Fleetwood Enterprises Inc. now is basically tied for the retail market share leadership in gas-engine Class A motorhomes with Winnebago Industries Inc., Fleetwood President and CEO Ed Caudill said during a conference call with investment analysts on Thursday (July 8).
The conference call can be heard over the Internet on Fleetwood’s website, www.fleetwood.com, or on www.streetevents.com and www.fulldisclosure.com.
Caudill said during the conference call that although the two RV manufacturers typically go back and forth each month as leaders in gas Class A’s, Fleetwood was ahead in that category during the entire first quarter of this year. It was the first time in recent memory that it led during an entire quarter.
Caudill noted that Fleetwood has climbed to within about 4 percentage points of Monaco Coach Corp., the retail market share leader in diesel engine Class A’s.
Caudill said Monaco’s market share “fell to about 25% and we’re at around 21% in diesel motorhomes.
“Our momentum is strong and we believe our recent alliance with Caterpillar to put Cat engines in all of our diesel lineup will add to that momentum,” Caudill said.
The reason for last Thursday’s conference call was Fleetwood’s earnings for the quarter and fiscal year that ended on April 25. The company reported a net loss of $22.3 million for the year, in part, because it took a $15.9 million noncash charge during the period to reflect the change in value of the hybrid debt-equity securities it sold to financial institutions a few years ago to raise cash.
Fleetwood’s manufactured housing division reported a $28.8 million operating loss for fiscal year 2004, mainly because of continuing losses at Fleetwood’s manufactured-home retail dealerships and the company’s travel-trailer, fifth-wheel operation was only “marginally” profitable during the period.
Caudill described Fleetwood’s motorhome division as “ our MVP (most valuable player). The division continues to have consistent growth in revenues, market share and operating profits,” he said.