Winnebago Industries (NYSE:WGO) reported strong results for the first quarter of fiscal 2026, ending November 29, 2025, with solid top-line growth, improved margins, and significantly stronger cash flow compared to the prior year.
The company reported net revenues of $702.7 million, an increase of 12.3% from the same quarter last year.
Gross profit for the quarter was $89 million, resulting in a gross margin of 12.7%.
Winnebago also posted net income of $5.5 million, or $0.19 per diluted share, while adjusted EPS reached $0.38, reversing an adjusted loss of $0.03 in the prior year.
The company saw a remarkable adjusted EBITDA increase of 109.7% year-over-year, reaching $30.2 million, and operating cash flow improved significantly to $25.4 million, compared to a negative $16.7 million in the previous year.
Winnebago also improved its net leverage to 2.7x.
As part of the positive outlook, the board of directors declared a quarterly dividend of $0.35 per share, payable on January 28, 2026.
Building on this strong performance, Winnebago raised its guidance for the full fiscal year 2026, projecting consolidated net revenues to range between $2.8 billion and $3 billion, reported EPS to be between $1.40 and $2.10, and adjusted EPS to range between $2.10 and $2.80.