EDEN PRAIRIE, Minn. – Winnebago Industries, Inc. (NYSE: WGO), a leading manufacturer of outdoor recreation products, on Feb. 3 announced that it commenced a cash tender offer (the “Tender Offer”) to purchase its 6.250% Senior Secured Notes due 2028 (CUSIP No. 974637AC4 / U9701TAA4) in a principal amount of up to $75,000,000, exclusive of any applicable premiums paid in connection with the Tender Offer and accrued and unpaid interest. The terms and conditions of the Tender Offer are set forth in an Offer to Purchase dated Feb. 3, 2025, which is being sent to all registered holders (collectively, the “Holders”) of Notes.

“This tender offer reflects our commitment to enhancing long-term shareholder value through a disciplined capital allocation strategy,” said Michael Happe, President and Chief Executive Officer of Winnebago Industries. “By leveraging our strong liquidity position, we can optimize our capital structure while continuing to drive innovation through strategic organic and inorganic investments.”

Bryan Hughes, the Company’s Chief Financial Officer, added, “This tender offer exemplifies our proactive strategy to effectively manage leverage through the cycle via our strong cash flow generation and accumulation. We have generated strong free cash flow over time enabling us to fund organic and inorganic investments, while also returning cash to shareholders. This tender reduces our higher-cost debt and reaffirms our commitment to executing on our capital priorities in a balanced manner.”

Holders of Notes must validly tender and not validly withdraw their Notes on or before 5:00 p.m., New York City time, on February 14, 2025, unless extended (such date and time, as the same may be extended, the “Early Tender Date”) in order to be eligible to receive the Total Consideration. Holders of Notes who validly tender their Notes after the Early Tender Date and on or before the Expiration Date (as defined below) will be eligible to receive only the applicable Base Consideration, which is equal to the Total Consideration minus the Early Tender Premium, as set forth in the table above. In addition to the applicable consideration, Holders whose Notes are accepted for purchase in the Tender Offer will receive accrued and unpaid interest to, but excluding, the date on which the Tender Offer is settled. The settlement date for Notes validly tendered and accepted for purchase before the Early Tender Date (if the Company elects to do so) is currently expected to be on or about February 20, 2025, and the final settlement date, if any, is expected to be March 7, 2025.

The Tender Offer will expire at 5:00 p.m., New York City time, on March 4, 2025, unless extended (such date and time, as the same may be extended, the “Expiration Date”). As set forth in the Offer to Purchase, validly tendered Notes may be validly withdrawn at any time on or before 5:00 p.m., New York City time, on February 14, 2025, unless extended (the “Withdrawal Deadline”).

The consummation of the Tender Offer is subject to the satisfaction of certain conditions as set forth in the Offer to Purchase. The Company reserves the right, in its sole discretion, to waive any and all conditions to the Tender Offer with respect to the Notes.

If any Notes are validly tendered and the principal amount of such tendered Notes exceeds the Tender Cap as set forth in the table above, any principal amount of the Notes accepted for payment and purchased, on the terms and subject to the conditions of the Tender Offer, will be prorated based on the principal amount of validly tendered Notes, subject to the Tender Cap and any prior purchase of Notes on any day following the Early Tender Date and prior to the Expiration Date.

Any Notes that are validly tendered at or prior to the Early Tender Date (and not validly withdrawn at or prior to the Withdrawal Deadline) will have priority over any Notes that are validly tendered after the Early Tender Date. Accordingly, if the principal amount of any Notes validly tendered at or prior to the Early Tender Date (and not validly withdrawn at or prior to the Withdrawal Deadline) and accepted for purchase equals or exceeds the Tender Cap, no Notes validly tendered after the Early Tender Date will be accepted for purchase.

The Company’s obligations to accept any Notes tendered and to pay the applicable consideration for them are set forth solely in the Offer to Purchase. This press release is neither an offer to purchase nor a solicitation of an offer to sell any Notes. The Tender Offer is made only by, and pursuant to the terms of, the Offer to Purchase, and the information in this press release is qualified by reference to the Offer to Purchase. Subject to applicable law, the Company may amend, extend, waive conditions to or terminate the Tender Offer.

