Results for the RV Industry Association’s May 2025 survey of manufacturers found that total RV shipments ended the month with 28,150 units, a 15.1% decrease compared to the 33,150 units shipped in May 2024. To date, RV shipments are up 5.3% with 161,373 units.
“This summer, more than 44 million Americans plan to go RVing with nearly 7 million hitting the road to celebrate the upcoming Independence Day holiday,” said RV Industry Association President & CEO Craig Kirby. “While the industry continues to navigate uncertain economic conditions, the long-term pattern of growth for the industry remains with a recent study showing 16.9 million American households indicating they intend to join the RV lifestyle. These potential customers are younger and more diverse than ever before, showcasing the wide and enduring appeal of RVing.”
Towable RVs, led by conventional travel trailers, ended the month down (-17.2%) from last May with 24,997 shipments. Motorhomes finished the month up 6.1% compared to the same month last year with 3,153 units.
Park Model RVs finished May down (-2.4%) compared to the same month last year, with 353 wholesale shipments.
Results for the RV Industry Association’s May 2025 survey of manufacturers found that total RV shipments ended the month with 28,150 units, a 15.1% decrease compared to the 33,150 units shipped in May 2024. To date, RV shipments are up 5.3% with 161,373 units.
“This summer, more than 44 million Americans plan to go RVing with nearly 7 million hitting the road to celebrate the upcoming Independence Day holiday,” said RV Industry Association President & CEO Craig Kirby. “While the industry continues to navigate uncertain economic conditions, the long-term pattern of growth for the industry remains with a recent study showing 16.9 million American households indicating they intend to join the RV lifestyle. These potential customers are younger and more diverse than ever before, showcasing the wide and enduring appeal of RVing.”
Towable RVs, led by conventional travel trailers, ended the month down (-17.2%) from last May with 24,997 shipments. Motorhomes finished the month up 6.1% compared to the same month last year with 3,153 units.
Park Model RVs finished May down (-2.4%) compared to the same month last year, with 353 wholesale shipments.
EDEN PRAIRIE, Minn. – Winnebago Industries Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, today reported financial results for the fiscal 2025 third quarter ended May 31, 2025.
Net Revenues and EPS in Line with Preliminary Results Forecast
Towable RV Segment Achieves Unit Volume Growth as New Products Target Affordability
Continued Retail Share Gains Drive Marine Segment’s Strong Profitability Growth
Company Updates Fiscal 2025 Full-Year Outlook
Third Quarter Fiscal 2025 Financial Summary
Net revenues of $775.1 million
Gross profit of $106.0 million, representing 13.7% gross margin
Net income of $17.6 million, or $0.62 per diluted share; adjusted earnings per diluted share of $0.81
Adjusted EBITDA of $46.5 million, representing 6.0% adjusted EBITDA margin
CEO Commentary “Our fiscal third-quarter results reflect both the diverse dynamics of our business segments and the challenges posed by an uncertain economic environment,” said Michael Happe, President and Chief Executive Officer of Winnebago Industries. “While retail demand across the outdoor recreation sector remains soft, our dealer partners are navigating the market with prudence and agility. At Winnebago Industries, we continue to pursue discipline in every aspect of our operations. We are focused on protecting long-term profitability and sustaining strong customer relationships while aligning production closely with healthy field inventory turn targets. Most importantly, I want to thank our entire team for their dedication. Their commitment and resilience continue to power our progress and position us for future growth.”
“Winnebago Industries’ 67-year history of innovation is reflected in the exciting new products and model year updates launching across our portfolio,” Happe continued. “In our Towable RV segment, we are leaning into the growing consumer emphasis on affordability by introducing a range of competitively priced products that are meeting the needs of today’s buyers. New travel trailer offerings such as the Grand Design Transcend Series and the Winnebago Thrive are designed to deliver exceptional value and quality, ensuring that more families can experience the RV lifestyle without compromising on comfort or reliability. In our Motorhome RV segment, Grand Design RV’s entrance into the motorized market with the expanding Lineage Series and new product entries from Newmar are gaining share momentum. In our Marine segment, our Chris-Craft and Barletta brands also continue to grow market share, helping to drive a double-digit increase in profitability.”
