WGO - Winnebago Industries Inc. (WGO) Q3 2024 Earnings Call Transcript

2024-06-20 14:22:09 ET

Winnebago Industries, Inc. (WGO)

Q3 2024 Earnings Conference Call

June 20, 2024 10:00 AM ET

Company Participants

Ray Posadas - VP of IR & Market Intelligence

Michael Happe - President & CEO

Bryan Hughes - SVP & CFO

Conference Call Participants

Tristan Thomas-Martin - BMO Capital markets

James Hardiman - Citi

Bret Jordan - Jefferies

Michael Swartz - Truist Securities

Noah Zatzkin - KeyBanc Capital Markets

Craig Kennison - Baird

Scott Stember - Roth-MKM

Joe Altobello - Raymond James

David Whiston - Morningstar

Presentation

Operator

Good day, and thank you for standing by. Welcome to the Q3 Fiscal 2024 Winnebago Industries Financial Results Conference Call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker today, Ray Posadas, Vice President, Investor Relations and Market Intelligence.

Ray Posadas

Thank you, Josh. Good morning, everyone, and thank you for joining us to discuss our fiscal 2024 third quarter earnings results. This call is being broadcast live on our website at investor.wgo.net, and the replay of the call will be available on our website later today. The news release with our third quarter results was issued and posted to our website earlier this morning. Please note that the earnings slide deck that follows along with our prepared remarks is also available on the Investor Relations section of our website under Quarterly Results.

Turning to Slide 2. Let me remind you that certain statements made during today's conference call regarding Winnebago Industries and its operations may be considered forward-looking statements under securities laws. The company cautions you that forward-looking statements involve a number of risks and are inherently uncertain and a number of factors, many of which are beyond the company's control, could cause actual results to differ materially from these statements.

These factors are identified in our SEC filings, which we encourage you to read. In addition, on today's call, management will refer to GAAP and non-GAAP financial measures and the reconciliation of the non-GAAP measures to the comparable GAAP measures are available in our earnings press release.

Please turn to Slide 3. Joining me on today's call are Michael Happe, the President and Chief Executive Officer of Winnebago Industries; and Bryan Hughes, Senior Vice President and Chief Financial Officer. Mike will begin with an overview of our Q3 performance and then Bryan will discuss our financial results at a strategic level. Mike will conclude our prepared remarks with the business outlook and management will be happy to take your questions.

With that, please turn to Slide 4, as I hand the call over to Mike.

Michael Happe

Thanks, Ray. Good morning, everyone, and thanks for joining us to discuss our third quarter fiscal '24 financial results. In the eight weeks since our Q2 earnings call, RV Industry retail demand has remained both inconsistent and sluggish, with limited evidence that economic conditions are improving for outdoor recreation consumers as we move into the fourth quarter of our fiscal year. While this environment necessitates near-term caution and discipline, the secular future growth of outdoor recreation engagement by consumers is undoubtedly a key driver for the health of our business long-term....

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