J.P. Morgan Securities LLC is the Dealer Manager for the Tender Offer. Persons with questions regarding the Tender Offer should contact J.P. Morgan Securities LLC at (866) 834-4666 (toll-free) or (212) 834-4818 (collect). Requests for copies of the Offer to Purchase should be directed to D.F. King & Co., Inc., the Tender and Information Agent for the Tender Offer, at (212) 269-5550 (banks and brokers), (800) 848-2998 (toll-free) or email at [email protected].

The post Winnebago Industries Inc. Announces Cash Tender Offer first appeared on RVBusiness - Breaking RV Industry News.

EDITOR’S NOTE: The following was written by Matt Richards, an account executive at IDS, which also produced the infographic below.

Having spent many years in dealership operations, I’ve learned that stability doesn’t come from unit sales alone. Fixed absorption — the ability of your service and parts departments to cover all your dealership expenses minus the cost of sales — is the real key to consistent success.

It’s not just about surviving market fluctuations. It’s about thriving despite them.

If your dealership isn’t actively working toward achieving fixed absorption, now is the time to start. It’s one of the best ways to build a resilient, recession-proof business. While fixed absorption has long been a benchmark in the auto industry, the RV industry still has a lot of ground to cover. With margins tightening, dealerships must focus on delivering exceptional service to stay competitive.

Over the years, we’ve seen how service demand rises during economic downturns, and service and parts margins are far more stable than unit sales. With most dealerships already facing a year-long service backlog, there’s an untapped opportunity to generate reliable revenue. By improving customer appointment management, limiting repair events per work order, and minimizing technician downtime, your dealership can overcome these challenges and deliver exceptional service while building a more substantial, more resilient business.

This infographic outlines the steps to help your dealership achieve fixed absorption and secure long-term success. Take a look — it’s worth your time.

About the Author

Matt Richards has worked in the retail side of the RV industry for 25+ years and has done almost every job in a dealership setting. He’s owned his own dealership. He sold that dealership. He remained a partner and worked as a GM of the original location, fixed-ops director of multiple locations as they grew, and eventually chief of operations for the organization of nine locations. During that time, he leveraged IDS to run the organization, and now he’s trying to help other dealers do the same.

The post IDS to Dealers: Road to Fixed Absorption Leads to Success first appeared on RVBusiness - Breaking RV Industry News.

CINCINNATI, Ohio — Roadtrippers, a leading planning app, is expanding its map with 58 brand-new Extraordinary Places for 2025 — each one a must-see stop that transforms an ordinary road trip into an unforgettable adventure. Handpicked and voted on by Roadtrippers users and team experts, these detour-worthy destinations exemplify the iconic, the quirky, and the unforgettable. With these additions, Roadtrippers strengthens its mission to turn road trips into once-in-a-lifetime experiences, according to a release.

What Are Extraordinary Places? 

Extraordinary Places aren’t just stops on a map—they’re the stories you bring home. These are the breathtaking landscapes, quirky roadside wonders, and hidden gems that make road trips legendary. Each location is carefully curated by Roadtrippers’ team of travel enthusiasts to ensure every stop is truly worth the detour. From iconic landmarks to offbeat treasures, these are the places that turn a simple drive into an extraordinary journey.

“Every great road trip has that one stop you can’t stop talking about. These new Extraordinary Places are those—the ones that make you pull over, snap a photo, and tell your friends. We’re thrilled to help travelers discover even more of them in 2025,” said Mary Heneen, CEO of Roadpass, the parent company of Roadtrippers.

Why Roadtrippers Stands Out 

Roadtrippers sets itself apart by offering a unique blend of detailed trip planning tools and curated destinations, including its celebrated Extraordinary Places collection. With over 300 stops and counting, each location features custom illustrations, insider reviews, and practical planning tools to make every trip seamless and exciting. From quirky roadside attractions to awe-inspiring natural landscapes, Roadtrippers brings together the fun and functionality needed for the ultimate road trip experience.

Explore and Plan Your Next Adventure 

Explore all 300+ Extraordinary Places — including 58 new additions for 2025 — on the Roadtrippers map. Plan your next adventure effortlessly with Roadtrippers Autopilot, the AI-powered tool that builds custom trips for you, ensuring every journey is packed with incredible stops.

About Roadtrippers

Roadtrippers is the No. 1 road trip planning app, helping users explore the world by streamlining discovery, planning, booking, and navigation into an intuitive process. To date, Roadtrippers has helped millions plan more than 38 million trips across 7 million points of interest, covering over 42 billion miles.

