Winnebago Industries on Wednesday announced that revenue from its marine division totaled $97.3 million in the company’s 2022 fiscal second quarter, driven by a more than 19-fold jump in boat units delivered.
Winnebago’s marine business, which includes Barletta Pontoon Boats and Chris-Craft Boats, delivered 1,322 units in the quarter that ended Feb. 26, the company said in its earnings press release. Sixty-nine units were delivered in the equivalent quarter in 2021. Marine revenue in that year-earlier quarter was $14.5 million, mainly from the Chris-Craft brand, which was acquired by Winnebago in 2018.
Adjusted earnings before interest, taxes, depreciation and amortization in the marine division was about $13 million in the recent quarter, an increase of $11.9 million over the year-earlier quarter. Winnebago said adjusted EBITDA margin in marine was 13.3 percent.
“Our second-quarter performance and record sales results at recent RV and marine trade shows further validate consumers’ embrace of the outdoor lifestyle,” Winnebago president and chief executive officer Michael Happe said in the statement.
As of Feb. 26, dealer inventories in marine totaled 2,062 units, the earnings statement showed. The marine unit’s backlog was $277.9 million.