Winnebago 10-K: FY26 Revenue $2.70B, EPS $1.21; Chris-Craft Impairment Cushion Under 10%
WGO sits 17% above its 52-week low of $21.95 on elevated volume (3.4× avg).
Summary
Winnebago's fiscal 2026 10-K shows revenue down 3.4% to $2.70B but EPS up to $1.21, a swing to profit in motorhomes, a clean balance sheet with no near-term maturities, and a Chris-Craft trade name now sitting within 10% of its carrying value.
Key Events · Earnings and Guidance · WGO
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Fiscal 2026 Results: Revenue Down, Profit Up
Net revenues fell 3.4% to $2,703.9M while net income rose to $34.5M and diluted EPS to $1.21 from $0.91, aided by $23.3M lower SG&A and $5.1M lower net interest expense.
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Motorhome Swing Offsets Towable Weakness
Motorhome RV revenue rose 8.4% to $1,257.5M and operating income swung to $33.2M from a $7.3M loss; Towable RV revenue fell 13.9% to $1,050.8M with operating income down 34.7% to $47.5M on 13.4% fewer units.
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Chris-Craft Trade Name Cushion Under 10%
Fair value of the Chris-Craft trade name exceeded its $29.3M carrying value by less than 10%; a 50bps royalty-rate cut, 10% sales decline or 100bps higher discount rate would bring fair value to carrying value and risk a future impairment.
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Debt Maturities Pushed to 2028 and 2030
$450.0M gross debt: $100.0M 6.25% Senior Secured Notes due 2028 after a February 2026 $100M redemption, and $350.0M 3.25% 2030 Convertible Notes (conversion price $87.93). No ABL borrowings; all covenants met.
Analysis · WGO · Manufacturing
The annual report confirms a year of shrinking top line but improving profit: revenue fell 3.4% to $2.70B while net income rose to $34.5M and diluted EPS to $1.21 from $0.91, helped by $23.3M lower SG&A and a $5.1M drop in interest expense. The mix is uneven — Towable RV operating income fell 34.7% to $47.5M on a 13.4% unit decline, while Motorhome RV swung from a $7.3M operating loss to $33.2M of income on higher volume and lower discounts. The balance sheet is the reassuring part: $181.4M cash, no ABL borrowings, $450M of gross debt with nothing due until the $100M notes mature in 2028, and all covenants met. The item worth flagging is the Chris-Craft trade name, whose fair value now exceeds its $29.3M carrying value by less than 10% — a 50bps royalty-rate cut, 10% sales decline or 100bps higher discount rate would erase the cushion and force a write-down. With $180M of buyback authorization unused in Fiscal 2026 and capex guided to $35-45M for Fiscal 2027, capital return is discretionary rather than committed.
How filings like this one have moved
In the 30 days to Oct 22, 2026, 29.4% of the 1563 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WGO was trading at $25.61 on NYSE in the Manufacturing sector, with a market capitalization of approximately $724.8M. The 52-week trading range was $21.95 to $50.16. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.