Month: August 2024

The mission of the RV Technical Institute is to provide world-class training for RV maintenance and repair that will increase the RV industry’s number of trained RV technicians available to service the millions of RVs on the road. 

The RV Technical Institute seeks to improve the RV consumer experience, reduce repair event cycle times, and reduce the RV industry’s shortage of trained technicians. 

Educational roles are a crucial component of the RV Technical Institute’s continued success and its training program. With that in mind, the Institute recently welcomed to the team their new Account Specialist, Katelin Richardson. 

“I’ll be working with my fellow Institute recruitment team members to help educate others on the RV technician career path,” Katelin says. “I’ll help interested individuals get started in the RV industry as technicians. I’ll also be working with our Authorized Learning Partners to make sure they have all the resources necessary to successfully implement our training and certification career paths within their organizations.”

Katelin joins the RV Technical Institute with a background in customer-facing roles. “I’ve worked in customer service my whole career,” Katelin says. “My most recent role was working for a staffing agency. I was a personnel supervisor there and helped people find jobs.”

In her new role, she is looking forward to helping interested individuals start a career in the RV industry. “I’m excited to meet with people— whether it be at high schools, technical schools, or the general public— and educate them on this program. It’s a great opportunity to start a rewarding career.”

Katelin adds that she is enjoying being a part of the Institute team’s ongoing efforts. “I’m super excited about this role. Since this is a fairly new program there are still endless opportunities for our team to get out there and tell people what we’re offering— and at an affordable price. This is a win all the way around because people can participate in inexpensive training for a short period of time and gain the tools to make a career out of this.”

When considering how the RV industry is meaningful to her own life, Katelin says: “This is an industry that’s built around fun! When people get in an RV, they know they’re on vacation. Being a part of something that brings so much joy to people’s lives is very rewarding. This is a career you can enjoy for the rest of your life.”

The post Meet Katelin Richardson, RVTI’s New Account Specialist first appeared on RVBusiness - Breaking RV Industry News.

FAIRFAX, Va. – The Mike Molino RV Learning Center is pleased to begin accepting applications for the 2025-2026 Duane Spader Leadership Development Scholarship. This scholarship honors the RV industry service of Duane Spader, a past chairman of RVDA, and a champion of life-long learning. To be eligible for this unique opportunity, an applicant must be an employee of an RVDA dealer member.

Through the Mike Molino RV Learning Center and NCM Associates leadership development partnership, a scholarship is awarded annually to give one current or future leader the opportunity to participate in the program tuition-free.

The deadline for scholarship applications is September 3, 2024. The recipient receives full tuition valued at $13,850 to attend the 12 to 18-month Leadership Development Program (LDP). The recipient will only be responsible for travel expenses. In addition, an applicant must be an employee of an RVDA US dealer member. Learn more and apply at the RV Learning Center website.

The NCM LDP consists of six, three-day sessions. In between sessions, participants are tasked with putting what they’ve learned to work in their dealership and tracking the results of those efforts through assignments and one -on-one sessions with an NCM coach. The recipient will be selected shortly after the application deadline in ample time to prepare for the first session scheduled for early 2025.

Upon graduating from the program, participants will know how to:

• •    Lead their organization’s culture and strategy
• •    Improve their leadership and management effectiveness
• •    Coach their team to higher performance
• •    Effectively understand and manage each area of North Star Model
• •    Hire the best candidates for each position
• •    Deliver world-class customer service
• •    Assess and improve their dealership’s organizational and financial health

Go to spader.com/product/leadership-development-program for additional details about the Leadership Development Program.

The post RV Learning Center Accepting Apps for Spader Scholarship first appeared on RVBusiness - Breaking RV Industry News.

WFCO Technologies – one of the RV industry’s leaders in power conversion and management products – has expanded its Power Pro product lineup, according to a release.  Power Pro is a digital control system featuring voice recognition technology designed specifically for the RV industry. 