The post Roadtrippers Expands ‘Extraordinary Places’ Map for ’25 first appeared on RVBusiness - Breaking RV Industry News.

OLATHE, Kan. – Garmin (NYSE: GRMN) today announced in a press release SERV+ — the ultimate control panel for travelers who want a smart RV experience with a sleek, modern touchscreen display.

Serving as command central for the RV, drivers and passengers can easily control onboard entertainment, monitor security camera feeds, change the temperature settings and adjust other systems throughout the cabin — all from a single screen. And for a hands-free option, voice commands can control systems from anywhere in the RV, the release stated.

“SERV+ is a must have for any RV adventure. It puts the power of multiple physical switches into one easy-to-use touchscreen display, saving time and space so customers can focus more on making memories. We’re proud to give adventurers this streamlined RV experience they won’t want to travel without,” said Dan Bartel, Garmin vice president of global consumer sales

Top features for an enhanced onboard experience incluce:

• Easily integrate: Control onboard music, lights, temperature settings and more by integrating with Garmin, Fusion®, EmpirBus and JL Audio® products.
• App support: Control functions while outside the RV by conveniently connecting to the Garmin RV Controls App on smartphones and tablets.
• Voice command capabilities: A simple “OK, Garmin” gives users a hands-free option to adjust their RV settings.
• Added security: Connect compatible security cameras and view feeds anytime.
• Fits many spaces: Available in two sizes (7″ and 10″) with options to mount in portrait or landscape mode.
• Installation options: Install professionally as a stand-alone display or as part of an interconnected system throughout the RV. Manufacturers can also add their own logos and branding to the user interface.

Visit our YouTube page to see SERV+ in action.

Available now, the 7″ SERV+ display has a suggested retail price of $599.99 while the 10″ display is $799.99. To learn more, visit garmin.com/RVOEM.

Engineered on the inside for life on the outside, Garmin products have revolutionized the RV experience by providing fully integrated solutions to RV OEMs and their customers. Committed to developing advanced operation, navigation and entertainment technology, Garmin believes every day is an opportunity to innovate and beat yesterday, according to the release.

For more information, visit the Garmin Newsroom, email our media team or follow our blog. 

The post Garmin’s All-in-One SERV+ Offers Smart RV Experience first appeared on RVBusiness - Breaking RV Industry News.

The RV Industry Association (RVIA) is hosting two members-only seminars on Feb. 6 at the Lerner Theatre in Elkhart, Ind.

Decoding the RV Consumer: Exclusive Insights from Go RVing

From 9-11 a.m., Go RVing is hosting a members-only event in Elkhart, IN to take a deep dive into the all-new Go RVing RV Owner Demographic Profile. This in-depth research provides critical data and actionable strategies for RV businesses seeking to thrive in today’s dynamic market.

What You’ll Discover:

• The Changing Face of RVing: Get the latest on demographic trends shaping the industry, including insights into the hearts and minds of first-time and seasoned RVers.
• Drive Engagement & Conversions: Learn how Go RVing is turning data into dynamic campaigns that resonate with diverse audiences across various marketing channels.
• Supercharge Your Success: Walk away with actionable strategies for RV companies to apply this research directly to their businesses, boosting sales and building lasting customer relationships.

Join Go RVing’s Jeremy Greene, Vice President of Marketing and Monika Geraci, Senior Director of Public Relations & Communications, as well as Ipsos Vice President Tim Reimer for an in-depth look at this pivotal research. Don’t miss this opportunity to gain a competitive edge in the evolving RV market!

Click here to register for this seminar.

2025 Winter Workplace Safety Seminar

From 1-4 p.m., RVIA’s Workplace Safety Committee will host the 2025 Winter Workplace Safety Seminar at the Lerner Theatre’s Crystal Ballroom in Elkhart, Ind. This informative seminar is designed for plant leaders, safety professionals, and anyone involved in workplace safety.

Beginning at 1pm, the 3-hour seminar will include:

• Report on the latest federal workplace safety data
• “How To Implement a Tiered-auditing System” Case Study from Lippert and Thor Motor Coach
• “How to Sell Safety” Presentation from Winnebago Industries
• Presentation and Q&A session with INSafe, a division of the Indiana Department of Labor, that works with companies to ensure workplace health and safety.

