Winnebago Industries, Inc. · NYSE:WGO

Winnebago Industries — Q4 FY2026 Earnings Presentation

24 slides from Winnebago Industries's earnings presentation, Oct 21, 2026

  1. Slide 1: Q4 FY 2026 Earnings Presentation

    Winnebago Industries Q4 FY 2026 Earnings Presentation October 21, 2026 © 2026 Winnebago Industries 1

  2. Slide 2: Forward-Looking Statements

    Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including the business outlook and financial guidance for Fiscal 2027. Investors are cautioned that forward-looking statements are inherently u

  3. Slide 3: Agenda

    Agenda 01 02 03 04 Performance Financial Fiscal 2027 Concluding Overview Results Guidance Comments © 2026 Winnebago Industries 3

  4. Slide 4: Disciplined Execution Amid Consumer and Dealer Caution

    Disciplined Execution Amid Consumer and Dealer Caution KEY MARKET TRENDS BUSINESS PERFORMANCE • RV and boating interest remained healthy, but affordability • Production and wholesale shipments remained disciplined pressures and macroeconomic uncertainty continued to delay and aligned with retail dem

  5. Slide 5: Premium Brand Positioning Reflected In Dollar Share Exceeding Unit Share

    Our Premium Brand Positioning Is Reflected In Dollar Share That Exceeds Unit Share Across Key RV Categories TTM 8/31/2026 Class A - Class A - Motorhome Class B Class C Towable Fifth Wheel Travel Trailer Total Diesel Gas Unit Share 16.3% 35.4% 12.0% 19.6% 13.8% 9.7% 13.9% 8.8% 10.4% Change Y/Y (% pts

  6. Slide 6: Barletta Continued to Gain Share in a Soft Retail Market

    Barletta Continued to Gain Share in a Soft Retail Market F26 F25 9.7% 9.0% F24 8.8% Sanza F23 7.1% F21 Aria 4.7% Leggera F19 Corsa 1.7% Cabrio F18 0.3% Lusso F17 0.0% Source: Statistical Surveys Inc.; F26 is August FY26 TTM ; represents unit retail volume market share of the U.S. aluminum pontoon se

  7. Slide 7: Designed to Strengthen Our Foundation to Compete Through the Cycle

    FISCAL 2026 KEY INITIATIVES Designed to Strengthen Our Foundation to Compete Through the Cycle 1 2 3 4 Improve Operational Invest in Owner- Maintain Cost and Broaden Portfolio & Efficiency Focused Innovation Liquidity Discipline Access Simplify our Advance product Strengthen financial Expand our por

  8. Slide 8: Broadening our Reach Across Customer Segments, Use Cases and Price Points

    FY26 NEW PRODUCTS Broadening our Reach Across Customer Segments, Use Cases and Price Points WINNEBAGO | MOTORIZED WINNEBAGO | TOWABLE GRAND DESIGN | MOTORIZED ARKA THRIVE LINEAGE SERIES E Expands Winnebago's adventure Broadens Winnebago Towables' Towables’ travel Establishes Grand Expands Grand Desi

  9. Slide 9: Financial Results

    Financial Results 01 02 03 04 Performance Financial Fiscal 2027 Concluding Overview Results Guidance Comments © 2026 Winnebago Industries 9

  10. Slide 10: F26 Q4 Consolidated Results

    F26 Q4 Consolidated Results F26 Q4 F25 Q4 • Net revenues decreased 17.0%, primarily reflecting lower unit volume and product mix, partially offset by $645.1 Net selective price adjustments. Revenues $777.3 ($-millions) • Gross profit margin decreased to 12.5% primarily due to 12.5% volume deleverage

  11. Slide 11: Towable RV Segment Results

    Towable RV Segment Results F26 F25 Net Revenues Operating Income and Margin Q4 Q4 ($ millions) $306.3 $21.4 $220.3 7.0% $9.3 4.2% $ - millions OI Margin Net revenues decreased 28.1% vs. F25 Q4 Operating income margin decreased 280 bps vs. primarily due to: F25 Q4, primarily due to: • Lower unit volu

  12. Slide 12: Motorhome RV Segment Results

    Motorhome RV Segment Results F26 F25 Net Revenues Operating Income and Margin Q4 Q4 ($ millions) $361.2 $323.6 $7.9 2.4% ($0.3) (0.1%) $ - millions OI Margin Net revenues decreased 10.4% vs. F25 Q4 Operating income margin increased 250 bps vs. F25 Q4, primarily driven by: primarily reflecting: • Low