Utilizing AI (artificial intelligence), the Patent Pending Power Pro control system has been developed and trained with cutting edge technology to control RV specific devices through the button-based control panel, by voice commands, and via the robust mobile app.  With the features and customizations embedded into the Power Pro system, owners have the capability at their fingertips for enhanced control and a simplified operation of their RV.

According to Bobby Raatz, vice president of operations at WFCO Technologies, “The advancement of Power Pro and its connected technologies is a key focal point for the WFCO team.  With a solid base platform established, we are now pushing ahead with expanding the features and functionality of the system to simplify and enhance the RVing experience.”

The WF-3610 Power Pro Control System provides expanded capabilities with unmatched customization and controls without the need for data connectivity.  All system features are embedded and fully functional offline, including all voice commands.  This system is designed and optimized to perform in the unique RV environment, providing RV owners with a reliable and responsive digital control system.

WFCO Technologies’ WF-3610 system is in production and featured in the 2025 model year Forest River Rockwood Geo Pro and Flagstaff E-Pro brands.

According to Duane Yoder, operations manager for Rockwood/Flagstaff, “We’re thrilled to announce our partnership with WFCO for the Power Pro product. It brings the convenience of voice commands, familiar to many through Siri and Alexa, to the world of RVs. This advancement reflects where technology is headed, making RV operation easier than ever. For those who prefer traditional controls, Power Pro also offers state-of-the-art push-button and app-driven operations. It’s the best of both worlds.”

Raatz added, “We are excited to launch this first set of expansion features with the highly regarded and innovative Geo Pro and E-Pro brands.  Additionally, we look forward to showcasing even more at the at the RV Hall of Fame Supplier Show in September.”

WFCO Technologies is available for Power Pro system demonstrations at OEM locations.  Please contact your WFCO sales rep to secure your appointment.  You may also contact WFCO Technologies directly at 574-294-8997 for more information on Power Pro and all your other WFCO product needs.

Since 1976, WFCO Technologies has been at the forefront of the trends in the RV power supply industry, continuing to innovate the future of power conversion products that are preferred more than 4 -to-1 by RV manufacturers.

The post WFCO Technologies’ Power Pro Added to Geo Pro, E-Pro first appeared on RVBusiness - Breaking RV Industry News.

PHOENIX – Cavco Industries, Inc. (Nasdaq: CVCO) announced financial results for the first fiscal quarter ended June 29, 2024.

Quarterly Highlights

• Net revenue was $478 million, up $2 million or 0.4% compared to $476 million in the first quarter of the prior year, primarily on home sales volume growth.
• Sequentially, home sales volume is up 20% and capacity utilization is up to approximately 65% from approximately 60%.
• Factory-built housing Gross profit as a percentage of Net revenue was 22.6%, compared to 24.8% in the prior year.
• Financial services Gross loss as a percentage of Net revenue was (0.6)%, compared to Gross profit of 24.0% in the prior year. The segment pretax net loss of $5.2 million resulted in a reduction in Diluted net income per share of approximately $0.49 on an after tax basis. The loss was caused by unusually high insurance claims from multiple weather events in Texas, as well as the wildfires in New Mexico.
• Income before income taxes was $44 million, down $17 million or 27.9% compared to $61 million in the prior year period.
• Net income per diluted share attributable to Cavco common stockholders was $4.11 compared to $5.29 in the prior year quarter.
• Backlogs totaled $232 million at the end of the quarter, up $41 million, or 21.4%, from $191 million three months ago, with modules in the backlog growing 22%.
• Stock repurchases were approximately $29 million in the quarter.

Commenting on the quarter, President and Chief Executive Officer Bill Boor said, “The momentum we experienced exiting the fourth quarter carried through the first quarter. Orders continued to increase, resulting in production increases and a growing backlog.”

He continued, “While our factory-built housing results showed continuing improvement, our consolidated results were negatively impacted by very high claims costs in our insurance operations. Those claims were driven by unusually high storm activity in Texas and the Ruidoso fires in New Mexico. While weather related events are unpredictable, our insurance operation has performed well over time, and we continue to actively manage our exposure. Overall, teams across the Company are stepping up to continued market improvement and the opportunity to help more families achieve homeownership.”