Third Quarter Fiscal 2025 Results
Net revenues were $775.1 million, a decrease of 1.4% compared to $786.0 million in the third quarter of last year, driven by a reduction in average selling price per unit related to product mix, partially offset by targeted price increases. Volume growth in the Towable RV and Marine segments was partially offset by volume reductions in the Motorhome RV segment, as dealers continue their efforts to right-size field inventories in this segment.
Gross profit was $106.0 million, a decrease of 10.3% compared to $118.2 million in the third quarter of last year. Gross profit margin decreased 130 basis points in the quarter to 13.7%, primarily as a result of higher warranty experience and product mix, partially offset by operational efficiencies compared to prior year.
Selling, general and administrative expenses were $70.3 million, an increase of 1.9% compared to $69.1 million in the third quarter of last year, primarily due to investment to support the growth of the new Grand Design motorhome business.
Operating income was $30.2 million, a decrease of 30.7% compared to $43.5 million in the third quarter of last year.
Net income was $17.6 million, compared to net income of $29.0 million in the third quarter of last year. Reported earnings per diluted share was $0.62, compared to reported earnings per diluted share of $0.96 in the third quarter of last year. Adjusted earnings per diluted share was $0.81, a decrease of 26.4% compared to adjusted earnings per diluted share of $1.10 in the third quarter of last year.
Consolidated Adjusted EBITDA was $46.5 million, a decrease of 19.8%, compared to $58.0 million in the third quarter of last year.
Balance Sheet and Cash Flow As of May 31, 2025, cash and cash equivalents totaled $10.5 million. The Company had total outstanding debt of $539.9 million ($550.0 million of debt, net of debt issuance costs of $10.1 million) and working capital of $444.2 million. Cash flow used in operations was $25.3 million in the fiscal 2025 third quarter.
Quarterly Cash Dividend On May 16, 2025, the Company’s Board of Directors approved a quarterly cash dividend of $0.34 per share payable on June 25, 2025, to common stockholders of record at the close of business on June 11, 2025.
Outlook Based on its results through the first three quarters of fiscal 2025, current business conditions and its outlook for the remainder of the year, the Company is updating its fiscal 2025 guidance as follows:
Net revenues in the range of $2.7 billion to $2.8 billion
Reported earnings per diluted share of $0.50 to $1.00
Adjusted earnings per diluted share of $1.20 to $1.70(1)
“Although the macroeconomic backdrop presents near-term challenges, we remain confident in the resilience of our brands and the long-term potential of our end markets,” Happe said. “With a new leadership team in place, Winnebago motorhomes is launching a comprehensive margin recapture plan centered on refreshing the product line, boosting operational efficiency and rebuilding sustained profitability beginning in fiscal 2026. The growing appeal of the outdoor lifestyle—especially among younger and more diverse consumers—continues to drive strong interest in RVing and boating. This trend supports our view for meaningful growth across our portfolio as market conditions normalize.”
Q3 FY 2025 Conference Call Winnebago Industries, Inc. will discuss third quarter fiscal 2025 earnings results during a conference call scheduled for 9:00 a.m. Central Time today. Members of the news media, investors and the general public are invited to access a live broadcast of the conference call and view the accompanying presentation slides via the Investor Relations page of the Company’s website at http://investor.wgo.net. The event will be archived and available for replay for the next 90 days.
This video by Freightliner Custom Chassis Corp. provides dealer training on how to effectively walk a customer through the features of the S2RV, a Super C RV. The video emphasizes the importance of customer engagement and highlights key selling points, such as safety features, towing capacity, and the unique center-mounted fuel tank.
