Fleetwood - Spring selling season "softer than expected"- 4th quarter fiscal 2007  results
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Spring selling season "softer than expected"
Reducing travel trailer manufacturing capacity
4th quarter fiscal 2007
preliminary results

Fleetwood announced on May 3, 2007, preliminary sales for its fourth quarter and fiscal year ended April 29, 2007

You can read the full press release here, but the following are some key aspects, particularly about their RV business:

  • Sales for the 2007 fiscal fourth quarter were approximately $505 million, down 16 percent from $603 million last year
  • On a segment basis, quarterly sales for the RV Group declined 12 percent to $379 million
  • The 12 percent decline in the fourth quarter recreational vehicle sales reflects difficult market conditions that particularly impacted both travel trailers and folding trailers. Travel trailer revenues fell 49 percent to $81 million, or by 35 percent excluding last year's FEMA sales of $33 million. Folding trailer revenues were down by 13 percent to $20 million. Backlogs for both towable divisions continue to be down significantly from last year
  • Motor home revenues increased by 12 percent to $278 million and backlogs for this division are currently 35 percent higher than at this time last year
  • "The beginning of the spring selling season in the RV industry has been softer than we had expected," said Elden Smith, Fleetwood's president and chief executive officer
  • "We have taken additional steps to reduce our travel trailer manufacturing capacity" - see details here
  • "We continue to work toward consistent profitability, although the headwinds in both of our industries during the past two years have caused some delays in realizing our goals. While the first quarter will still be impacted by some of these factors, particularly in the travel trailer division, we expect the Company to report year-over-year improvement in revenues and operating results."

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Readers comments:

HappyFleetwoodOwner :   I can only speak of my trailer. I am a proud owner of a Fleetwood Wilderness Weekender. 180ck , Bult in Linsy Ontario. I am empressed with th fit & finish of my trailer, I got it at the 2006 spring trailer show in Toronto. (A show specal) And i wasn't even looking for one!.... The price got me. I have had it for only 1 year and love it. Even got my wife into trailering because of it. If Fleetwood could build more like mine & sell it at the price i got it for. (or even a bit more) I bet sales would go up. The linsy plant could buld these. I live in toronto and i know that the people of Linsy always get the dirty end of the stick when it comes to jobs. If Fleetwood could get more people into a enco trailer like mine i think sales would in fact go up. the Linsy plant could buld these. Or thay could make parts to ship to the other plants. When i go camping people always ask me about my 180ck Wilderness thay like it because of its size and they're able to tow it with a 1/2 ton truck. I know for a fact that I have sold at least 3 Fleetwood trailers, (and im not even a trailer salesman) just happy to make new frends. a Happy but sadend Fleetwood owner. P.S. The Gas prices also "DON'T" help. $1.07 a liter here in Ontario. Liter is a Lot smaller than a gallon.

Ken :   I think their drop in towable sales is partially due to the lack of a high quality 5th wheel. If their Triumph and Pride were supposed to be the replacements for the Avion, they evidently were a poor substitute...since they are also gone! Maybe it's time to bring back the Avion!!

 

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