Winnebago Industries Inc Q3 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Michael Swartz - Truist Securities - Analyst : Hey. Good morning, guys. Maybe just to start with on the on the motorized business and maybe specific to the Winnebago branded portion of that, I guess talk about some of the steps in more detail that you're taking to, write the course there. Are you evaluating whether or not to exit parts or consolidate parts of that that business, giving some of the changing market dynamics over the past couple of years, in motorized?

Question: Michael Swartz - Truist Securities - Analyst : Okay. That's super helpful. Just a follow-up on motorized if we look at the profitability year-to-date, I want to say it's down something like 500 basis points year over year. Is there a way just to frame or parse how much of that is volume related versus maybe some other factors that may be a little more transitory in nature? Bryan Hughes - Winnebago Industries Inc. - Chief Financial Officer, Senior Vice President-Finance, IT and Strategic Planing In the motorhome business specifically, Mike?

Question: Michael Swartz - Truist Securities - Analyst : Okay. Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 25, 2025 / 2:00PM, WGO.N - Q3 2025 Winnebago Industries Inc Earnings Call

Question: Tristan Thomas-Martin - BMO Capital Markets - Analyst : Hey, good morning. I just want to ask about your kind of commentary about the back half of calendar '25 spring retail you're expecting to remain pressured. So how should we think of that? Reading to the line sounds like we're not going to get a ton of deal about kind of the first half of your fiscal year '26, kind of putting everything together, it kind of seems like you're pointing to flats maybe down year-over-year.

Question: Tristan Thomas-Martin - BMO Capital Markets - Analyst : Okay. And then, just kind of another '26 question on tariffs, the $0.50 to $0.75, is there any way to break it out between kind of what the impact is either by call like what what's the motorized chassis impact, maybe what's the impact on outboard engines for marine and kind of what's the impact on the rest of your RV product line. Thank you.

Question: Tristan Thomas-Martin - BMO Capital Markets - Analyst : Okay. Great. Thank you.

Question: Joseph Altobello - Raymond James - Analyst : Thanks. Hey guys, good morning. I want to go back to your comments earlier, Mike, about the Winnebago motorhome segment. It sounds like, and correct me if I'm wrong, that, your strategy here is rather than play the the discounting game, to kind of focus on innovation toward the lower end, in terms of price points in that category. I guess first, is that accurate? And second, if yes, how long do you think that takes?

Question: Joseph Altobello - Raymond James - Analyst : Got it. Very helpful and just kind of to follow up on that in terms of demand trends you mentioned March was encouraging in April and May, not so much. It sounds like what you're seeing in June is more of a continuation of what you saw in the latter part of the quarter rather than any sort of improvement is that accurate?

Question: Joseph Altobello - Raymond James - Analyst : Got it. Okay. Thank you.

Question: Craig Kennison - Baird - Analyst : Hey. Good morning. Thanks for your time today, Mike. I'm wondering if you would comment on some of the tax proposals, finding their way through Congress, especially as it relates to interest rate deductibility.

Question: Craig Kennison - Baird - Analyst : Great. Thanks, Mike.

Question: Scott Stember - Roth Capital Partners - Analyst : Good morning guys, and thanks for taking my questions this morning. Mike, you were talking about some price increases going through related to tariffs already for the '26 product. Two questions there, is this, the, I guess below the mid-single digits? (inaudible) that you talked about earlier, does that include all of that? And the other part is what is the reaction if some of these products have been retailing, what has the consumer reaction been to these price increases? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 25, 2025 / 2:00PM, WGO.N - Q3 2025 Winnebago Industries Inc Earnings Call

Question: Scott Stember - Roth Capital Partners - Analyst : Got it. And this last one on Marine you guys obviously. Doing the complete opposite of what it looks like the rest of the industry is doing, particularly for pontoons. Maybe you also talk about Chris Kraft, how things are trending there, and just, is this just a totally idiosyncratic to Winnebago or is there anything else that's going on that is helping both brands just really kill it right now.

Question: Scott Stember - Roth Capital Partners - Analyst : Got it. That's all I have.

Question: Tristan Thomas-Martin - BMO Capital Markets - Analyst : Just wanted to sneak one in there and kind of motorized me. Newmar has done pretty well in a pretty challenged backdrop, kind of curious if you could flag what they're doing specifically and then how, if it's possible, maybe port some of those kind of changes over to the core Winnebago motorized brand thanks.