{{featured_button_text}}
Winnebago 1

Workers walk in a production area of Winnebago Industries in Forest City in this file photo from April 2015.

FOREST CITY | Winnebago Industries Inc., which reported a nearly $100 million second-quarter revenue increase Wednesday, said it will share federal tax savings with its employees. 

The Forest City-based RV manufacturer announced its second-quarter revenues increased by 26.4 percent to $468.4 million, compared to $370.5 million the previous year. That's an increase of $97.9 million. 

The revenue increase is due to growth in the company's towable segment, Winnebago officials said. Revenues for towable products were $266.4 million for the quarter, up 55.2 percent over the prior year.

"Our Towables segment outpaced the industry with robust organic growth and impressive profitability across the Winnebago and Grand Design brands," Winnebago President/CEO Michael Happe said in a statement. 

Mike Happe

Happe

Due to the recently-enacted Tax Cuts and Jobs Act, Winnebago received a $2.3 million tax benefit, which Happe said would be shared with "hard-working Winnebago Industries employees in the form of a bonus and other selective wage adjustments."

The company also plans to use the benefit to make a donation to its foundation and accelerate facility improvements to create better work environments, Happe said. 

Other notable second-quarter results include $202 million in revenue for motorized products, up 1.5 percent from last year. 

As the company moves into the second half of its fiscal year, Happe said Winnebago is "well-positioned to capitalize on the upcoming retail season with an improving product line across both brands, increased capacity within our Grand Design business, and a focus to provide our customers with a high level of product quality and service support."

"We remain cautiously optimistic about the retail prospects for the RV industry this year and believe Winnebago and Grand Design inventory levels are appropriate in relation to our momentum and the addition of new products entering the market," Happe said. 

Get local news delivered to your inbox!

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Contact Ashley at 641-421-0556 or on Twitter @GGashkmiller. 

0
1
2
0
0

Load comments