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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Winnebago Industries Inc | NYSE:WGO | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 61.58 | 0 | 11:44:49 |
(Mark One) | ||||||||
☒
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |||||||
or | |||||||||||
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | ||||||||||
For the transition period from _________________ to _________________ | |||||||||||
Commission File Number: 001-06403
|
WINNEBAGO INDUSTRIES, INC. | ||||||||||||||
(Exact name of registrant as specified in its charter) |
Iowa | 42-0802678 | |||||||||||||||||||
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||||||||
P. O. Box 152, | Forest City, | Iowa | 50436 | |||||||||||||||||
(Address of principal executive offices) | (Zip Code) | |||||||||||||||||||
641-585-3535
|
||||||||||||||||||||
(Registrant's telephone number, including area code) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Common Stock, $0.50 par value per share | WGO | New York Stock Exchange |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands, except per share data) |
May 29,
2021 |
May 30,
2020 |
May 29,
2021 |
May 30,
2020 |
|||||||||||||||||||
Net revenues | $ | 960,737 | $ | 402,458 | $ | 2,593,754 | $ | 1,617,726 | |||||||||||||||
Cost of goods sold | 791,125 | 370,434 | 2,130,556 | 1,427,307 | |||||||||||||||||||
Gross profit | 169,612 | 32,024 | 463,198 | 190,419 | |||||||||||||||||||
Selling, general, and administrative expenses | 63,586 | 33,271 | 165,001 | 126,540 | |||||||||||||||||||
Amortization | 3,590 | 6,926 | 10,771 | 18,514 | |||||||||||||||||||
Total operating expenses | 67,176 | 40,197 | 175,772 | 145,054 | |||||||||||||||||||
Operating income (loss) | 102,436 | (8,173) | 287,426 | 45,365 | |||||||||||||||||||
Interest expense | 10,229 | 8,440 | 30,222 | 23,140 | |||||||||||||||||||
Non-operating income | (93) | (74) | (310) | (460) | |||||||||||||||||||
Income (loss) before income taxes | 92,300 | (16,539) | 257,514 | 22,685 | |||||||||||||||||||
Provision (benefit) for income taxes | 21,005 | (4,186) | 59,728 | 3,702 | |||||||||||||||||||
Net income (loss) | $ | 71,295 | $ | (12,353) | $ | 197,786 | $ | 18,983 | |||||||||||||||
Earnings (loss) per common share | |||||||||||||||||||||||
Basic | $ | 2.12 | $ | (0.37) | $ | 5.89 | $ | 0.57 | |||||||||||||||
Diluted | $ | 2.05 | $ | (0.37) | $ | 5.83 | $ | 0.57 | |||||||||||||||
Weighted average common shares outstanding | |||||||||||||||||||||||
Basic | 33,552 | 33,625 | 33,565 | 33,102 | |||||||||||||||||||
Diluted | 34,772 | 33,625 | 33,943 | 33,289 | |||||||||||||||||||
Net income (loss) | $ | 71,295 | $ | (12,353) | $ | 197,786 | $ | 18,983 | |||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||
Amortization of net actuarial loss (net of tax of $3, $3, $9 and $9)
|
9 | 8 | 26 | 24 | |||||||||||||||||||
Interest rate swap activity (net of tax of $—, $141, $— and $163)
|
— | (432) | — | (500) | |||||||||||||||||||
Other comprehensive income (loss) | 9 | (424) | 26 | (476) | |||||||||||||||||||
Comprehensive income (loss) | $ | 71,304 | $ | (12,777) | $ | 197,812 | $ | 18,507 |
(in thousands, except per share data) |
May 29,
2021 |
August 29,
2020 |
|||||||||
(Unaudited) | |||||||||||
Assets | |||||||||||
Current assets | |||||||||||
Cash and cash equivalents | $ | 405,841 | $ | 292,575 | |||||||
Receivables, less allowance for doubtful accounts ($287 and $353, respectively)
|
228,199 | 220,798 | |||||||||
Inventories, net | 333,018 | 182,941 | |||||||||
Prepaid expenses and other assets | 21,559 | 17,296 | |||||||||
Total current assets | 988,617 | 713,610 | |||||||||
Property, plant, and equipment, net | 177,578 | 174,945 | |||||||||
Goodwill | 348,058 | 348,058 | |||||||||
Other intangible assets, net | 393,997 | 404,768 | |||||||||
Investment in life insurance | 28,381 | 27,838 | |||||||||
Operating lease assets | 27,318 | 29,463 | |||||||||
Other long-term assets | 15,821 | 15,018 | |||||||||
Total assets | $ | 1,979,770 | $ | 1,713,700 | |||||||
Liabilities and Shareholders' Equity | |||||||||||
Current liabilities | |||||||||||
Accounts payable | $ | 173,008 | $ | 132,490 | |||||||
Income taxes payable | — | 8,840 | |||||||||
Accrued expenses | |||||||||||
Accrued compensation | 59,412 | 36,533 | |||||||||
Product warranties | 82,062 | 64,031 | |||||||||
Self-insurance | 18,237 | 17,437 | |||||||||
Promotional | 9,851 | 12,543 | |||||||||
Accrued interest | 7,821 | 4,652 | |||||||||
Accrued dividends | 4,273 | 180 | |||||||||
Other | 20,946 | 23,684 | |||||||||
Total current liabilities | 375,610 | 300,390 | |||||||||
Long-term debt, net | 524,450 | 512,630 | |||||||||
Deferred income taxes | 14,852 | 15,608 | |||||||||
