MIDDLEBURY — During what could be described as a trying year for the RV industry, Winnebago announced its best-ever fourth quarter and full fiscal year results in terms of revenue, thanks in large part to the company’s plants in Middlebury.
And the company says it plans to expand in Middlebury in 2019.
Winnebago, which produces its towable RVs in Middlebury at Winnebago of Indiana and Grand Design RV, announced Wednesday it has reached $2 billion in revenue in a fiscal year for the first time ever. That is an increase of more than 30 percent from last year’s revenue of $1.5 billion. The fourth-quarter revenue was $536.2 million, an increase of 18 percent from last year.
Despite the positive result, University of Michigan economist Richard Curtin said it’s been a year of ups and downs for the RV industry.
“They do face headwinds with tariffs and other costs rising, that’s for sure,” he said.
President and CEO Michael Happe said Winnebago is moving along well as it transforms into a “premier, outdoor lifestyle company.”
“Fiscal 2018 was a tremendous step forward for Winnebago Industries in all aspects,” Happe said.
As part of its transition, he said, Winnebago entered the marine market by acquiring the boat manufacturing business Chris-Craft during the fourth quarter of the 2018 fiscal year.