About Cavco

Cavco Industries, Inc., headquartered in Phoenix, Arizona, designs and produces factory-built housing products primarily distributed through a network of independent and Company-owned retailers. We are one of the largest producers of manufactured and modular homes in the United States, based on reported wholesale shipments. Our products are marketed under a variety of brand names including Cavco, Fleetwood, Palm Harbor, Nationwide, Fairmont, Friendship, Chariot Eagle, Destiny, Commodore, Colony, Pennwest, R-Anell, Manorwood, MidCountry and Solitaire. We are also a leading producer of park model RVs, vacation cabins and factory-built commercial structures. Cavco’s finance subsidiary, CountryPlace Mortgage, is an approved Fannie Mae and Freddie Mac seller/servicer and a Ginnie Mae mortgage- backed securities issuer that offers conforming mortgages, non-conforming mortgages and home-only loans to purchasers of factory-built homes. Our insurance subsidiary, Standard Casualty, provides property and casualty insurance to owners of manufactured homes.

The post Cavco Industries Reports Fiscal 2025 First Quarter Results first appeared on RVBusiness - Breaking RV Industry News.

MIDDLEBURY, Ind. – Grand Design RV announces the highly anticipated La Mesa Rec Van Kick-Off Tour, featuring the all-new Lineage Series-M, according to a release. This tour will spotlight the company’s 25FW floorplan in “Midnight Slate” full body paint, traveling through key locations in the Southwest, starting in Albuquerque, N.M., and culminating in San Diego, Calif.

Tour Schedule

• Aug. 3 – Albuquerque, NM
• Aug. 5 – Tucson, Ariz.
• Aug. 6 – Mesa, Ariz.
• Aug. 7 – Phoenix, Ariz.
• Aug. 9 – San Diego, Calif.

Dealer Training 8:30-10 a.m.; Open Unit for Customers 10 a.m. to 2 p.m.

In partnership with La Mesa RV, Grand Design ensures that attendees receive an exclusive first look at the Series-M 25FW, the release continued. Attendees can expect engaging and informative sessions, making this tour a must-see for consumers.

Leading the charge is Brent McKnight, regional sales representative for Lineage. McKnight is the dynamic force behind this tour, committed to elevating product knowledge and expertise with the Lineage brand. His mission is to ensure that every dealership team is equipped to deliver unforgettable experiences as they engage with Lineage.

“I thrive on competition and the chance to work closely with dealers. It’s all about equipping them with the knowledge and tools they need to deliver an exceptional customer experience,” said McKnight. “This tour isn’t just about showcasing an incredible RV; it’s about building relationships and sharing our excitement for the Lineage brand.”

Tommy Hall, general manager for Grand Design, shares this enthusiasm, saying, “Our team has worked tirelessly to bring this product line to life. This tour is a fantastic opportunity to showcase their dedication and hard work. We can’t wait for consumers to see what we’ve accomplished—all in an effort to enhance their experience.”

The Lineage brand is focused on innovative designs, commitment to quality, and unique market approach. This Kick-Off Tour illustrates Grand Design’s dedication to excellence.

For those who can’t attend the tour in person, visit www.granddesignrv.com for more information on our 25FW floor plan. Follow Grand Design RV and La Mesa RV on social media for live updates and behind-the-scenes content from each tour stop.

The post Grand Design’s Lineage Embarks on La Mesa Kick-Off Tour first appeared on RVBusiness - Breaking RV Industry News.

From Noovo: Officials at Noovo, a leader in the RV industry, says the company’s Noovo Lite is the latest innovation in Class B Campervan mobile living.

The Noovo Lite Class B Campervan is engineered to provide the ultimate blend of comfort, style, and functionality in a compact, easy-to-maneuver package. Perfect for both seasoned travelers and newcomers alike, this campervan is designed to enhance every journey with premium features and modern conveniences.

