WINNEBAGO INDUSTRIES INC

Winnebago Industries, Inc.

Overview

• Corporate structure: Winnebago Industries, Inc. and its wholly owned subsidiaries.
• Business focus: North American manufacturer of outdoor lifestyle products under the Winnebago, Grand Design, Chris-Craft, Newmar, and Barletta brands. Designer and manufacturer of advanced battery solutions (Lithionics) delivering house power for RVs, boats, specialty vehicles, and industrial applications.
• Primary products: Towable and motorized RVs, marine boats, specialty commercial vehicles, and battery systems.
• Production footprint:
  • Towable RVs: Indiana
  • Motorhome RVs: Iowa and Indiana
  • Marine boats: Indiana and Florida
  • Lithionics batteries: Clearwater, Florida
• Distribution: Primarily through independent dealers in the U.S. and Canada; some international distribution for marine products; battery solutions sold primarily in the U.S.
• Fiscal year end dates:
  • Fiscal 2026 ends August 29, 2026
  • Fiscal 2025 ends August 30, 2025
  • Fiscal 2024 ends August 31, 2024

Segments and product offerings

Towable RV

• Description: Non-motorized travel trailers and fifth wheels towed by vehicles for temporary living quarters and outdoor recreation.
• RVIA classifications: Conventional travel trailers, fifth wheels, travel trailers with expandable ends, folding camping trailers, truck campers, park models.
• Brands and models:
  • Winnebago: Access, Micro Minnie, Thrive Foundation, Imagine, Momentum, Reflection, Serenova, Transcend; fifth wheels including Influence, Momentum, Reflection, Solitude.
  • Grand Design: Travel trailer and fifth wheel lines (including Access, Imagine, Momentum, Reflection, Solitude where applicable).
• Price range (MSRP): Approximately $23,000 to $204,000, plus optional equipment and delivery.
• Length: 16 to 49 feet.
• Revenue mix: Includes parts and service sold through dealers; strategy includes proprietary manufactured parts distributed via the dealer network.

Motorhome RV

• Description: Self-propelled mobile dwellings built on heavy or medium chassis; available in diesel and gas configurations.
• RVIA classifications: Class A, Class B (van), Class C.
• Brands: Winnebago, Newmar, Grand Design.
• Price range (MSRP): Approximately $134,000 to $1,893,000, plus optional equipment and delivery.
• Length: 18 to 45 feet.
• Revenue mix: Includes parts and service sold through dealers; emphasis on proprietary parts distributed via the dealer network.

Marine

• Description: Premium recreational boats sold under the Chris-Craft and Barletta brands.
• Brands and models: Chris-Craft and Barletta (various models).
• Price range (MSRP): Approximately $33,000 to $893,000, plus optional equipment and delivery.
• Length: 19 to 35 feet.

Winnebago Specialty Vehicles

• Description: Custom-designed commercial vehicles, including law enforcement command centers, mobile medical clinics, mobile office spaces, and bare shells for third-party upfitters.
• Production and sales: Manufactured in Forest City, Iowa; sold through the dealer network.

Lithionics Battery, LLC

• Description: Lithium-ion battery solutions provider with NeverDie Technology for house power applications.
• Markets: Recreational equipment, specialty vehicles, and industrial applications.
• Production location: Clearwater, Florida.

Production and capacity

• Towable RVs: Produced at two Indiana assembly campuses with plans to reduce to one campus in Fiscal 2027.
• Motorhome RVs: Produced at four campuses in Iowa and Indiana with plans to reduce to three campuses in Fiscal 2027.
• Marine: Produced at two campuses in Indiana and Florida.
• Supply chain: Vertically integrated for most parts. Principal exceptions include chassis, engines, generators, and appliances, which are purchased from multiple suppliers. Motorhome RV chassis are sourced from a small group of suppliers.
• Production approach: Mostly produced to order with ongoing product updates and new floor plans, features, sizes, and decor.

Distribution and financing

• Dealer network: Over 750 physical dealer locations in the U.S. and Canada as of August 29, 2026.
• International reach: Marine products sold internationally through independent dealers; foreign sales have been less than 10% of net revenues in the past three fiscal years.
• Dealer financing: Most dealers use floorplan financing with banks or finance companies and may carry multiple product lines.
• Repurchase agreements for dealer financing defaults:
  • RV units: company may repurchase up to 18 months after financing.
  • Marine units: company may repurchase up to 24 months after financing.
  • Repurchase price: the amount then due, which is often less than the dealer invoice.
  • Company exposure to repurchases varies with dealer inventory levels, economic conditions, demand, location, and dealers' financing access. See Note 11 to the Consolidated Financial Statements for additional details.
• Revenue concentration: No single dealer organization accounted for more than 10% of net revenues in the past three fiscal years.