Q3 26 EPS
$0.66
MISS 14.89%
Est. $0.78
Q3 26 Revenue
$698.7M
MISS 7.84%
Est. $758.2M
vs S&P Since Q3 26
+3.0%
BEATING MARKET
WGO +5.3% vs S&P +2.4%
Market Reaction
Did WGO Beat Earnings? Q3 2026 Results
Winnebago Industries delivered a disappointing fiscal third quarter, missing Wall Street estimates on both the top and bottom lines as a bruising retail environment continued to weigh on results. The RV maker posted adjusted EPS of $0.66, falling sho… Read more Winnebago Industries delivered a disappointing fiscal third quarter, missing Wall Street estimates on both the top and bottom lines as a bruising retail environment continued to weigh on results. The RV maker posted adjusted EPS of $0.66, falling short of the $0.78 consensus by 14.89%, while revenue slid 9.9% year over year to $698.70 million, roughly $59.48 million below expectations, dragged lower primarily by steep volume declines in Towable RVs, where revenues collapsed 26.1%. The one bright spot was the Motorhome RV segment, which grew revenues 10.1% to $320.70 million and swung to an operating profit from a year-ago loss, offering a measure of offset against the broader weakness. Analysts had been steadily trimming estimates heading into the print, and the results validated those concerns. Looking ahead, Winnebago cut its full-year fiscal 2026 guidance, now projecting revenues of $2.65 billion to $2.75 billion and adjusted EPS of $1.65 to $2.00, with management flagging fuel costs, weak consumer confidence, and cautious dealer ordering as persistent near-term headwinds.
Key Takeaways
- • Motorhome RV segment growth driven by Grand Design Motorized and Newmar execution
- • Gross margin stability at 13.6% despite volume headwinds through pricing discipline and product mix
- • SG&A cost reduction initiatives drove 5.4% decline in selling, general and administrative expenses
- • Barletta reached 9.3% trailing twelve-month share of U.S. aluminum pontoon market
- • Operating cash flow improved by $78.7 million year over year
WGO Forward Guidance & Outlook
For calendar year 2026, Winnebago expects North American RV wholesale shipments in the range of 290,000 to 310,000 units. The company updated fiscal 2026 guidance downward: consolidated net revenues of $2.65 billion to $2.75 billion; reported EPS of $1.05 to $1.40 (from prior $1.50 to $2.20); and adjusted EPS of $1.65 to $2.00 (from prior $2.10 to $2.80). The outlook accounts for current trade policy impacts, competitive dynamics, shifts in consumer preferences, and macroeconomic factors. Management expects demand conditions to remain challenged in the near term with continued variability across segments, while operational and capacity initiatives are expected to begin benefiting performance in fiscal 2027.
WGO YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
WGO Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our teams continue to execute in a retail environment that remained challenging through the third quarter. Industry retail demand was pressured by broader macro factors, including elevated fuel costs, geopolitical uncertainty, and weak consumer confidence which continued to drive cautious dealer ordering and tighter inventory management across the channel. In response, we stayed disciplined, aligning production closely with retail while continuing to advance our key product, operational and cost initiatives.”
— Michael Happe, Q3 2026 Earnings Press Release
WGO Earnings Trends
WGO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
WGO EPS Trend
Earnings per share: estimate vs actual
WGO Revenue Trend
Quarterly revenue: estimate vs actual
WGO Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 MISS | $0.78 | $0.66 | -14.89% | $698.7M | -7.84% |
| Q2 26 BEAT | $0.24 | $0.27 | +13.07% | $657.4M | +4.82% |
| Q1 26 BEAT | $0.14 | $0.38 | +177.37% | $702.7M | +11.26% |
| Q4 25 MISS FY | $0.53 | $0.49 | -7.88% | $777.3M | +7.01% |
| FY Full Year | $1.49 | $0.91 | -39.00% | $2.80B | +1.89% |
| Q3 25 BEAT | $0.79 | $0.81 | +2.22% | $775.1M | +0.04% |
| Q2 25 BEAT | $0.16 | $0.19 | +19.20% | $620.2M | +0.57% |