Unrecognized tax benefits | 6,538 | 6,511 | |||||||||
Operating lease liabilities | 25,391 | 27,048 | |||||||||
Deferred compensation benefits, net of current portion | 9,920 | 11,130 | |||||||||
Other long-term liabilities | 12,751 | 12,917 | |||||||||
Total liabilities | 969,512 | 886,234 | |||||||||
Contingent liabilities and commitments (Note 10) | |||||||||||
Shareholders' equity | |||||||||||
Preferred stock, par value $0.01: 10,000 shares authorized; Zero shares issued and outstanding
|
— | — | |||||||||
Common stock, par value $0.50: 120,000 shares authorized; 51,776 shares issued and outstanding
|
25,888 | 25,888 | |||||||||
Additional paid-in capital | 214,460 | 203,791 | |||||||||
Retained earnings | 1,095,167 | 913,610 | |||||||||
Accumulated other comprehensive loss | (500) | (526) | |||||||||
Treasury stock, at cost: 18,225 and 18,133 shares, respectively
|
(324,757) | (315,297) | |||||||||
Total shareholders' equity | 1,010,258 | 827,466 | |||||||||
Total liabilities and shareholders' equity | $ | 1,979,770 | $ | 1,713,700 |
Nine Months Ended | |||||||||||
(in thousands) |
May 29,
2021 |
May 30,
2020 |
|||||||||
Operating Activities | |||||||||||
Net income | $ | 197,786 | $ | 18,983 | |||||||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||
Depreciation | 13,476 | 11,854 | |||||||||
Amortization | 10,771 | 18,514 | |||||||||
Non-cash interest expense, net | 10,372 | 7,440 | |||||||||
Amortization of debt issuance costs | 1,852 | 2,181 | |||||||||
Last-in, first-out expense | 2,321 | 1,450 | |||||||||
Stock-based compensation | 11,719 | 3,332 | |||||||||
Deferred income taxes | (765) | 365 | |||||||||
Other, net | (4,412) | 516 | |||||||||
Change in operating assets and liabilities: | |||||||||||
Receivables, net | (7,384) | 31,440 | |||||||||
Inventories, net | (152,398) | 91,938 | |||||||||
Prepaid expenses and other assets | 1,010 | 159 | |||||||||
Accounts payable | 40,817 | (13,528) | |||||||||
Income taxes and unrecognized tax benefits | (12,771) | (2,622) | |||||||||
Accrued expenses and other liabilities | 35,560 | (9,585) | |||||||||
Net cash provided by (used in) operating activities | 147,954 | 162,437 | |||||||||
Investing Activities | |||||||||||
Purchases of property, plant and equipment | (23,596) | (28,582) | |||||||||
Acquisition of business, net of cash acquired | — | (260,965) | |||||||||
Proceeds from sale of property, plant and equipment | 12,450 | — | |||||||||
Other, net | (224) | 141 | |||||||||
Net cash provided by (used in) investing activities | (11,370) | (289,406) | |||||||||
Financing Activities | |||||||||||
Borrowings on long-term debt | 2,629,932 | 1,795,209 | |||||||||
Repayments on long-term debt | (2,629,932) | (1,501,709) | |||||||||
Purchase of convertible bond hedge | — | (70,800) | |||||||||
Proceeds from issuance of warrants | — | 42,210 | |||||||||
Payments of cash dividends | (12,136) | (10,881) | |||||||||
Payments for repurchases of common stock | (12,109) | (1,789) | |||||||||
Payments of debt issuance costs | (224) | (10,761) | |||||||||
Other, net | 1,151 | 539 | |||||||||
Net cash provided by (used in) financing activities | (23,318) | 242,018 | |||||||||
Net increase in cash and cash equivalents | 113,266 | 115,049 | |||||||||
Cash and cash equivalents at beginning of period | 292,575 | 37,431 | |||||||||
Cash and cash equivalents at end of period | $ | 405,841 | $ | 152,480 | |||||||
Supplemental Disclosures | |||||||||||
Income taxes paid, net | $ | 71,090 | $ | 6,240 | |||||||
Interest paid | 14,618 | 14,961 | |||||||||
Non-cash investing and financing activities | |||||||||||
Issuance of common stock for acquisition of business | $ | — | $ | 92,572 | |||||||
Capital expenditures in accounts payable | 121 | 255 | |||||||||
Dividends declared not yet paid | 4,273 | 126 |
Three Months Ended May 29, 2021
|
||||||||||||||||||||||||||
(in thousands,
except per share data) |
Common Shares | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Shareholders' Equity | ||||||||||||||||||||
Number | Amount | Number | Amount | |||||||||||||||||||||||
Balance at February 27, 2021
|
51,776 | $ | 25,888 | $ | 209,727 | $ | 1,032,020 | $ | (509) | (18,225) | $ | (324,762) | $ | 942,364 | ||||||||||||
Stock-based compensation | — | — | 4,733 | — | — | — | 5 | 4,738 | ||||||||||||||||||
Common stock dividends paid; $0.12 per share
|
— | — | — | (4,062) | — | — | — | (4,062) | ||||||||||||||||||
Common stock dividends accrued; $0.12 per share
|
— | — | — | (4,086) | — | — | — | (4,086) | ||||||||||||||||||
Actuarial loss, net of tax | — | — | — | — | 9 | — | — | 9 | ||||||||||||||||||
Net income | — | — | — | 71,295 | — | — | — | 71,295 | ||||||||||||||||||
Balance at May 29, 2021
|
51,776 | $ | 25,888 | $ | 214,460 | $ | 1,095,167 | $ | (500) | (18,225) | $ | (324,757) | $ | 1,010,258 | ||||||||||||
