Popular RV and boat maker Winnebago Industries has reported a $4.37 billion backlog as consumers continue to demand recreational outdoor vehicles, the company said in its 2022 second-quarter earnings report on March 23.
Winnebago has seen “record” orders amid COVID-19 with the help of millennial and Gen-X buyers. And so far, this success has yet to taper off. The company — which oversees brands like its eponymous RV business, a luxury motorhome brand, and two boat makers — saw $1.2 billion in revenue in the second quarter of 2022, a nearly 29% increase compared to the same time in 2021.
Revenues from Winnebago’s towable RV, motorhome, and marine segments were all up this quarter compared to the same time last year. But if you’re looking to buy a Winnebago RV as soon as possible, you may have to be patient. The company’s order backlog has grown as customer demand for its outdoor products continues to rise while supply chain constraints continue to hamper production, Mike Happe, the president and CEO of Winnebago Industries, said during the earnings call.
Winnebago Industries’ towable RV backlog is now sitting at $1.87 billion while its motorhomes are back $2.21 billion and its marine products almost $278,000. The backlog of towable RVs has been recovering the fastest, but the same can’t be said for Winnebago’s motorized RVs or boats, Happe said, predicting that supply chain limitations will continue through 2022.
“Keeping dealer inventories in all of our segments at acceptable levels throughout the fiscal 2022 year for our dealer partners is a key focus area for all of our teams,” Happe said.
Winnebago’s growing backlog follows the same trend as other major RV makers. Since the start of the COVID-19 pandemic, road travel vehicle makers have seen skyrocketing orders. And in December 2021, Thor Industries reported a $18.07 billion order backlog and noted that its dealers may not be fully restocked until 2023.