Key Features

• Compact Luxury: Despite its sleek, streamlined design, the Noovo Lite offers spacious living areas, including a fully equipped kitchenette with elevated fridge, a comfortable sleeping area featuring a queen bed, and a stylish bathroom with dedicated toilet and shower.
• Advanced Technology: Equipped with the latest tech, including smart navigation systems, energy-efficient solar panels, lithium batteries and Starlink WiFi to keep you connected on the go.
• Convenience: The Noovo Lite has 40-gallon gray and fresh water storage tanks allowing users to go a decent amount of time without having to empty or refill. 
• Enhanced Mobility: Its compact size ensures easy handling and parking, making it ideal for both urban exploration and off-the-beaten-path adventures.
• Premium Comfort: From luxurious upholstery to state-of-the-art climate control, every detail is crafted to ensure a first-class travel experience.

Why It Matters

In an era where travelers are seeking greater flexibility and comfort, the Noovo Lite Class B Campervan meets these demands with an innovative design that marries luxury with practicality. Its versatility and high-end features cater to a wide range of lifestyles, from weekend warriors to full-time explorers. This model starts at $162,700 with financing options available.

The RVBusiness Featured Video is sponsored by Curt, a Lippert Brand.

The post OEM Showcase: Noovo Lite B-Van Offers ‘Comfort & Style’ first appeared on RVBusiness - Breaking RV Industry News.

JASPER, Ind. – Meyer Distributing announces its 2024 Second Quarter Outstanding Sales Performance Award. This award recognizes sales account managers who consistently exceed expectations at Meyer Distributing.

The 2024 Second Quarter Outstanding Sales Performance Award goes to Kent Rees, senior sales account manager.

“19 years of knowledge, passion and relationships made Kent a great recipient of this award,” states Jeremy Schnaus, category sales manager for Traditional Truck & Outdoor. “Kent’s peers and customers all value the knowledge he has gained during his time at Meyer. The passion and reliability he gives to his customers is instrumental in how he builds his relationships. Meyer is lucky to have someone so dedicated that goes above and beyond for his customers.”

“Being with Meyer for 19 years has allowed me to work with a lot of great people – customers, co-workers and vendors,” Rees said. “Meyer has always allowed me to bring ideas to the table and values input from all employees. It is great coming in each and every day to a great work environment with awesome co-workers who love what they do. Being at Meyer as long as I have has allowed me to build valuable relationships with customers in the automotive industry who have become close friends as well. I greatly appreciate the recognition and look forward to more exciting times and opportunities in the future.”

Meyer Distributing is a complete international automotive and RV/towing distributor. With 107 locations nationwide and over 3,500,000 square feet of warehouse space, Meyer has a huge inventory of parts to service their customers. With strategically positioned warehouse facilities, Meyer Distributing is able to provide next day delivery to most locations using Meyer Logistics direct ship.

The post Meyer Dist. Announces 2024 Q2 Sales Performance Award first appeared on RVBusiness - Breaking RV Industry News.

NAPPANNEE, Ind. – Gulf Stream Coach, America’s largest family-owned RV manufacturer, announces the debut of the Trail Boss 140BH, the latest addition to its ultra-lightweight line of travel trailers. Designed for adventurers who crave freedom and flexibility, the Trail Boss 140BH offers a perfect blend of comfort, durability and affordability, according to a release.

The Trail Boss 140BH packs essential living amenities into a compact, incredibly light yet rugged package. This innovative travel trailer opens up new worlds of exploration for campers, the release continued, providing a portable oasis of comfort, security, entertainment and basic necessities.

“Our goal with the Trail Boss 140BH was to make it easy for outdoor enthusiasts to discover, explore, and escape,” said Phil Sarvari, president of Gulf Stream Coach. “We’ve created a trailer that is budget-friendly, without compromising on features or quality.”

