Chris-Craft parent Winnebago Industries reported record second-quarter revenue of $840 million, a 34 percent gain compared with the same quarter a year prior.
Strong gains in its towable and motorhome segments drove the record results. Towable revenues for the quarter were $439.3 million, up 55 percent, with motorhomes seeing an 18 percent gain from the previous year to $383 million.
Net income was $69.1 million, a 300 percent increase compared with the same quarter last year. Gross profit increased to $156.6 million, a 96 percent gain from the previous year.
Earnings per diluted share were $2.04, compared with $0.51 last year.
“We are pleased with the outstanding market and financial results … as they reflect the sustained strength of our leading brand portfolio and our world-class team’s commitment to safely deliver high-quality products to our valued dealer network,” president and CEO Michael Happe said in a statement.
Regarding Chris-Craft, Winnebago said dealer inventories are at a 12-year low, with a backlog of sold boats in production. The company plans to introduce three models this year: the 35 Calypso, 24 Calypso and 24 Catalina.
“Our teams are working diligently with supplier partners to deliver higher volume levels of product to the market for the foreseeable future,” Happe said. “We are making well-considered capital investments across our premium brand portfolio to increase capacity to meet this elevated demand and will remain disciplined in managing future production to match healthy market behavior and economic conditions.”