This event is free to RV Industry Association members.

Click here to register for this seminar.

The post RVIA Plans Demographic Study, Workplace Safety Seminars first appeared on RVBusiness - Breaking RV Industry News.

The National Electrical Code (NEC) is constantly evolving to improve electrical safety. In 2026, a significant update impacting RV campgrounds will take effect: the requirement for Ground Monitoring Interrupters (GMI) on RV pedestals, according to a News & Insights report by the RV Industry Association (RVIA).

What are GMIs?

Think of GMIs as advanced safety guards for your electrical connection. When an RV is plugged in, the GMI checks the pedestal’s grounding connection before allowing power into the RV. If it detects a problem, it cuts off power, preventing potentially dangerous electrical hazards.

Why are GMIs Important?

Damaged or misused shore cords (the cables connecting an RV to the pedestal) and pedestal receptacles can pose serious risks. GMIs add a crucial layer of protection by ensuring a solid grounding connection, minimizing the risk of electrical shocks and equipment damage.

What’s Changing and When?

This requirement, introduced in the 2023 NEC, will be enforced starting in the fall of 2026. This gives campground owners time to prepare and upgrade their electrical systems.

How Can Campgrounds Prepare?

• Partner with a qualified electrician: A thorough assessment of your electrical infrastructure is crucial. This includes transformers, distribution panels, breakers, and pedestals.
• Prioritize regular maintenance: Regular inspections and upkeep are essential for safe and reliable power distribution. Testing connections, GFCIs, and inspecting wiring and equipment should be part of a routine maintenance plan.
• Consider environmental factors: Weather conditions can impact your electrical system. Underground systems offer better protection but require more frequent inspections.
• Plan for increased power demands: Modern RVs have growing power needs. Ensure your system can handle the load while maintaining safety.

By proactively addressing these points, campground owners can ensure a smooth transition, meet the new safety standards, and provide a secure and enjoyable experience for their guests.

Need more information? Read the background and fact sheet below.

Ground Monitoring Interrupter: Impact on RV Campgrounds Background on the National Electrical Code and RV Parks

The National Electrical Code (NEC) is revised and published on a three-year cycle. This means a new edition of the NEC is released every three years, with the most recent changes and updates to electrical safety standards. There is a specific section of the NEC that applies to RVs and RV Parks: Article 551: Recreational Vehicles and Recreational Vehicle Parks.

In the National Electrical Code Publication for 2017 there was a global change in the resulting in RV Pedestal equipment with 30 and/or 50-amp receptacles, required to have GFCI (Ground Fault Circuit Interrupter) protection, along with the 15- and 20-amp receptacles already requiring GFCI’s.

During the code cycle in 2019 a Tentative Interim Amendment was approved to revise and clarify the requirements for the 30- and 50-amp receptacles on the RV pedestal equipment to not require the GFCI protection. These circuits were determined to be feeders, and not just a branch circuit, therefore not requiring GFCI protection. The concern was that the “stacked” GFCI protection required in RV’s along with many appliances, would be enough to result in false tripping of the parks GFCI protection. These would be the GFCI breakers located in the parks distribution system.

Reverse Polarity then evolved into the RV manufacturing portion of the NEC in 2020. This was to continue improvement of safety when using and connecting recreational vehicles to park supplied power. This device was required to be supplied by the RV manufacturers and was checking the polarity of the systems, testing for reversed wiring connections in the RV, or the park pedestal, and possible nearby RVs.

While the 2023 edition was going through revisions, the reverse polarity requirement was removed but replaced with a ground monitor requirement. This came with a delayed enforcement of July 2026. This was largely due in part to important discussions during the committee panel meetings highlighting there wasn’t any existing product in the market that would meet these requirements.

Currently the revision cycle for the 2026 publication of the NEC is nearing completion. The language around the Ground Monitor has continued to change and narrow the focus to a requirement for a Ground Monitoring Interrupter in 2026 of a Type II device. This has not yet been completely reviewed and balloted, therefore changes could still occur between now and publication.

So what is a ‘Ground Monitoring Device’?