The Trail Boss 140BH comes equipped with an impressive list of standard features, including:

• Solar power energy management system
• Off-grid refrigerator
• Gas heater and water heater
• Smooth front exterior design
• Outdoor shower
• Cooktop and microwave
• Air conditioning
• Extra ground clearance
• Bluetooth portable speaker
• Exterior storage
• Solid step entry

Designed to be easy to tow and park, the Trail Boss 140BH is perfect for a wide variety of camping situations. At just 2,510 pounds dry weight, its lightweight construction ensures that a wide variety of vehicles can safely tow this versatile trailer, making outdoor adventures more accessible than ever.

“Go anywhere, go anytime,” said Sarvari.

The Trail Boss 140BH is now available at Gulf Stream Coach dealerships nationwide. For more information about the Trail Boss series or to find a dealer near you, visit www.gulfstreamcoach.com.

About Gulf Stream Coach

Gulf Stream Coach is the country’s largest family-owned manufacturer of recreational vehicles. The Nappanee, Indiana-based company has been building travel trailers and motor homes for over 40 years. It has received multiple awards for quality and innovation.

The post Gulf Stream Coach Showcases New Trail Boss 140BH first appeared on RVBusiness - Breaking RV Industry News.

Sun Communities, Inc. (NYSE: SUI), a real estate investment trust (REIT) that owns and operates, or has an interest in, manufactured housing (MH) and recreational vehicle (RV) communities and marinas, has reported its second-quarter results for 2024.

Financial Results for the Quarter and Six Months Ended June 30

• For the quarter ended June 30, net income attributable to common shareholders was $52.1 million, or $0.42 per diluted share, compared to a net loss attributable to common shareholders of $207.6 million, or $1.68 per diluted share for the same period in 2023.
• For the six months ended June 30, net income attributable to common shareholders was $24.7 million, or $0.20 per diluted share, compared to a net loss attributable to common shareholders of $252.5 million, or $2.04 per diluted share for the same period in 2023.

Non-GAAP Financial Measures

• Core Funds from Operations for the quarter and six months ended June 30, was $1.86 per common share and dilutive convertible securities and $3.05 per share, respectively, as compared to $1.96 and $3.19 for the same periods in 2023.

Same Property Net Operating Income (“NOI”)

• North American Same Property NOI increased by $10.4 million and $29.8 million, or 3.6% and 5.6%, respectively, for the quarter and six months ended June 30, as compared to the corresponding periods in 2023.
• UK Same Property NOI increased by $1.7 million and $5.0 million, or 9.3% and 19.4%, respectively, for the quarter and six months ended June 30, as compared to the corresponding periods in 2023.

“We are pleased to have delivered solid second-quarter results while advancing our strategy focused on delivering reliable earnings growth. In our Manufactured Housing and Marina segments we saw strong NOI growth supported by sustained demand,” said Gary A. Shiffman, chairman, president and CEO. “We are also seeing growth in annual RV revenues, and while transient RV is still experiencing some headwinds, we are actively managing our controllable expenses. Our UK strategy remains focused on shifting a larger proportion of our income from home sale margins to the resilient, reliable NOI generated by real property rents. Finally, we are executing on our capital recycling objectives. Year to date, we have sold over $300 million of properties and used the proceeds to pay down debt.”

OPERATING HIGHLIGHTS

North America Portfolio Occupancy

• MH and annual RV sites were 97.5% occupied on June 30, as compared to 97.1% on June 30, 2023.
• During the quarter that ended June 30, the number of MH and annual RV revenue-producing sites increased by approximately 1,230 sites, as compared to an increase of approximately 1,040 sites during the corresponding period in 2023, an 18.7% increase.
• Transient-to-annual RV site conversions totaled approximately 920 sites during the second quarter of 2024, a 22.7% increase over the second quarter of 2023.

