NEWS RELEASES
Winnebago Reports Strong Cash Flow
Editor's Note: This news item was retrieved and first published through Winnebago's website.
FOREST CITY, Iowa -- Winnebago Industries, Inc. (NYSE: WGO) reported financial results for the Company's fourth quarter and full-year Fiscal 2019, which ended August 31, 2019. Fourth-quarter revenues were $530.4 million, a decrease of 1.1% compared to the same period last year, while 2019 revenues of $1.99 billion decreased by 1.5% from $2.02 billion in Fiscal 2018. Strong growth of 6.2% in the Towable segment was more than offset by a decline of 17.9% in the Motorhome segment. Cash flow from operations in both the RV and marine industries was $133.8 million for Fiscal 2019, an increase of 60.5% from Fiscal 2018. The company paid a quarterly cash dividend of $0.11 per share on September 25, 2019.
In a news release, Winnebago President and CEO, Michael Happe, commented, “With the mid-November close of our latest acquisition, we will have four of the most premium and sought after brands in the outdoor lifestyle arena - Winnebago, Grand Design, Newmar, and Chris-Craft. Each of these business platforms offers a unique and distinct value proposition to outdoor enthusiasts, but all have golden threads via our enterprise focus on quality, service, and innovation.”
Read the full report on the Winnebago Industries Investor website.