Motorhome sales drag down Winnebago profits

RV giant Winnebago reported some financial news for its investors earlier this week. It’s a 1300+ word statement, written in corporate-financial speak—perfect for analysts, but impenetrable for most RV owners or casual readers. We’ve translated it for us common folks. Essentially, most Winnie motorhomes are in doo-doo, while towables are looking OK.

Winnebago financials translated—profits down, motorhomes in the soup

First, here are the high points of the report of interest to RVers.

Winnebago gave an early look at its financial results for the quarter that ended May 31, 2025. They’re expecting to bring in about $775 million in revenue, with profits per share between $0.55 and $0.65.

That profit range is lower than many investors were expecting, and Winnebago knows it. They’re warning that things have slowed down—especially in the last two months of the quarter.

What’s going wrong?

Economic worries: In March, RV sales were looking decent. But then consumer confidence dropped, and dealers started being more cautious about placing new orders.

Inventory control: To avoid having too many unsold RVs sitting around, Winnebago cut back on production and kept inventory levels low.

Biggest hit—motorhomes: The hardest-hit part of the business is Winnebago-branded motorhomes—meaning the big Class A and Class C drivable RVs that carry the company’s name.

What does it mean for Winnebago?

Fewer sales ahead: They expect motorhome revenue to stay low for the rest of the year—more than previously anticipated.

Fix-it mode: They’re making moves to deal with this slowdown—cutting back production, reducing staff, clearing out unsold inventory, and improving the products so they offer better value going forward.

Bigger picture: While motorhomes are struggling, other parts of the company are holding up better:

• Grand Design towables (travel trailers) are gaining market share.
• Winnebago towables (like the new Thrive model) are being revamped.
• Newmar (the luxury) is doing well, especially in diesel Class A motorhomes and luxury Super C models.

Bottom line for the RV world

Motorhome slowdown: RVers might see fewer new Winnebago motorhomes coming out in the short term as the company reins in production.

Dealer impact: Dealers may have tighter inventory and be more cautious about restocking.

Product improvement ahead: Winnebago says this slowdown gives them time to make their motorhomes better and more competitive—possibly meaning improved designs or pricing down the line. But don’t bet the farm on it.

Shopping for a Winnebago motorhome?

For everyday RVers, especially those in the market for a motorhome, this update sends a few signals:

• Expect fewer discounts in the near term, as dealers are ordering more cautiously and keeping inventories tighter.
• Motorhome availability may be limited, especially in new models or specific trim levels.
• Wait-and-see buyers could benefit later if Winnebago’s product revamp results in stronger value or design improvements.

Winnebago financials translated: Think “News Read Real Slow”

Have you hung on so far? Great! If you’d like to read the full release, grab a cup of Joe, and imitate Seattle radio personality Dave Ross. His segment, “News Read Real Slow,” was a humorous feature on KIRO Radio, designed to satirize the often fast-paced and complex nature of news reporting. Dave was known for his comedic approach to delivering news in an exaggeratedly slow and deliberate manner, highlighting the absurdities and intricacies of certain news stories. Click here to hear Ross poke a little fun at Exxon.

We think you’ll find Winnebago’s release perfect for this approach. You can read the Winnie post here.

MORE ABOUT WINNEBAGO

• Lawsuit accuses Winnebago and Grand Design of defective frames, misleading marketing

• Winnebago recalls motorhomes: Propane tanks may fall off

• RV review: Winnebago Revel Sport 44C—It’s what customers asked for

• Winnebago recalls trailers for stovetop fire danger

• Winnebago recall prompted by workers’ failure to follow procedures

RVT1212