Three Months Ended May 30, 2020
|
||||||||||||||||||||||||||
(in thousands,
except per share data) |
Common Shares | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Shareholders' Equity | ||||||||||||||||||||
Number | Amount | Number | Amount | |||||||||||||||||||||||
Balance at February 29, 2020
|
51,776 | $ | 25,888 | $ | 200,751 | $ | 890,994 | $ | (543) | (18,153) | $ | (315,566) | $ | 801,524 | ||||||||||||
Stock-based compensation | — | — | (315) | — | — | — | 7 | (308) | ||||||||||||||||||
Issuance of stock, net | — | — | 20 | — | — | 8 | 133 | 153 | ||||||||||||||||||
Repurchase of common stock | — | — | — | — | — | (1) | (52) | (52) | ||||||||||||||||||
Common stock dividends paid; $0.11 per share
|
— | — | — | (3,730) | — | — | — | (3,730) | ||||||||||||||||||
Actuarial loss, net of tax | — | — | — | — | 8 | — | — | 8 | ||||||||||||||||||
Interest rate swap activity, net of tax | — | — | — | — | (432) | — | — | (432) | ||||||||||||||||||
Net loss | — | — | — | (12,353) | — | — | — | (12,353) | ||||||||||||||||||
Balance at May 30, 2020
|
51,776 | $ | 25,888 | $ | 200,456 | $ | 874,911 | $ | (967) | (18,146) | $ | (315,478) | $ | 784,810 | ||||||||||||
Nine Months Ended May 29, 2021
|
||||||||||||||||||||||||||
Common Shares | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Shareholders' Equity | |||||||||||||||||||||
Number | Amount | Number | Amount | |||||||||||||||||||||||
Balance at August 29, 2020
|
51,776 | $ | 25,888 | $ | 203,791 | $ | 913,610 | $ | (526) | (18,133) | $ | (315,297) | $ | 827,466 | ||||||||||||
Stock-based compensation | — | — | 11,701 | — | — | 1 | 18 | 11,719 | ||||||||||||||||||
Issuance of stock | — | — | (1,032) | — | — | 149 | 2,631 | 1,599 | ||||||||||||||||||
Repurchase of common stock | — | — | — | — | — | (242) | (12,109) | (12,109) | ||||||||||||||||||
Common stock dividends paid; $0.36 per share
|
— | — | — | (12,136) | — | — | — | (12,136) | ||||||||||||||||||
Common stock dividends accrued; $0.12 per share
|
— | — | — | (4,093) | — | — | — | (4,093) | ||||||||||||||||||
Actuarial loss, net of tax | — | — | — | — | 26 | — | — | 26 | ||||||||||||||||||
Net income | — | — | — | 197,786 | — | — | — | 197,786 | ||||||||||||||||||
Balance at May 29, 2021
|
51,776 | $ | 25,888 | $ | 214,460 | $ | 1,095,167 | $ | (500) | (18,225) | $ | (324,757) | $ | 1,010,258 | ||||||||||||
Nine Months Ended May 30, 2020
|
||||||||||||||||||||||||||
(in thousands,
except per share data) |
Common Shares | Additional Paid-In Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Shareholders' Equity | ||||||||||||||||||||
Number | Amount | Number | Amount | |||||||||||||||||||||||
Balance at August 31, 2019
|
51,776 | $ | 25,888 | $ | 91,185 | $ | 866,886 | $ | (491) | (20,262) | $ | (351,256) | $ | 632,212 | ||||||||||||
Stock-based compensation | — | — | 3,309 | — | — | 1 | 23 | 3,332 | ||||||||||||||||||
Issuance of stock, net | — | — | (2,011) | — | — | 160 | 2,782 | 771 | ||||||||||||||||||
Issuance of stock for acquisition | — | — | 57,811 | — | — | 2,000 | 34,761 | 92,572 | ||||||||||||||||||
Repurchase of common stock | — | — | — | — | — | (45) | (1,788) | (1,788) | ||||||||||||||||||
Common stock dividends paid; $0.33 per share
|
— | — | — | (10,958) | — | — | — | (10,958) | ||||||||||||||||||
Actuarial loss, net of tax | — | — | — | — | 24 | — | — | 24 | ||||||||||||||||||
Interest rate swap activity, net of tax | — | — | — | — | (500) | — | — | (500) | ||||||||||||||||||
Equity component of convertible senior notes and offering costs, net of tax of $20,840
|
— | — | 61,335 | — | — | — | — | 61,335 | ||||||||||||||||||
Convertible note hedge purchase, net of tax of $17,417
|
— | — | (53,383) | — | — | — | — | (53,383) | ||||||||||||||||||
Warrant transactions | — | — | 42,210 | — | — | — | — | 42,210 | ||||||||||||||||||
Net income | — | — | — | 18,983 | — | — | — | 18,983 | ||||||||||||||||||
Balance at May 30, 2020
|
51,776 | $ | 25,888 | $ | 200,456 | $ | 874,911 | $ | (967) | (18,146) | $ | (315,478) | $ | 784,810 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) |
May 29,
2021 |
May 30,
2020 |
May 29,
2021 |
May 30,
2020 |
|||||||||||||||||||
Net Revenues | |||||||||||||||||||||||
Towable | $ | 555,749 | $ | 188,898 | $ | 1,449,934 | $ | 813,611 | |||||||||||||||
Motorhome | 385,257 | 203,590 | 1,090,221 | 755,023 | |||||||||||||||||||
Corporate / All Other | 19,731 | 9,970 | 53,599 | 49,092 | |||||||||||||||||||
Consolidated | $ | 960,737 | $ | 402,458 | $ | 2,593,754 | $ | 1,617,726 | |||||||||||||||
Adjusted EBITDA | |||||||||||||||||||||||
Towable | $ | 80,130 | $ | 16,451 | $ | 205,639 | $ | 86,982 | |||||||||||||||
Motorhome | 37,467 | (10,789) | 118,779 | 13,488 | |||||||||||||||||||
