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Chris-Craft parent reports 19 percent jump in Q1 sales

Chris-Craft Winnebago

Chris-Craft parent Winnebago Industries today reported sales of $588.5 million for its first fiscal quarter of 2020, an increase of 19.2 percent over the same period a year ago. The company said sales, excluding its recent acquisition of Newmar, were $552.8 million for the quarter, up 12 percent over a year ago. Net income was $14.1 million, a decline of 36.5 percent compared to a year ago.

The company did not release Chris-Craft results.

“Overall revenue growth remains strong, driven by vibrant Class B sales in our Motorhome segment and another stellar quarter from Grand Design in the Towable segment. These businesses are driving significant market share gains in the RV industry,” said Michael Happe, Winnebago president and CEO, in a statement. “Our RV retail market share is now 10.8 percent on a trailing three-month basis through October, up 1.7 share points over the prior year period and exceeding our 2020 goal of 10 percent we established in November 2017.”

The company reported strong results across its RV lines. Sales for its Towable segment were $341.3 million, up 16.5 percent over the prior year. Motorhome segment sales were up 24.6 percent over the prior year to $225.9 million.

“We are eager to build upon the tremendous progress we’ve made toward enhancing our position as a leader in premium outdoor lifestyle solutions,” Happe said. “The acquisition of Newmar is pivotal in increasing our competitiveness, and we are excited about the accretion Newmar brings to our portfolio — culturally, strategically and financially. We enter fiscal 2020 with a stronger business that now includes four of the most iconic brands in the outdoor lifestyle arena: Winnebago, Grand Design, Newmar and Chris-Craft.” 

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