Consumer DemandConsumer demand for RVs and boats is slowing, causing dealers to order less to control expensive inventory stocking costs.
Financial Performance3Q24 revenue is expected to be down about -5% year-over-year, with operating margin in the mid-single-digit range, and comparable to 1Q24's 6.0%.
Operational EfficiencyManagement attributed the margin contraction to lower volumes, production inefficiencies due to OEM downtime, and a smaller contribution from its higher-margin aftermarket business.