A ground monitoring interrupter is a device that will monitor the grounding wire impedance (or ground wire resistance) before allowing power to the vehicle. This device will be testing the electrical supply from the pedestal. It will not allow a connection of the current carrying conductors often referred to as the “hot” and/or “neutral” wires, until a safe grounding connection has been made. These devices are considered personal protection much like ground fault circuit interrupters or GFCIs. If there is incorrect wiring or grounding connection is sensed to be outside expected norms, then no power will be allowed to pass through to the vehicle.

What does a ground monitoring device address?

Concerns with the feeder cord assembly (often referred to as shore cords) connecting the RV to the pedestal at the park is primarily where requirements have come into play. Damage and misuse of cords and connections can lead to electrical hazards.

RVs require the neutral buss bar and ground bar to be unbonded from each other, or floating. There can only be one grounding point in distributed electrical systems. Therefore, when RVs plug into the campground pedestal the bonding of the neutral conductor and ground are performed externally as part of the RV parks grounded system. Individuals utilizing the park campground pedestals for power to their RVs rely on safe and reliable distributed power, which includes the grounding of their electrical systems for safety.

When will the new requirement go into effect?

Often the adoption of the current NFPA standard publication of the national electrical code occurs in May of a calendar year, in this case 2026, and enforcement of the requirement will begin in the Fall of that year, in this case again in 2026.

What can campgrounds do to prepare for these new requirements?

Changes and adapting to future technology and requirements are necessary in maintaining efficient and reliable power supply in campgrounds.

Components within park distributed power include but are not limited to transformers, distribution panels, circuit breakers, pedestals, GFCI outlets, and general outlet and electrical equipment. Park owners can work with electrical contractors to review the needs and maintenance schedules of their property. Regular upkeep and maintenance are necessary to continue to provide safe and functional electrical power distribution.

Having the existing information to provide contractors such as location and number of campsites with electrical power requirements would be helpful. Original design specifications such as the estimated load requirements the park was originally designed for, along with any upgrades/changes made could also be helpful information to have on hand. Proper grounding is crucial in campground electrical distribution to protect the equipment and campers. All equipment should be properly maintained and inspected to ensure a safe and consistent supply of power.

Having a maintenance/inspection plan for potential risk along with a mitigation plan would be a great tool to have in place for all park owners. During maintenance and inspections by electrical contractors they can test connections to ensure stability and integrity of the system. The environmental conditions of parks have effects on the system due to winds, moisture, and extreme temperatures. Other differences in park designs may include underground systems which provide better protection from the environment but would require more regular inspections to prevent malfunctions and identify potential issues before they become a hazard.

During regular maintenance and inspections, it may be recommended to perform load tests, ground fault circuit interrupter testing, visual inspections of connections, damaged wiring, equipment and outlet wear, including power pedestals. This would include testing of proper grounding. It is important to ensure safe operation and distribution of electricity.

The post Campgrounds Bracing for Ground Monitoring Interrupters first appeared on RVBusiness - Breaking RV Industry News.

COLUMBUS, Ind. – Cummins Inc. (NYSE: CMI) today (Feb. 4) reported fourth quarter and full year 2024 results, according to a release.

“Cummins delivered strong operational results in the fourth quarter and achieved record full year revenues, net income, EBITDA and EPS, despite a decline in heavy duty truck demand in North America,” said Jennifer Rumsey, Chair and CEO of Cummins. “In the fourth quarter, we recorded charges related to the reorganization of our Accelera by Cummins segment. The charges were the result of a strategic review to streamline operations and focus investments, as the adoption of certain zero-emissions solutions has slowed in some regions around the world.”

“2024 marked a transformative year for Cummins as we made significant progress in advancing our Destination Zero strategy and delivered record results. I am tremendously proud of our employees for delivering innovative technologies for our customers, strengthening our position in key markets and achieving our financial performance targets,” concluded Rumsey.

Fourth quarter 2024 revenues of $8.4 billion decreased 1% from the same quarter in 2023. Sales in North America were flat while international revenues decreased 3%.

Net income attributable to Cummins in the fourth quarter was $418 million, or $3.02 per diluted share, compared to a net loss of $1.4 billion, or $(10.01) per diluted share, in 2023. The current quarter results include Accelera reorganization actions of $312 million, or $2.14 per diluted share, which were primarily non-cash charges. The fourth quarter of 2023 included the recording of a charge related to the Settlement Agreements of $2.0 billion, or $13.76 per diluted share; costs related to the voluntary retirement and separation programs of $42 million, or $0.22 per diluted share; and costs related to the separation of Atmus of $33 million, or $0.17 per diluted share. The tax rate in the fourth quarter was 32.8% due primarily to non-deductible costs related to the Accelera reorganization actions.

