Winnebago Industries has joined the growing list of RV manufacturers reporting huge backlogs in unfulfilled orders.
A few weeks ago Thor Industries, one of the world’s largest RV manufacturers, reported an order backlog of more than $14 billion. Thor Industries CEO Bob Martin said Thor was essentially “sold out” for the next year to year and a half.
This week, Winnebago Industries issued its fiscal third quarter earnings report, which stated order backlogs of $1.52 billion in towable products and $2.18 billion in its motorized division. The towable backlog is 540% higher than in fiscal third quarter of 2019, and the motorized backlog is 1,095% higher than during the same period in 2019.
“We remain focused on working with our suppliers to sustain strong levels of production and with our dealer network to replenish their inventories in the face of record backlog,” said Winnebago President and CEO Mike Happe.
Winnebago revenues in the third fiscal quarter totaled $960.7 million, with profits of $71.3 million. That’s an increase in profits of 3.2% from results in the second fiscal quarter of 2021. The revenue results were up nearly 82% from the third quarter of 2019.
By segment, towable revenues grew by 60.2% driven by strong consumer demand for the Grand Design and Winnebago lines. Motorhome revenues rose 140.7% over 2019.
Reports from RV dealer lots are mixed. Many RV dealers are reporting shortages in available lot inventory. Potential buyers are often being told they will have to order their new recreational vehicle and wait for it to be delivered from the factory.