  13. Slide 13: Marine Segment Results

    Marine Segment Results Net Revenues Operating Income and Margin F26 F25 Q4 Q4 ($ millions) $92.3 $94.9 $6.6 $6.7 7.1% 7.1% $ - millions OI Margin Net revenues decreased 2.7% vs. F25 Q4, Operating income margin of 7.1% was primarily due to: consistent with the prior year primarily due to: • Shift in

  14. Slide 14: Balance Sheet and Cash Flow

    Balance Sheet and Cash Flow Focused on preserving financial flexibility, managing working capital and strengthening the balance sheet NET LEVERAGE TREND FREE CASH FLOW 2 Leverage Ratio1 Market Trough/ COVID EBITDA Impact Profit Impact Newmar ($ - millions) FY2026 FY2025 Grand Design Chris-Craft Barl

  15. Slide 15: FY 2027 Guidance

    FY 2027 Guidance 01 02 03 04 Performance Financial Fiscal 2027 Concluding Overview Results Guidance Comments © 2026 Winnebago Industries 15

  16. Slide 16: Fiscal 2027 Guidance and Key Drivers

    Fiscal 2027 Guidance1 and Key Drivers FY26 Actual FY27 Estimate Midpoint vs. FY26 Key Drivers • Further Motorhome RV Net Revenues $2.7B $2.65B - $2.80B $2.725B; +1% operating improvement • Contributions from recently launched products Reported earnings per $1.21 $0.90 - $1.50 $1.20; (1%) • Manufactu

  17. Slide 17: Concluding Comments

    Concluding Comments 01 02 03 04 Performance Financial Fiscal 2027 Concluding Overview Results Guidance Comments © 2026 Winnebago Industries 17

  18. Slide 18: Building a More Durable Growth and Earnings Profile

    Building a More Durable Growth and Earnings Profile Three Strategic Pillars broaden growth while reducing reliance on a market recovery 01 RV + MARINE 02 CUSTOMER JOURNEY 03 POWER + SPECIALTY MOBILITY Strengthen the Core Build Aftermarket Expand Strategic Mobility • Drive profitable share in today’s

  19. Slide 19: © 2026 Winnebago Industries

    © 2026 Winnebago Industries 19

  20. Slide 20: Appendix

    Appendix © 2026 Winnebago Industries 20

  21. Slide 21: Winnebago Industries Adjusted EBITDA Reconciliation

    Winnebago Industries Adjusted EBITDA Reconciliation ($ millions) F26 Q4 F25 Q4 Net income $9.7 $13.7 Interest expense, net 4.6 6.6 Income tax provision (benefit) 2.9 (0.4) Depreciation & amortization 15.0 15.2 EBITDA $32.2 $35.1 Restructuring and related costs -- 2.9 Non-operating income 0.4 0.2 Adj

  22. Slide 22: Winnebago Industries Pro Forma Adjusted EBITDA Reconciliation

    Winnebago Industries Pro Forma Adjusted EBITDA Reconciliation ($ millions) TTM F26 Q4 TTM F25 Q4 TTM F22 Q1 TTM F20 Q3 TTM F20 Q1 TTM F18 Q4 TTM F17 Q2 Net income $34.5 $25.7 $324.1 $50.9 $103.7 $102.4 $54.6 Interest expense, net 20.9 25.9 40.7 27.8 19.5 18.2 6.3 Provision for income taxes 9.9 4.4 9

  23. Slide 23: Winnebago Industries Adjusted EPS Reconciliation

    Winnebago Industries Adjusted EPS Reconciliation F26 Q4 F25 Q4 Diluted earnings per share (GAAP) $0.34 $0.49 Amortization1 0.19 0.19 Restructuring and related costs1 -- 0.10 Tax impact of adjustments2 (0.04) (0.07) Adjusted diluted earnings per share (non-GAAP)3 $0.49 $0.71 1 Represents a pre-tax ad

  24. Slide 24: Winnebago Industries Free Cash Flow Reconciliation

    Winnebago Industries Free Cash Flow Reconciliation ($ millions) F26 Q4 F25 Q4 FY2026 FY2025 Net cash provided by operating activities $142.5 $181.4 $168.7 $128.9 Purchases of property, plant, and equipment (7.3) (10.2) (24.1) (39.4) Free Cash Flow $135.2 $171.2 $144.6 $89.5 Note: Numbers may not foo

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