Earnings before interest, taxes, depreciation and amortization (EBITDA) in the fourth quarter were $1.0 billion, or 12.1% of sales, compared to a loss of $878 million, or negative 10.3% of sales, a year ago. EBITDA for the fourth quarter of 2024 and the fourth quarter of 2023 included the costs noted above.

Full year 2024 revenues of $34.1 billion were flat to 2023. Sales in North America increased 1% and international revenues decreased 1% compared to 2023. 2023 included a full year of Atmus Filtration Technologies revenues, whereas 2024 included Atmus until final separation on March 18.

Net income for the full year 2024 was $3.9 billion, or $28.37 per diluted share, compared to $735 million, or $5.15 per diluted share, in 2023. 2024 results included the gain related to the separation of Atmus, net of transaction costs and other expenses, of $1.3 billion, or $9.28 per diluted share; charges related to Accelera reorganization actions of $312 million, or $2.12 per diluted share; and first quarter restructuring expenses of $29 million, or $0.16 per diluted share. Full year 2023 results included costs related to the Settlement Agreements of $2.0 billion, or $13.78 per diluted share; costs related to the separation of Atmus of $100 million, or $0.54 per diluted share; and costs related to the voluntary retirement and separation programs of $42 million, or $0.22 per diluted share. The tax rate in 2024 was 17.0%, primarily due to the non-taxable gain on the separation of Atmus partially offset by non-deductible costs related to the Accelera reorganization actions.

EBITDA in 2024 was $6.3 billion, or 18.6% of sales, compared to $3.0 billion, or 8.9% of sales, a year ago. EBITDA for 2024 and 2023 included the gains and costs noted above.

2025 Outlook:

Based on its current forecast, Cummins projects full year 2025 revenue to be in the range of down 2% to up 3%, and EBITDA to be in the range of 16.2% and 17.2% of sales.

Cummins plans to continue generating strong operating cash flow and returns for shareholders and is committed to our long-term strategic goal of returning 50% of operating cash flow back to shareholders.

“In 2025, we anticipate that demand will be slightly weaker in the North America on-highway truck markets, particularly in the first half of the year, but offset by strength in other key markets. Despite a relatively flat revenue forecast and relative weakness in the key North America truck markets, we expect to improve profitability and cash flow. Cummins remains well-positioned to deliver strong financial performance, invest in future growth and return cash to shareholders,” said Rumsey.

2024 Highlights:

• Cummins increased its common stock cash dividend for the 15^th straight year and returned a total of $969 million to shareholders through dividends.
• Cummins finalized the complete separation of Atmus Filtration Technologies Inc. through a share exchange offer which reduced Cummins’ shares outstanding by approximately 5.6 million shares.
• Cummins introduced the Cummins HELM engine platforms. Applied across Cummins’ legendary B, X10 and X15-series engine portfolios, the HELM platforms provide customers with the option to choose the fuel type – either advanced diesel or alternate fuels like natural gas and hydrogen – that best suits their business needs and offers the power customers expect – while also reducing emissions. In September, Cummins began full production of the X15N natural gas engine at the Jamestown Engine Plant in New York, which celebrated its 50th anniversary in 2024.
• Cummins and Isuzu announced the launch of a new 6.7-liter engine designed for use in Isuzu’s new medium-duty truck lineup available in Japan and other global markets. Cummins also announced plans to launch a battery electric powertrain for Isuzu’s F-series in North America. Availability of the medium-duty truck is expected in 2026 and will include Accelera’s next generation lithium iron phosphate (LFP) battery technology.
• Accelera by Cummins, Daimler Trucks & Buses PACCAR, and EVE Energy completed the formation of their joint venture, Amplify Cell Technologies, to localize battery cell production and the battery supply chain in the United States. This strategic collaboration will advance zero-emissions technology for electric commercial vehicles and industrial applications. Amplify began construction of a 21-gigawatt hour (GWh) factory in Marshall County, Miss., with potential for further expansion as demand grows. The factory is expected to create more than 2,000 U.S. manufacturing jobs and is targeting the start of production in 2027.
• Cummins Power Generation introduced four new generator sets to the award-winning Centum Series, two each powered by Cummins’ QSK50 and QSK78 engines. In response to high market demand, these new models have been engineered specifically for the most critical applications such as data centers, healthcare facilities and wastewater treatment plants. These products build on decades of experience meeting our customers’ needs and deliver a step-change improvement in power density, assured reliability, sustainability and low emissions.
• Cummins received several prestigious honors recognizing our focus on our people and our communities. Of note, we were named industry leader in the Commercial Vehicle and Machinery category for America’s Most JUST Companies list and a 2024 Handshake Early Talent Award winner for our role in shaping the workforce of the future. For the third consecutive year, Morgan Stanley Capital International (MSCI) awarded Cummins a rating of AAA – the highest sustainability rating in the industry. Additionally, we were named a Veteran Friendly Employer by U.S. Veterans Magazine, a Top Company for Women to Work in Transportation, and ranked in the top 100 on Glassdoor’s Best Places to work in 2024.