Corporate / All Other | (7,823) | (1,588) | (17,386) | (8,919) | |||||||||||||||||||
Consolidated | $ | 109,774 | $ | 4,074 | $ | 307,032 | $ | 91,551 | |||||||||||||||
Capital Expenditures | |||||||||||||||||||||||
Towable | $ | 4,639 | $ | 2,296 | $ | 11,490 | $ | 11,962 | |||||||||||||||
Motorhome | 2,976 | 5,768 | 10,247 | 13,348 | |||||||||||||||||||
Corporate / All Other | 1,061 | 1,492 | 1,859 | 3,272 | |||||||||||||||||||
Consolidated | $ | 8,676 | $ | 9,556 | $ | 23,596 | $ | 28,582 |
(in thousands) |
May 29,
2021 |
August 29,
2020 |
|||||||||||||||||||||
Assets | |||||||||||||||||||||||
Towable | $ | 745,249 | $ | 718,253 | |||||||||||||||||||
Motorhome | 721,603 | 600,304 | |||||||||||||||||||||
Corporate / All Other | 512,918 | 395,143 | |||||||||||||||||||||
Consolidated | $ | 1,979,770 | $ | 1,713,700 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) | May 29, 2021 | May 30, 2020 | May 29, 2021 | May 30, 2020 | |||||||||||||||||||
Net income (loss) | $ | 71,295 | $ | (12,353) | $ | 197,786 | $ | 18,983 | |||||||||||||||
Interest expense | 10,229 | 8,440 | 30,222 | 23,140 | |||||||||||||||||||
Provision (benefit) for income taxes | 21,005 | (4,186) | 59,728 | 3,702 | |||||||||||||||||||
Depreciation | 4,917 | 4,134 | 13,476 | 11,854 | |||||||||||||||||||
Amortization | 3,590 | 6,926 | 10,771 | 18,514 | |||||||||||||||||||
EBITDA | 111,036 | 2,961 | 311,983 | 76,193 | |||||||||||||||||||
Acquisition-related fair-value inventory step-up | — | — | — | 4,810 | |||||||||||||||||||
Acquisition-related costs | — | (189) | — | 9,761 | |||||||||||||||||||
Restructuring expenses | 19 | 1,376 | 112 | 1,247 | |||||||||||||||||||
Gain on sale of property, plant and equipment | (1,188) | — | (4,753) | — | |||||||||||||||||||
Non-operating income | (93) | (74) | (310) | (460) | |||||||||||||||||||
Adjusted EBITDA | $ | 109,774 | $ | 4,074 | $ | 307,032 | $ | 91,551 |
Fair Value at | Fair Value Hierarchy | ||||||||||||||||||||||
(in thousands) |
May 29,
2021 |
Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Assets that fund deferred compensation | |||||||||||||||||||||||
Domestic equity funds | $ | 917 | $ | 917 | $ | — | $ | — | |||||||||||||||
International equity funds | 39 | 39 | — | — | |||||||||||||||||||
Fixed income funds | 46 | 46 | — | — | |||||||||||||||||||
Total assets at fair value | $ | 1,002 | $ | 1,002 | $ | — | $ | — |
Fair Value at | Fair Value Hierarchy | ||||||||||||||||||||||
(in thousands) |
August 29,
2020 |
Level 1 | Level 2 | Level 3 | |||||||||||||||||||
Assets that fund deferred compensation | |||||||||||||||||||||||
Domestic equity funds | $ | 626 | $ | 626 | $ | — | $ | — | |||||||||||||||
International equity funds | 34 | 34 | — | — | |||||||||||||||||||
Fixed income funds | 50 | 50 | — | — | |||||||||||||||||||
Total assets at fair value | $ | 710 | $ | 710 | $ | — | $ | — |
(in thousands) |
May 29,
2021 |
August 29,
2020 |
|||||||||
Finished goods | $ | 19,638 | $ | 17,141 | |||||||
Work-in-process | 182,316 | 86,651 | |||||||||
Raw materials | 169,218 | 114,982 | |||||||||
Total | 371,172 | 218,774 | |||||||||
Less: Last-in, first-out ("LIFO") reserve | 38,154 | 35,833 | |||||||||
Inventories, net | $ | 333,018 | $ | 182,941 |
(in thousands) |
May 29,
2021 |
August 29,
2020 |
|||||||||
LIFO basis | $ | 147,836 | $ | 88,675 | |||||||
First-in, first-out basis | 223,336 | 130,099 | |||||||||
Total | $ | 371,172 | $ | 218,774 |
(in thousands) |
May 29,
2021 |
August 29,
2020 |
|||||||||
Land | $ | 9,111 | $ | 11,101 | |||||||
Buildings and building improvements | 147,679 | 144,565 | |||||||||
Machinery and equipment | 120,557 | 117,370 | |||||||||
Software | 33,644 | 28,456 | |||||||||
Transportation | 4,974 | 4,913 | |||||||||
Construction in progress | 22,158 | 20,778 | |||||||||
Property, plant, and equipment, gross | 338,123 | 327,183 | |||||||||
Less: Accumulated depreciation | 160,545 | 152,238 | |||||||||
Property, plant, and equipment, net | $ | 177,578 | $ | 174,945 |
(in thousands) | Towable | Motorhome | Corporate / All Other | Total | |||||||||||||||||||
Balances at August 31, 2019 | $ | 244,684 | $ | — | $ | 30,247 | $ | 274,931 | |||||||||||||||
Acquisition of Newmar(1)
|
— | 73,127 | — | 73,127 | |||||||||||||||||||
Balances at May 30, 2020 | $ | 244,684 | $ | 73,127 | $ | 30,247 | $ | 348,058 | |||||||||||||||
Balances at August 29, 2020 and May 29, 2021(2)
|
$ | 244,684 | $ | 73,127 | $ | 30,247 | $ | 348,058 |
May 29, 2021 | |||||||||||||||||||||||
($ in thousands) | Weighted Average Life-Years | Gross Carrying Amount | Accumulated Amortization | Net Carrying Value | |||||||||||||||||||
Trade names | Indefinite | $ | 275,250 | $ | — | $ | 275,250 | ||||||||||||||||
Dealer networks | 12.1 | 159,581 | $ | 42,360 | 117,221 | ||||||||||||||||||
