Towable RVs now account for well more than half of the revenue at Forest City-based Winnebago Industries. Second quarter profits and revenue are up substantially for the recreational vehicle manufacturer from a year ago.
The quarter ended Feb. 24 is the first full quarter since Winnebago bought Indiana-based towable RV maker Grand Design. The results show revenue up more than 26 percent from the second quarter 2017 and an increase in profits of more than 37 percent. Winnebago CEO Michael Happe says the company is grabbing a bigger slice of the towable market.
“We have advanced our towable segment share from less than one percent of market share at the beginning of 2016 to somewhere in the mid-single digits presently,” he says.
Happe says Winnebago also had a $2.3 million benefit from the federal tax cut earlier this year. He says the company will put this money toward a one-time employee bonus, some salary increases, capital investments and a donation to its foundation.