Winnebago Q1 FY2023 revenue down 17.6% to $952.2M; adjusted EPS $2.07 vs $3.51

WINNEBAGO INDUSTRIES INC

2023-Q1 EPS reported $1.73 revenue$952,200,000

Reported diluted EPS $1.73, adjusted diluted EPS $2.07; net income $60.2M (-39.6% YoY).
Towable revenue $347.3M (-46.7%); Motorhome up 10.1% to $464.2M; Marine up 65.7% to $131.4M.
Motorhome hit by Mercedes-Benz Sprinter chassis recall; estimated $50M sales impact in Q1.
Marine Barletta pontoon market share 6.7% trailing 12 months; fastest-growing segment.
Total debt $590.4M; operating cash flow $29.9M; working capital $617.7M.

item 2.02 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

WINNEBAGO INDUSTRIES INC reported the first quarter of Fiscal 2023 ended November 26, 2022 results: revenue $952.2 million, net income $60.2 million, EPS $1.73.

Period: the first quarter of Fiscal 2023 ended November 26, 2022
Revenue: $952.2 million
Net income: $60.2 million
EPS: $1.73
Result: reported results

Exact text from the filing

Revenues for the Fiscal 2023 first quarter ended November 26, 2022, were $952.2 million, a decrease of 17.6% compared to $1.2 billion for the Fiscal 2022 period, driven by unit volume decreases versus record year-ago comparisons, partially offset by Marine segment unit growth and price increases in all segments related to higher material and component costs. Gross profit was $160.4 million, a decrease of 30.1% compared to $229.4 million for the Fiscal 2022 period, driven by timing of inflationary pressures relative to pricing, operating deleverage, and productivity loss from supply disruptions. Gross profit margin decreased 300 basis points in the quarter to 16.8%. Operating income was $85.9 million for the quarter, a decrease of 41.3% compared to $146.4 million for the first quarter of last year. Fiscal 2023 first quarter net income was $60.2 million, a decrease of 39.6% compared to $99.6 million in the prior year quarter. Reported earnings per diluted share was $1.73, compared to rep

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

WINNEBAGO INDUSTRIES INC shareholders approved Election of Directors at the 2022-12-13 meeting.

Proposal: director election
Outcome: passed
Meeting: 2022-12-13

Exact text from the filing

Item 1 - Election of Directors. The following nominees were elected as Class II directors of the Company for three-years terms ending in 2025: Name Votes For Votes Withheld Broker Non-Votes Kevin E. Bryant 20,664,454 207,810 5,401,176 Richard D. Moss 20,631,167 241,097 5,401,176 John M. Murabito 19,597,862 1,274,402 5,401,176

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

WINNEBAGO INDUSTRIES INC shareholders approved Ratification of the Appointment of Independent Registered Public Accountant for the Fiscal Year Ending August 26, 2023 at the 2022-12-13 meeting.

Proposal: auditor ratification
Outcome: passed
Meeting: 2022-12-13

Exact text from the filing

Item 3 - Ratification of the Appointment of Independent Registered Public Accountant for the Fiscal Year Ending August 26, 2023. The selection of Deloitte & Touche LLP as the Company’s independent registered public accountant for the fiscal year ending August 26, 2023 was ratified: Votes For Votes Against Abstentions 25,458,954 782,874 31,612

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

WINNEBAGO INDUSTRIES INC shareholders approved Advisory Approval Vote on Executive Compensation at the 2022-12-13 meeting.

Proposal: say on pay
Outcome: passed
Meeting: 2022-12-13

Exact text from the filing

Item 2 - Advisory Approval Vote on Executive Compensation. The compensation of the Company’s named executive officers was approved in a non-binding vote: Votes For Votes Against Abstentions Broker Non-Votes 19,831,314 964,238 76,712 5,401,176

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Source: SEC EDGAR

accession 0000107687-22-000029

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