Backlog | 0.5 | 28,327 | 28,327 | — | |||||||||||||||||||
Non-compete agreements | 4.3 | 6,647 | 5,121 | 1,526 | |||||||||||||||||||
Other intangible assets | $ | 469,805 | $ | 75,808 | $ | 393,997 | |||||||||||||||||
August 29, 2020 | |||||||||||||||||||||||
($ in thousands) | Weighted Average Life-Years | Cost | Accumulated Amortization | Net Carrying Value | |||||||||||||||||||
Trade names | Indefinite | $ | 275,250 | $ | — | $ | 275,250 | ||||||||||||||||
Dealer networks | 12.2 | 159,581 | 32,487 | 127,094 | |||||||||||||||||||
Backlog | 0.5 | 28,327 | 28,327 | — | |||||||||||||||||||
Non-compete agreements | 4.1 | 6,647 | 4,223 | 2,424 | |||||||||||||||||||
Other intangible assets | $ | 469,805 | $ | 65,037 | $ | 404,768 |
(in thousands) | Amount | ||||
Remainder of Fiscal 2021 | $ | 3,590 | |||
Fiscal 2022 | 13,719 | ||||
Fiscal 2023 | 13,526 | ||||
Fiscal 2024 | 13,424 | ||||
Fiscal 2025 | 13,219 | ||||
Fiscal 2026 | 13,165 | ||||
Thereafter | 48,104 | ||||
Total amortization expense remaining | $ | 118,747 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) |
May 29,
2021 |
May 30,
2020 |
May 29,
2021 |
May 30,
2020 |
|||||||||||||||||||
Balance at beginning of period | $ | 76,040 | $ | 60,211 | $ | 64,031 | $ | 44,436 | |||||||||||||||
Business acquisition(1)
|
— | — | — | 15,147 | |||||||||||||||||||
Provision | 23,056 | 13,227 | 64,986 | 44,274 | |||||||||||||||||||
Claims paid | (17,034) | (12,773) | (46,955) | (43,192) | |||||||||||||||||||
Balance at end of period | $ | 82,062 | $ | 60,665 | $ | 82,062 | $ | 60,665 |
(in thousands) |
May 29,
2021 |
August 29,
2020 |
|||||||||
ABL Credit Facility | $ | — | $ | — | |||||||
Senior Secured Notes | 300,000 | 300,000 | |||||||||
Convertible Notes | 300,000 | 300,000 | |||||||||
Long-term debt, gross | 600,000 | 600,000 | |||||||||
Convertible Notes unamortized interest discount | (63,922) | (74,294) | |||||||||
Debt issuance costs, net | (11,628) | (13,076) | |||||||||
Long-term debt, net | $ | 524,450 | $ | 512,630 |
(in thousands) | Amount | ||||
Remainder of Fiscal 2021 | $ | — | |||
Fiscal 2022 | — | ||||
Fiscal 2023 | — | ||||
Fiscal 2024 | — | ||||
Fiscal 2025 | 300,000 | ||||
Fiscal 2026 | — | ||||
Thereafter | 300,000 | ||||
Total Senior Secured Notes and Convertible Notes | $ | 600,000 |
(in thousands) |
May 29,
2021 |
August 29,
2020 |
|||||||||
Non-qualified deferred compensation | $ | 10,157 | $ | 11,460 | |||||||
Supplemental executive retirement plan | 1,601 | 1,838 | |||||||||
Executive deferred compensation plan | 1,004 | 710 | |||||||||
Deferred compensation benefits | 12,762 | 14,008 | |||||||||
Less current portion(1)
|
2,842 | 2,878 | |||||||||
Deferred compensation benefits, net of current portion | $ | 9,920 | $ | 11,130 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands) |
May 29,
2021 |
May 30,
2020 |
May 29,
2021 |
May 30,
2020 |
|||||||||||||||||||
Net Revenues | |||||||||||||||||||||||
Towable | |||||||||||||||||||||||
Fifth Wheel | $ | 284,432 | $ | 107,364 | $ | 751,822 | $ | 459,301 | |||||||||||||||
Travel Trailer | 264,450 | 77,974 | 680,088 | 342,331 | |||||||||||||||||||
Other(1)
|
6,867 | 3,560 | 18,024 | 11,979 | |||||||||||||||||||
Total Towable | 555,749 | 188,898 | 1,449,934 | 813,611 | |||||||||||||||||||
Motorhome | |||||||||||||||||||||||
Class A | 172,437 | 92,280 | 464,347 | 337,629 | |||||||||||||||||||
Class B | 135,705 | 65,000 | 382,162 | 232,349 | |||||||||||||||||||
Class C | 67,386 | 39,268 | 215,935 | 161,801 | |||||||||||||||||||
Other(1)
|
9,729 | 7,042 | 27,777 | 23,244 | |||||||||||||||||||
Total Motorhome | 385,257 | 203,590 | 1,090,221 | 755,023 | |||||||||||||||||||
Corporate / All Other | |||||||||||||||||||||||
Other(2)
|
19,731 | 9,970 | 53,599 | 49,092 | |||||||||||||||||||
Total Corporate / All Other | 19,731 | 9,970 | 53,599 | 49,092 | |||||||||||||||||||
Consolidated Net Revenues | $ | 960,737 | $ | 402,458 | $ | 2,593,754 | $ | 1,617,726 |
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
(in thousands, except per share data) |
May 29,
2021 |
May 30,
2020 |
May 29,
2021 |
May 30,
2020 |
|||||||||||||||||||
Net income (loss) | $ | 71,295 | $ | (12,353) | $ | 197,786 | $ | 18,983 | |||||||||||||||
Weighted average common shares outstanding | 33,552 | 33,625 | 33,565 | 33,102 | |||||||||||||||||||
Dilutive impact of stock compensation awards | 384 | — | 302 | 187 | |||||||||||||||||||
Dilutive impact of convertible notes | 836 | — | 76 | — | |||||||||||||||||||
Weighted average diluted common shares outstanding | 34,772 | 33,625 | 33,943 | 33,289 | |||||||||||||||||||
Anti-dilutive securities excluded from weighted average diluted common shares outstanding | 1 | 123 | 46 | 104 | |||||||||||||||||||
