initiatives.

Operating expenses were $63.1 million, a decrease of 20.1% compared to $79.1 million in the fourth quarter of Fiscal 2025, primarily due to cost reduction initiatives.

Operating income was $17.6 million, a decrease of 12.3% compared to $20.1 million in the fourth quarter of Fiscal 2025.

Net income was $9.7 million, compared to $13.7 million in the fourth quarter of Fiscal 2025. Reported earnings per diluted share was $0.34, compared to a reported earnings per diluted share of $0.49 in the fourth quarter of Fiscal 2025. Adjusted earnings per diluted share was $0.49, a decrease of 31

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