Winnebago Q2 GAAP EPS $1.52, adj $1.88 as revenues fall 25.6%

Revenues for the Fiscal 2023 second quarter ended February 25, 2023, were $866.7 million, a decrease of 25.6% compared to $1.2 billion for the Fiscal 2022 period, driven by unit volume decreases versus record year-ago comparisons, partially offset by carryover price increases in all segments. Gross profit was $146.8 million, a decrease of 32.2% compared to $216.6 million for the Fiscal 2022 period, driven by decreased volume, higher material and input costs, deleverage and productivity loss from supply disruptions, partially offset by carryover price increases in all segments. Gross profit margin decreased 170 basis points in the quarter to 16.9%. Operating income was $76.8 million for the quarter, a decrease of 43.9% compared to $136.8 million for the second quarter of last year. Fiscal 2023 second quarter net income was $52.8 million, a decrease of 42.1% compared to $91.2 million in the prior year quarter. Reported earnings per diluted share was $1.52, compared to reported earnings p