LAS VEGAS Nev. – With fuel efficiency and flexible lifestyles driving demand, hybrid camper vans are taking the RV world by storm, according to a release. Unicamp USA, a leading innovator in camper conversions, offers its latest pop-top conversions for two of the most popular hybrid minivans on the market: the Kia Carnival and Toyota Sienna.
The hybrid pop-top camper trend is booming thanks to its unmatched versatility. With the press of a button, families can transform their everyday minivan into a fully functional camper—ready for weekend getaways, road trips, or spontaneous outdoor escapes. These conversions allow owners to maintain high mileage and daily drivability while unlocking a new level of adventure.
Unicamp’s conversion package, priced at $16,000, includes a sleek and durable pop-top roof that adds standing room and sleeping space, transforming the vehicle into a multi-use, family-friendly mobile retreat. The result is a camper that’s efficient, practical, and ready for anything—without sacrificing comfort or style.
“We’re excited to bring this new level of freedom to hybrid vehicle owners,” said a Robin from Unicamp USA. “Our mission is to make van life more accessible, eco-friendly, and compatible with real family needs.”
This summer, more travelers are choosing to hit the open road, and Florida and Pennsylvania are emerging as surprise hot spots for those rolling in style.
According to new data from luxury RV rental company Allstar Coaches, bookings are up 24% in both Florida and Pennsylvania compared to this time last year. Plus, with summer travel heating up, the trend signals that RV life isn’t just a pandemic-era fling but instead, it’s quickly becoming a go-to way to explore the country without giving up creature comforts.
Why RVs Are Still the Road Trip MVP
Let’s be honest: flying definitely has its perks, but long security lines, delays, and unpredictable prices have many people reconsidering how they vacation. RVs, on the other hand, offer freedom on four wheels, plus your own bed, bathroom, and the ability to detour on a whim.
Unlike the classic image of a bulky, beige camper, today’s RVs are a far cry from camping rough. Think: queen-sized beds, full kitchens, flat-screen TVs, Wi-Fi, and even rooftop lounges. In other words, more glam than grit. That flexibility is part of why RV travel continues to grow in popularity, especially among families, retirees, and even remote workers chasing new scenery with their laptops.
JASPER, Ind. —Meyer Distributing Inc., a leader in automotive specialty products marketing and distribution, announces the addition of its Columbus, Ohio, crossdock. The crossdock will have a direct feed from Meyer’s Jasper, Ind., distribution hub, which houses one of the largest inventories of automotive accessories, crash and collision, 4×4/Off-Road, Tire & Wheel, RV, and trailer parts in the region, according to a release.
“Meyer stocks over 50 brands of tires, wheels, and related accessories,” states Scott Hohler, Meyer’s Category Sales Manager for Tire & Wheel. “Our experienced sales team can help size out the best package for a lifted truck or direct you to the hottest wheel to accentuate your ride. Please give our dedicated Tire & Wheel team a call today at 800-367-9344!”
“The Columbus, OH dock will provide top notch delivery service to Central Ohio with significantly upgraded daily capacity,” states Jeff Braun, CEO of Meyer. “We continue to invest in our fleet and infrastructure and are actively looking for both distribution and truck fleet acquisition opportunities. Interested parties should contact Meyer at [email protected].”
Registration is open for the RV Technical Institute’s (RVTI) Chassis and Slide-Out Workshopcourse, scheduled for Monday, July 28-31, at the RVTI facility in Elkhart, Ind, according to a News & Insights report by the RV Industry Association (RVIA).
Chassis training will be held on Monday, July 28 and Tuesday, July 29 and slide-out training will be held Wednesday, July 30 through Thursday, July 31.
Throughout the course, attendees will obtain 16hours of chassis training and 16 hours of slide-out training. The workshop incorporates all the necessary requirements to become Level 3 certified in chassis and slide-outs. Please note this one workshop will cover both subjects, and the courses cannot be separated.
