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| Above, The Beast at Jackson Hole, Wyoming. Photo by Armand Vaquer. |
Regular readers of this blog are aware that since the pandemic began last year, the RV industry has been seeing great numbers in sales and in rentals.
According to Seeking Alpha, Winnebago Industries (WGO) is one of the winners during the pandemic.
They reported:
I have been a bear on the economy and Winnebago (WGO) for several years. I assumed once government stimulus ended, the economy and RV shipments would falter. The pandemic provided a pin that burst the economy. Pfizer (PFE) and Moderna (MRNA) have both received Emergency Use Authorization for a COVID-19 vaccine, creating a pathway to reopening the economy. The outlook for the economy could brighten as more people return to corporate offices after the pandemic subsides.
In its most recent quarter, Winnebago reported revenue of $$839.9 million, up 34% Y/Y.
Revenue from Winnebago's reportable segments was $822 million, up 35% Y/Y. Winnebago temporarily closed factories when the pandemic first materialized in the first half of 2020. Things have changed for the better. RV shipments for the month of February rose 30% Y/Y; the secular trends in domestic travel and outdoor recreational activities remain intact for now.
To read more, go here.
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