¹ Generally Accepted Accounting Principles in the U.S.

Fourth quarter 2024 detail (all comparisons to same period in 2023):

Engine Segment

• Sales – $2.7 billion, down 2%
• Segment EBITDA – $367 million, or 13.5% of sales, compared to $353 million, or 12.7% of sales, which included $12 million of costs related to the 2023 voluntary retirement and separation programs.
• Revenues decreased 2% in North America and 3% in international markets due to softened demand in global heavy-duty truck markets and lower North America pickup units.

Components Segment

• Sales – $2.6 billion, down 17%
• Segment EBITDA – $361 million, or 13.7% of sales compared to $406 million, or 12.7% of sales, which included $28 million of costs related to the separation of Atmus and $9 million of costs related to the 2023 voluntary retirement and separation programs.
• Revenues in North America decreased by 12% and international sales decreased by 24% primarily due to the separation of Atmus and lower demand in heavy-duty truck markets.

Distribution Segment

• Sales – $3.1 billion, up 13%
• Segment EBITDA – $400 million, or 13.0% of sales, compared to $269 million, or 9.9% of sales
• Revenues in North America increased 10% and international sales increased by 19% driven by increased demand for power generation products, particularly for data center applications, and pricing actions.

Power Systems Segment

• Sales – $1.7 billion, up 22%
• Segment EBITDA – $314 million, or 18.0% of sales, compared to $182 million, or 12.7% of sales
• Revenues in North America increased 42% and international sales increased by 12% driven primarily by increased power generation demand, particularly for the data center market.

Accelera Segment

• Sales – $100 million, up 23%
• Segment EBITDA loss – $431 million, which includes $312 million of costs related to strategic reorganization actions.
• Revenues increased due to higher eMobility demand. Beyond the expenses associated with the strategic reorganization actions, costs associated with the development of electric powertrains, fuel cells and electrolyzers, as well as products to support battery electric vehicles, are contributing to EBITDA losses.

About Cummins Inc.

Cummins Inc., a global power solutions leader, is comprised of five business segments – Engine, Components, Distribution, Power Systems and Accelera by Cummins – supported by our global manufacturing and extensive service and support network, skilled workforce and vast technological expertise. Cummins is committed to its Destination Zero strategy, which is grounded in the company’s commitment to sustainability and helping its customers successfully navigate the energy transition with its broad portfolio of products. The products range from advanced diesel, natural gas, electric and hybrid powertrains and powertrain-related components including, aftertreatment, turbochargers, fuel systems, valvetrain technologies, controls systems, air handling systems, automated transmissions, axles, drivelines, brakes, suspension systems, electric power generation systems, batteries, electrified power systems, hydrogen production technologies and fuel cell products. Headquartered in Columbus, Indiana (U.S.), since its founding in 1919, Cummins employs approximately 75,500 people committed to powering a more prosperous world through three global corporate responsibility priorities critical to healthy communities: education, environment, and equality of opportunity. Cummins serves its customers online, through a network of company-owned and independent distributor locations, and through thousands of dealer locations worldwide and earned about $735 million on sales of $34.1 billion in 2023. See how Cummins is powering a world that’s always on by accessing news releases and more information at https://www.cummins.com/.