Basic earnings (loss) per common share | $ | 2.12 | $ | (0.37) | $ | 5.89 | $ | 0.57 | |||||||||||||||
Diluted earnings (loss) per common share | $ | 2.05 | $ | (0.37) | $ | 5.83 | $ | 0.57 |
Three Months Ended | |||||||||||||||||||||||||||||
May 29, 2021 | May 30, 2020 | ||||||||||||||||||||||||||||
(in thousands) | Defined Benefit Pension Items | Total | Defined Benefit Pension Items | Interest Rate Swap | Total | ||||||||||||||||||||||||
Balance at beginning of period | $ | (509) | $ | (509) | $ | (543) | $ | — | $ | (543) | |||||||||||||||||||
Other comprehensive income (loss) ("OCI") before reclassifications | — | — | — | (432) | (432) | ||||||||||||||||||||||||
Amounts reclassified from AOCI | 9 | 9 | 8 | — | 8 | ||||||||||||||||||||||||
Net current-period OCI | 9 | 9 | 8 | (432) | (424) | ||||||||||||||||||||||||
Balance at end of period | $ | (500) | $ | (500) | $ | (535) | $ | (432) | $ | (967) | |||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||
May 29, 2021 | May 30, 2020 | ||||||||||||||||||||||||||||
(in thousands) | Defined Benefit Pension Items | Total | Defined Benefit Pension Items | Interest Rate Swap | Total | ||||||||||||||||||||||||
Balance at beginning of period | $ | (526) | $ | (526) | $ | (559) | $ | 68 | $ | (491) | |||||||||||||||||||
OCI before reclassifications | — | — | — | (500) | (500) | ||||||||||||||||||||||||
Amounts reclassified from AOCI | 26 | 26 | 24 | — | 24 | ||||||||||||||||||||||||
Net current-period OCI | 26 | 26 | 24 | (500) | (476) | ||||||||||||||||||||||||
Balance at end of period | $ | (500) | $ | (500) | $ | (535) | $ | (432) | $ | (967) |
Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
(in thousands) |
Location on Consolidated Statements
of Income and Comprehensive Income |
May 29,
2021 |
May 30,
2020 |
May 29,
2021 |
May 30,
2020 |
|||||||||||||||||||||
Amortization of net actuarial loss | SG&A | $ | 9 | $ | 8 | $ | 26 | $ | 24 |
US and Canada Industry | |||||||||||||||||||||||||||||||||||||||||||||||
Wholesale Unit Shipments per RVIA | Retail Unit Registrations per Stat Surveys | ||||||||||||||||||||||||||||||||||||||||||||||
Rolling 12 Months through April | Rolling 12 Months through April | ||||||||||||||||||||||||||||||||||||||||||||||
2021 | 2020 | Unit Change | % Change | 2021 | 2020 | Unit Change | % Change | ||||||||||||||||||||||||||||||||||||||||
Towable(1)
|
462,704 | 324,262 | 138,442 | 42.7 | % | 520,369 | 373,427 | 146,942 | 39.3 | % | |||||||||||||||||||||||||||||||||||||
Motorhome(2)
|
49,293 | 40,152 | 9,141 | 22.8 | % | 58,743 | 47,183 | 11,560 | 24.5 | % | |||||||||||||||||||||||||||||||||||||
Combined | 511,997 | 364,414 | 147,583 | 40.5 | % | 579,112 | 420,610 | 158,502 | 37.7 | % |
Calendar Year | |||||||||||||||||||||||
Wholesale Unit Shipment Forecast per RVIA(1)
|
2021
Forecast |
2020
Actual |
Unit Change | % Change | |||||||||||||||||||
Aggressive | 586,300 | 430,400 | 155,900 | 36.2 | % | ||||||||||||||||||
Most likely | 576,100 | 430,400 | 145,700 | 33.9 | % | ||||||||||||||||||
Conservative | 565,800 | 430,400 | 135,400 | 31.5 | % |
Rolling 12 Months through April | Calendar Year | ||||||||||||||||||||||||||||
US and Canada | 2021 |
2020(1)
|
2020 |
2019(1)
|
2018 | ||||||||||||||||||||||||
Travel trailer and fifth wheels | 10.7 | % | 9.8 | % | 10.4 | % | 9.2 | % | 7.8 | % | |||||||||||||||||||
Motorhome A, B, C | 20.0 | % | 20.3 | % | 20.8 | % | 16.1 | % | 15.5 | % | |||||||||||||||||||
Total market share | 11.6 | % | 11.0 | % | 11.5 | % | 10.0 | % | 8.7 | % |
Nine Months Ended | Fiscal Year | Cumulative Investment | |||||||||||||||||||||||||||
(in thousands) |
May 29,
2021 |
2020 | 2019 | Fiscal 2015-2021 | |||||||||||||||||||||||||
Capitalized | $ | 3,838 | $ | 3,891 | $ | 3,875 | $ | 30,515 | 59.2 | % | |||||||||||||||||||
Expensed | 2,376 | 1,788 | 3,709 | 21,039 | 40.8 | % | |||||||||||||||||||||||
Total | $ | 6,214 | $ | 5,679 | $ | 7,584 | $ | 51,554 | 100.0 | % |
Three Months Ended | |||||||||||||||||||||||||||||||||||
($ in thousands, except per share data) | May 29, 2021 |
% of Revenues(1)
|
May 30, 2020 |
% of Revenues(1)
|
$ Change | % Change | |||||||||||||||||||||||||||||
Net revenues | $ | 960,737 | 100.0 | % | $ | 402,458 | 100.0 | % | $ | 558,279 | 138.7 | % | |||||||||||||||||||||||
Cost of goods sold | 791,125 | 82.3 | % | 370,434 | 92.0 | % | 420,691 | 113.6 | % | ||||||||||||||||||||||||||
Gross profit | 169,612 | 17.7 | % | 32,024 | 8.0 | % | 137,588 | 429.6 | % | ||||||||||||||||||||||||||
Selling, general, and administrative expenses | 63,586 | 6.6 | % | 33,271 | 8.3 | % | 30,315 | 91.1 | % | ||||||||||||||||||||||||||
Amortization | 3,590 | 0.4 | % | 6,926 | 1.7 | % | (3,336) | (48.2) | % | ||||||||||||||||||||||||||
Total operating expenses | 67,176 | 7.0 | % | 40,197 | 10.0 | % | 26,979 | 67.1 | % | ||||||||||||||||||||||||||
