Recreational vehicle manufacturing giant Winnebago isn’t making much progress on decreasing its massive backlog of RV orders.
In October 2021, Winnebago officials announced that they had $4 billion in backlog orders as supply chain issues coupled with a massive number of new orders.
The company announced in its recent 2022 second-quarter earnings report that its backlog of orders has now grown to $4.37 billion as the demand for RVs refuses to wane.
Revenues for all segments of Winnebago’s business (towable RVs, motorhomes and boats) are all up. The company saw $1.2 billion in revenue for the second quarter of 2022 alone – a nearly 29% increase compared to the same period last year.
Winnebago President and CEO Mike Happe pointed to a still-growing customer demand for its product along with the supply chain woes for the increase in the order backlog. He said the backlog breaks down to $1.87 billion for towable RVs, $2.21 billion for Winnebago motorhomes, and $278,000 for its marine products.
Happe said he expects the backlog to continue to plague RV production as the supply chain woes stretch through the rest of 2022.
Winnebago isn’t alone. Thor Industries reported an $18.07 billion order backlog when it reported earlier that its dealer network may not be fully restocked until the end of 2023.