Winnebago Industries, Inc. (NYSE:WGO) Q2 2018 Earnings Conference Call - Final Transcript

Mar 21, 2018 • 10:00 am ET

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Winnebago Industries, Inc. (NYSE:WGO) Q2 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the Winnebago Second Quarter 2018 Earnings Conference Call.

[Operator Instructions]

As a reminder, this conference call is being recorded. I would now like to turn the conference over to Steve Stuber. Sir, you may begin.

Executive
Steve Stuber

Thank you and good morning everyone for joining us for Winnebago Industries' conference call to review the Company's results for the fiscal 2018 second quarter, which ended February 24, 2018. I am joined on the call today by Michael Happe, President and Chief Executive Officer; and Bryan Hughes, Vice President and Chief Financial Officer. This call is being broadcast live on our website at investor.wgo.net, and a replay of the call will be available on our website later today. A news release with our second quarter earnings results was issued and posted to our website earlier this morning.

Before we start, I'd like to 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 I encourage you to read.

With that said, I would now like to turn the call over to our President and CEO, Michael Happe. Mike?

Executive
Michael Happe

Thank you, Steve, and good morning everyone. We hope you are all well. We appreciate your time this morning as we review Winnebago Industries' fiscal year 2018 second quarter results. We have much ground to cover today as I'm sure you would agree. And as usually the case, I will first provide a high level summary of the quarterly results and then be followed by our Chief Financial Officer, Bryan Hughes, who will go into much more detail regarding our financial performance. I will return with closing comments outlining our progress, on key strategy initiatives, and offer a few thoughts about other relevant topics. And undoubtedly, you'll have a few questions for us that we can answer in our Q&A session.

Our second quarter performance continues to reflect the journey we are on here at Winnebago Industries to build a more robust, balanced, increasingly profitable overall business model. Much has changed in recent quarters at Winnebago Industries, and our results this period are both a reflection of those accomplishments, but they also highlight that we continue to have unfinished work to do. This will be a net positive journey we believe. And we are pleased with our consolidated results in the second quarter which are record numbers on both the top line and in profit generator. Overall strong sales growth and meaningful margin improvement for the Company were hallmarks of this quarter. Certainly highlighted and generated by our impressive growth in the Towable segment. Again another reflection of what's changed in the last two years. Consolidated second