Winnebago Industries, Inc. (NYSE:WGO) Q3 2019 Earnings Conference Call - Final Transcript

Jun 19, 2019 • 10:00 am ET


Winnebago Industries, Inc. (NYSE:WGO) Q3 2019 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Winnebago Third Quarter 2019 Earnings Conference Call. At this time all participants are in a listen-only-mode. Later, we will conduct a question-and-answer session and instructions will follow at that time.

(Operator Instructions) As a reminder this conference call is being recorded.

I would now like to introduce your host for today's conference, Mr. Steve Stuber, Director of Financial Planning and Analysis and Investor Relations. Sir, you may begin.

Steve Stuber

Good morning, everyone, and thank you for joining us today to discuss our third quarter earnings results. I'm 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 and a 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.

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

Michael J. Happe

Thank you, Steve, and good morning to those of you listening in on our call. We sincerely appreciate your interest in Winnebago Industries. I would like to begin this morning with an overview of our fiscal year 2019 third quarter results and some important context as to the drivers behind those outcomes. I will then turn the call over to our Chief Financial Officer, Bryan Hughes, who will provide more detail on the related financial numbers. We will then offer some closing comments, before concluding the call with some Q&A from select participants.

Our third quarter performance, specifically in terms of profitability and retail share reflects our continued progress towards building a stronger, more diversified outdoor lifestyle company. Beginning in early 2016, we set out on a journey that progresses still today, a concurrent mission to develop a more robust full line recreational vehicle business using some of the best brands in the North American industry, and to initiate or acquire new revenue streams in other adjacent outdoor market spaces that result in an increasingly more balanced portfolio.

As we've mentioned repeatedly, we are committed to becoming a more profitable and efficiently run organization; consistently gaining share in the industries we serve; pursuing smart, new growth opportunities that strengthen our brands and lengthens our runway for future success. By staying focused on a truly distinctive foundation of quality, innovation and service in all we do, we have made significant