The post Cummins Inc. Reports ‘Strong’ Q4, Full Year 2024 Results first appeared on RVBusiness - Breaking RV Industry News.

Those who monitor LinkedIn may have noticed the recent milestone reached by Lippert Components Inc. (LCI) Senior Vice President of Operations and Customer Support Services Marc Grimes: His 25^th anniversary with the Elkhart, Ind.-based component supplier and as an executive within the RV industry.

Curious about his perspective, RVBusiness spoke with Grimes, who was a leadership trainee in January of 2000 when he first joined Lippert, now a 70-year-old, publicly held, 13,000-employee firm with more than 100 locations in the U.S. and overseas in the RV, marine and other markets.

In his current position, Grimes oversees some manufacturing locations around the country, works with LCI’s dealer relations, OEM support, pricing, product development  and “a little bit of everything.”

And that, from all indications, will remain the status quo for the foreseeable future for Grimes, a father of four who works at the company’s Elkhart headquarters and lives in nearby Nappanee with his family including spouse and fellow Lippert team member Michilah Grimes,

It’s worth noting that Michilah, who’s been with LCI herself for nearly 10 years and currently serves as LCI’s social impact strategist and corporate partnerships, is well known to a lot of industry people because of the central role she’s played in hosting LCI’s numerous charitable events including the annual Boys & Girls Club auction.

Suffice to say that Marc Grimes has seen a lot of changes over the years at Lippert – far more than he was able to summarize in a quick telephone interview.

“Wow. I mean, obviously one of the key takeaways over the years is the fact that we have built relationships with a lot of our manufacturing partners,” Grimes responded. “We’ve cultivated a variety of different product lines. And as we’ve developed those relationships and grown the product lines, it’s just exponentially expanded our influence on the community and just everything that we do.

“It’s been an amazing ride,” he added. “There are always going to be challenges, but there are also incredible opportunities and the people that I’ve met, and the partnerships I’ve formed have been invaluable. I genuinely believe that the strength of our team is rooted in these connections, and it’s rewarding to see how our collective efforts have not only strengthened our company but also enhanced our community.”

That’s saying something after 25 years, isn’t it? “I think so,” Grimes confided. “I’ve raised a family here, and built a career I am proud of, have a wonderful wife, and we’re heavily involved in our communities, the schools and the nonprofits.”

And one of his chief takeaways at this point regarding LCI as a company looking down the road is to continue his long-term working relationship with LCI President & CEO Jason Lippert. “Yes,” noted Grimes, “he’s one of the reasons that I stay at Lippert and why I’ve stayed there as long as I have. His vision and leadership have been instrumental in guiding the company through various challenges. Working alongside him has not only shaped my career, but has reinforced my commitment to the company’s mission.”

“Yes,” Grimes continued, “I think that’s one thing about the RV industry is that it’s a family and that’s one of the things that makes it great. I’ve learned so much from my experiences and from the people around me. It’s not just achieving milestones; it’s about the journey and relationships that have been built along the way. I love seeing the success that everyone’s had and want to do everything I can to support it in the future. And that’s what gets me up every day.”

That’s even more the case in a charitable-minded company like LCI, maintained Grimes. “Business as a force for good is one of the things that, really, over the last decade we’ve tried to perpetuate in the industry — just what can we do to make our communities, our people and our relationships better. And it just travels down the line, people pay it forward. So that’s the exciting part.”

As for his 25^th anniversary, Grimes said he’s been gratified by the response of his fellow workers. “After they posted something on LinkedIn, I was overwhelmed by the number of thank-you messages from team members, both current and former. It meant a lot to me, the relationships that I’ve built, that people I haven’t talked to in 10, 15 years reached out and said thank you for being a part of my journey at Lippert.”

The post Marc Grimes Reflects on 25 Years at Lippert Components first appeared on RVBusiness - Breaking RV Industry News.

In this episode of RVBusiness Capitol Talk, Toby O’Rourke, president of the Kampgrounds of America (KOA), tells Rick Kessler of RVBusiness and Ben Quiggle of Woodall’s Campground Magazine that 2025 should be another good year for her company and the campground industry in general.

The RVBusiness Capitol Talk video series is sponsored by Airxcel Inc.

The post Capitol Talk: KOA’s Toby O’Rourke Sees Good Year Ahead first appeared on RVBusiness - Breaking RV Industry News.