Operating income (loss) | 102,436 | 10.7 | % | (8,173) | (2.0) | % | 110,609 | (1,353.3) | % | ||||||||||||||||||||||||||
Interest expense | 10,229 | 1.1 | % | 8,440 | 2.1 | % | 1,789 | 21.2 | % | ||||||||||||||||||||||||||
Non-operating income | (93) | — | % | (74) | — | % | 19 | 25.7 | % | ||||||||||||||||||||||||||
Income (loss) before income taxes | 92,300 | 9.6 | % | (16,539) | (4.1) | % | 108,839 | (658.1) | % | ||||||||||||||||||||||||||
Provision (benefit) for income taxes | 21,005 | 2.2 | % | (4,186) | (1.0) | % | 25,191 | (601.8) | % | ||||||||||||||||||||||||||
Net income (loss) | $ | 71,295 | 7.4 | % | $ | (12,353) | (3.1) | % | $ | 83,648 | (677.1) | % | |||||||||||||||||||||||
Diluted earnings (loss) per share | $ | 2.05 | $ | (0.37) | $ | 2.42 | (654.1) | % | |||||||||||||||||||||||||||
Diluted weighted average shares outstanding | 34,772 | 33,625 | 1,147 | 3.4 | % |
Three Months Ended | |||||||||||
(in thousands) |
May 29,
2021 |
May 30,
2020 |
|||||||||
Net income (loss) | $ | 71,295 | $ | (12,353) | |||||||
Interest expense | 10,229 | 8,440 | |||||||||
Provision (benefit) for income taxes | 21,005 | (4,186) | |||||||||
Depreciation | 4,917 | 4,134 | |||||||||
Amortization | 3,590 | 6,926 | |||||||||
EBITDA | 111,036 | 2,961 | |||||||||
Acquisition-related costs | — | (189) | |||||||||
Restructuring expenses | 19 | 1,376 | |||||||||
Gain on sale of property, plant and equipment | (1,188) | — | |||||||||
Non-operating income | (93) | (74) | |||||||||
Adjusted EBITDA | $ | 109,774 | $ | 4,074 |
Three Months Ended | |||||||||||||||||||||||||||||||||||
(in thousands, except ASP) |
May 29,
2021 |
% of Revenues |
May 30,
2020 |
% of Revenues | $ Change | % Change | |||||||||||||||||||||||||||||
Net revenues | $ | 555,749 | $ | 188,898 | $ | 366,851 | 194.2 | % | |||||||||||||||||||||||||||
Adjusted EBITDA | 80,130 | 14.4 | % | 16,451 | 8.7 | % | 63,679 | 387.1 | % | ||||||||||||||||||||||||||
Average Selling Price ("ASP")(1)
|
32,958 | 32,107 | 851 | 2.7 | % | ||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||
Unit deliveries |
May 29,
2021 |
Product Mix(2)
|
May 30,
2020 |
Product Mix(2)
|
Unit Change | % Change | |||||||||||||||||||||||||||||
Travel trailer | 11,089 | 66.4 | % | 3,537 | 60.3 | % | 7,552 | 213.5 | % | ||||||||||||||||||||||||||
Fifth wheel | 5,620 | 33.6 | % | 2,324 | 39.7 | % | 3,296 | 141.8 | % | ||||||||||||||||||||||||||
Total towables | 16,709 | 100.0 | % | 5,861 | 100.0 | % | 10,848 | 185.1 | % |
Three Months Ended | |||||||||||||||||||||||||||||||||||
(in thousands, except ASP) |
May 29,
2021 |
% of Revenues |
May 30,
2020 |
% of Revenues | $ Change | % Change | |||||||||||||||||||||||||||||
Net revenues | $ | 385,257 | $ | 203,590 | $ | 181,667 | 89.2 | % | |||||||||||||||||||||||||||
Adjusted EBITDA | 37,467 | 9.7 | % | (10,789) | (5.3) | % | 48,256 | 447.3 | % | ||||||||||||||||||||||||||
ASP(1)
|
138,810 | 131,609 | 7,201 | 5.5 | % | ||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||
Unit deliveries |
May 29,
2021 |
Product Mix(2)
|
May 30,
2020 |
Product Mix(2)
|
Unit Change | % Change | |||||||||||||||||||||||||||||
Class A | 745 | 27.3 | % | 428 | 27.4 | % | 317 | 74.1 | % | ||||||||||||||||||||||||||
Class B | 1,384 | 50.8 | % | 694 | 44.4 | % | 690 | 99.4 | % | ||||||||||||||||||||||||||
Class C | 598 | 21.9 | % | 440 | 28.2 | % | 158 | 35.9 | % | ||||||||||||||||||||||||||
Total motorhomes | 2,727 | 100.0 | % | 1,562 | 100.0 | % | 1,165 | 74.6 | % |
Nine Months Ended | |||||||||||||||||||||||||||||||||||
($ in thousands, except per share data) | May 29, 2021 |
% of Revenues(1)
|
May 30, 2020 |
% of Revenues(1)
|
$ Change | % Change | |||||||||||||||||||||||||||||
Net revenues | $ | 2,593,754 | 100.0 | % | $ | 1,617,726 | 100.0 | % | $ | 976,028 | 60.3 | % | |||||||||||||||||||||||
Cost of goods sold | 2,130,556 | 82.1 | % | 1,427,307 | 88.2 | % | 703,249 | 49.3 | % | ||||||||||||||||||||||||||
Gross profit | 463,198 | 17.9 | % | 190,419 | 11.8 | % | 272,779 | 143.3 | % | ||||||||||||||||||||||||||
Selling, general, and administrative expenses | 165,001 | 6.4 | % | 126,540 | 7.8 | % | 38,461 | 30.4 | % | ||||||||||||||||||||||||||
Amortization of intangible assets | 10,771 | 0.4 | % | 18,514 | 1.1 | % | (7,743) | (41.8) | % | ||||||||||||||||||||||||||
Total operating expenses | 175,772 | 6.8 | % | 145,054 | 9.0 | % | 30,718 | 21.2 | % | ||||||||||||||||||||||||||
Operating income | 287,426 | 11.1 | % | 45,365 | 2.8 | % | 242,061 | 533.6 | % | ||||||||||||||||||||||||||
Interest expense | 30,222 | 1.2 | % | 23,140 | 1.4 | % | 7,082 | 30.6 | % | ||||||||||||||||||||||||||
Non-operating income | (310) | — | % | (460) | — | % | (150) | (32.6) | % | ||||||||||||||||||||||||||