INVESTMENT ACTIVITY

During and subsequent to the quarter ended June 30, the company completed the following dispositions:

• In July, a portfolio of six MH properties across six states for total cash consideration of $224.6 million, with an estimated gain on sale of approximately $140.0 million.
  • Net proceeds were used to pay down $62.3 million of mortgage debt and $151.1 million of borrowings under the Company’s Senior Credit Facility.
• In July, one MH property was for a total cash consideration of $38.0 million.
  • • Net proceeds were used to pay down $16.7 million of mortgage debt and $20.3 million of borrowings under the Company’s Senior Credit Facility.
• In May, one Park Holidays property for total cash consideration of $5.4 million.

During the quarter ended June 30, the company acquired:

• In April, one marina property and two marina expansion assets for a total consideration of $12.0 million including the issuance of common OP units valued at $2.5 million.
• In June, a parcel of land in the UK for a total consideration of $9.6 million, will support the future expansion of an existing Park Holidays property.

To read the full report, click here. 

The post Sun Communities ‘Pleased’ With Second Quarter ‘24 Results first appeared on RVBusiness - Breaking RV Industry News.

AKRON, Ohio – Myers Industries Inc. (NYSE: MYE), the parent company of Ameri-Kart and Elkhart Plastics and a leading manufacturer of a wide range of polymer and metal products and distributor for tire, wheel, and under-vehicle service industry, today announced results for the second quarter ended June 30, 2024.

Second Quarter 2024 Financial Highlights

• Net sales of $220.2 million compared with $208.5 million in the prior-year period
• Net Income of $10.3 million, compared with $10.6 million in the prior-year period
• Adjusted EBITDA of $38.9 million, compared with $24.7 million in the prior-year period
• GAAP gross margin of 34.3%, up 150 basis points versus the prior-year period
• Adjusted gross margin of 36.1%, up 320 basis points versus the prior-year period
• GAAP net income per diluted share of $0.28 compared with $0.29 in the prior-year period
• Adjusted earnings per diluted share of $0.39 compared with $0.35 in the prior-year period
• Cash flow provided by operations of $14.3 million and free cash flow of $9.9 million

Myers Industries President and CEO Mike McGaugh commented, “Our second-quarter results reflect the Company’s first full quarter with Signature Systems. This business is benefiting from worldwide investments in Infrastructure and helped drive both sequential and year-over-year revenue growth and margin expansion. Signature’s performance outpaced the demand headwinds in the Recreational Vehicle (RV), Marine, and Automotive Aftermarket end markets.”

“We continue to focus on growing our Storage, Handling & Protection portfolio, most notably our four power brands: Akro-Mils, Buckhorn, Scepter, and Signature Systems. We believe our increased participation in the Military and Infrastructure end markets will provide meaningful growth for our Company over the next several years.

At the same time, we are taking actions to reduce costs and increase productivity in the Engineered Solutions and Automotive Aftermarket portfolios. These actions include the consolidation of three distribution centers in our Myers Tire Supply business, as well as today’s announcement of the consolidation of our Atlantic, Iowa, rotational molding facility into our other rotational molding plants in Indiana. We are able to reduce our footprint and reduce our cost structure, due to the productivity gains we’ve achieved. We expect these closures to be completed in 2025 and deliver approximately $5 million in cost savings in 2025 as well.

Our ongoing productivity-improvement and cost-reduction initiatives will help us navigate the cyclical demand conditions in the RV, Marine, and Automotive Aftermarket end markets while positioning the Company favorably for when these conditions revert to historical levels of demand.”

McGaugh concluded, “As a result of continued trough-like demand conditions in these end markets, we believe it is prudent to lower our full-year adjusted earnings per share guidance to a range of $1.05 to $1.20.

Myers’ consistent and disciplined execution of our Three-Horizon strategy and the expansion of our portfolio of branded products enabled us to achieve the highest quarterly adjusted EBITDA margin of the past decade. Despite the near-term demand softness in select end markets, we remain excited about the ongoing transformation of Myers Industries as we execute against our long-term strategy to build a portfolio of businesses with high margin, branded products that Move, Store, and Protect.”

Click here to read the report in full.

The post Myers Industries Announces Second Quarter 2024 Results first appeared on RVBusiness - Breaking RV Industry News.