Individuals must already have an RV Technical Institute Level 2 certification or higher to attend this event. Failure to meet the certification level pre-requisite will forfeit the registration fee and registration will be cancelled.
Through Frames, Above Floor, Slimrack, Slimrack+, and Schwintek slide systems, taught by Lippert
Accu-Slide and Exact-Slide, taught by BAL RV Products
The workshop is taking place at the RV Technical Institute’s facility in Elkhart, IN. The cost for enrollment is $100.00. There is limited space, so register today!
This is the fifth course in the RV Technical Institute’s 2025 Level 3 training workshop series, in which the Institute hosts workshops throughout the year that focus on the five different specialty areas.
Launched last year, this initiative makes it easier for RV technicians to acquire the needed specialty hours and elevate their knowledge of RV systems and components. Please note ths is the only chassis and slide-out course being offered this year.
Upon successful completion, participants obtain Level 3 certification for the specialty course they attended. Technicians who attend all five specialty workshops, including this one, will earn their Level 4 Master Certification.
Registration is open for the RV Technical Institute’s (RVTI) Chassis and Slide-Out Workshopcourse, scheduled for Monday, July 28-31, at the RVTI facility in Elkhart, Ind, according to a News & Insights report by the RV Industry Association (RVIA).
Chassis training will be held on Monday, July 28 and Tuesday, July 29 and slide-out training will be held Wednesday, July 30 through Thursday, July 31.
Throughout the course, attendees will obtain 16hours of chassis training and 16 hours of slide-out training. The workshop incorporates all the necessary requirements to become Level 3 certified in chassis and slide-outs. Please note this one workshop will cover both subjects, and the courses cannot be separated.
Individuals must already have an RV Technical Institute Level 2 certification or higher to attend this event. Failure to meet the certification level pre-requisite will forfeit the registration fee and registration will be cancelled.
Through Frames, Above Floor, Slimrack, Slimrack+, and Schwintek slide systems, taught by Lippert
Accu-Slide and Exact-Slide, taught by BAL RV Products
The workshop is taking place at the RV Technical Institute’s facility in Elkhart, IN. The cost for enrollment is $100.00. There is limited space, so register today!
This is the fifth course in the RV Technical Institute’s 2025 Level 3 training workshop series, in which the Institute hosts workshops throughout the year that focus on the five different specialty areas.
Launched last year, this initiative makes it easier for RV technicians to acquire the needed specialty hours and elevate their knowledge of RV systems and components. Please note ths is the only chassis and slide-out course being offered this year.
Upon successful completion, participants obtain Level 3 certification for the specialty course they attended. Technicians who attend all five specialty workshops, including this one, will earn their Level 4 Master Certification.
JACKSON CENTER, Ohio — Airstream, the iconic manufacturer of world-class recreational vehicles, announced the grand opening of exclusive dealership, Woodland of Kentucky.
Conveniently located less than 20 miles north of Lexington, the store and its expansive 12,000-square-foot indoor showroom are now open to the public, offering a comprehensive display of Airstream Travel Trailer and Touring Coach models. The newly established exclusive store also boasts five dedicated service bays and a substantial parts area to support the needs of current and prospective customers across the state.
Woodland Airstream opened in 1966 and the new Georgetown, Ky., location is the fourth exclusive Airstream store within its operation. Woodland has been an Airstream partner for nearly 60 years and maintains other exclusive stores in Grand Rapids and suburban Detroit, Mich., and Lebanon, Ind. Woodland Airstream has achieved Five Rivet dealership status, a company-awarded distinction that recognizes outstanding customer service contributions across five pillars, including authentic brand representation, superior shopping experience, seamless delivery service, quality service experience, and trusted long-term loyalty.
Woodland of Kentucky is located at 120 Wahland Hall Path, Georgetown, Kentucky 40324. The store is open Monday to Friday from 9 a.m. to 5 p.m. and Saturday from 10 a.m. to 1 p.m. The store is closed for business on Sunday.
