Winnebago Industries reported its first-quarter fiscal 2025 financial results, citing a subdued outdoor-recreation market for a drop in overall revenues. The Chris-Craft and Barletta parent posted revenues of $625.6 million, down 18% from the prior year, and a net loss of $5.2 million, compared with net income of $25.8 million in the first quarter of last year.
The marine segment performed well and provided year-over-year growth, driven by Barletta’s success in expanding its U.S. aluminum pontoon market share. Chris-Craft also contributed to growth, with both brands achieving retail market share gains through October, outperforming the industry in their respective categories. Marine segment revenues were $90.5 million for the quarter, up 3.6% from $87.3 million year-over-year.
“We were pleased with the performance of our marine segment, which delivered top-line and margin growth sequentially and year-over-year,” president and CEO Michael Happe said in a statement.
“From an industry perspective, encouraging retail trends in October and increasing consumer confidence, combined with ongoing inventory management efforts at the dealer level, are positive indicators of strengthening demand and a more balanced market environment,” Happe said. “While the second quarter of fiscal 2025 is likely to remain challenged, we remain confident in our strong positioning and long-term growth potential.”
Overall, the gross profit for the quarter was $76.8 million, a 33.7% decline compared with the prior-year quarter. Operating expenses increased slightly to $77.7 million, driven by strategic investments. Operating loss was $0.9 million, compared with operating income of $39.1 million in the prior-year quarter.
For fiscal 2025, the company is reaffirming its expectation for consolidated revenues in the range of $2.9 billion to $3.2 billion.
“We remain confident in our fiscal 2025 guidance,” Happe said.