Income before income taxes | 257,514 | 9.9 | % | 22,685 | 1.4 | % | 234,829 | 1,035.2 | % | ||||||||||||||||||||||||||
Provision for income taxes | 59,728 | 2.3 | % | 3,702 | 0.2 | % | 56,026 | 1,513.4 | % | ||||||||||||||||||||||||||
Net income | $ | 197,786 | 7.6 | % | $ | 18,983 | 1.2 | % | $ | 178,803 | 941.9 | % | |||||||||||||||||||||||
Diluted earnings per share | $ | 5.83 | $ | 0.57 | $ | 5.26 | 922.8 | % | |||||||||||||||||||||||||||
Diluted average shares outstanding | 33,943 | 33,289 | 654 | 2.0 | % |
Nine Months Ended | |||||||||||
(in thousands) | May 29, 2021 | May 30, 2020 | |||||||||
Net income | $ | 197,786 | $ | 18,983 | |||||||
Interest expense | 30,222 | 23,140 | |||||||||
Provision for income taxes | 59,728 | 3,702 | |||||||||
Depreciation | 13,476 | 11,854 | |||||||||
Amortization | 10,771 | 18,514 | |||||||||
EBITDA | 311,983 | 76,193 | |||||||||
Acquisition-related fair-value inventory step-up | — | 4,810 | |||||||||
Acquisition-related costs | — | 9,761 | |||||||||
Restructuring expenses | 112 | 1,247 | |||||||||
Gain on sale of property, plant and equipment | (4,753) | — | |||||||||
Non-operating income | (310) | (460) | |||||||||
Adjusted EBITDA | $ | 307,032 | $ | 91,551 |
Nine Months Ended | |||||||||||||||||||||||||||||||||||
(in thousands, except ASP) | May 29, 2021 | % of Revenues | May 30, 2020 | % of Revenues | $ Change | % Change | |||||||||||||||||||||||||||||
Net revenues | $ | 1,090,221 | $ | 755,023 | $ | 335,198 | 44.4 | % | |||||||||||||||||||||||||||
Adjusted EBITDA | 118,779 | 10.9 | % | 13,488 | 1.8 | % | 105,291 | 780.6 | % | ||||||||||||||||||||||||||
ASP(1)
|
135,356 | 129,344 | 6,012 | 4.6 | % | ||||||||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||||||||||||
Unit deliveries | May 29, 2021 |
Product Mix(2)
|
May 30, 2020 |
Product Mix(2)
|
Unit Change | % Change | |||||||||||||||||||||||||||||
Class A | 2,047 | 25.8 | % | 1,803 | 31.0 | % | 244 | 13.5 | % | ||||||||||||||||||||||||||
Class B | 3,901 | 49.1 | % | 2,287 | 39.3 | % | 1,614 | 70.6 | % | ||||||||||||||||||||||||||
Class C | 1,994 | 25.1 | % | 1,734 | 29.7 | % | 260 | 15.0 | % | ||||||||||||||||||||||||||
Total motorhomes | 7,942 | 100.0 | % | 5,824 | 100.0 | % | 2,118 | 36.4 | % | ||||||||||||||||||||||||||
(in thousands, except units) | May 29, 2021 | May 30, 2020 | Change | % Change | |||||||||||||||||||||||||||||||
Backlog(3)
|
|||||||||||||||||||||||||||||||||||
Units | 18,145 | 4,131 | 14,014 | 339.2 | % | ||||||||||||||||||||||||||||||
Dollars | $ | 2,180,149 | $ | 515,035 | $ | 1,665,114 | 323.3 | % | |||||||||||||||||||||||||||
Dealer Inventory | |||||||||||||||||||||||||||||||||||
Units | 2,429 | 5,013 | (2,584) | (51.5) | % |
Nine Months Ended | |||||||||||
(in thousands) |
May 29,
2021 |
May 30,
2020 |
|||||||||
Total cash provided by (used in): | |||||||||||
Operating activities | $ | 147,954 | $ | 162,437 | |||||||
Investing activities | (11,370) | (289,406) | |||||||||
Financing activities | (23,318) | 242,018 | |||||||||
Net increase in cash and cash equivalents | $ | 113,266 | $ | 115,049 |
Period(1)
|
Total Number of Shares Purchased(2)
|
Average Price Paid per Share |
Number of Shares Purchased as Part of Publicly Announced Plans or Programs(2)
|
Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs(3)
|
|||||||||||||||||||
02/28/21 - 04/03/21 | — | $ | — | — | $ | 58,761,000 | |||||||||||||||||
04/04/21 - 05/01/21 | — | — | — | 58,761,000 | |||||||||||||||||||
05/02/21 - 05/29/21 | — | — | — | 58,761,000 | |||||||||||||||||||
Total | — | $ | — | — | $ | 58,761,000 |
101.INS | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document (furnished herewith). | ||||
101.SCH | Inline XBRL Taxonomy Extension Schema Document (furnished herewith). | ||||
101.CAL | Inline XBRL Taxonomy Calculation Linkbase Document (furnished herewith). | ||||
101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document (furnished herewith). | ||||
101.LAB | Inline XBRL Taxonomy Label Linkbase Document (furnished herewith). | ||||
101.PRE | Inline XBRL Taxonomy Presentation Linkbase Document (furnished herewith). | ||||
104
|
Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101) (furnished herewith). |
WINNEBAGO INDUSTRIES, INC. | ||||||||||||||
Date: | June 23, 2021 | By: | /s/ Michael J. Happe | |||||||||||
Michael J. Happe
|
||||||||||||||
Chief Executive Officer, President | ||||||||||||||
(Principal Executive Officer) | ||||||||||||||
Date: | June 23, 2021 | By: | /s/ Bryan L. Hughes | |||||||||||
Bryan L. Hughes | ||||||||||||||
Chief Financial Officer and Senior Vice President | ||||||||||||||
(Principal Financial and Accounting Officer) |
1 Year Winnebago Industries Chart |
1 Month Winnebago Industries Chart |
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