Fleetwood’s RV operations were a major contributor to the $205 million loss the company reported today (March 1).
Fleetwood’s RV operations contributed $29.7 million of the company’s $56.1 million operating loss.
The remainder of the loss mostly came from a recalculation of Fleetwood’s balance sheet to reflect diminished values.
The company’s manufactured housing retail stores added another $25.3 million in operating losses.
Manufactured home building yielded an $8 million operating profit for Fleetwood during the third quarter of its fiscal year 2001, which ended Jan. 28.
In comparison, Fleetwood’s RV operations posted a $20.4 million operating profit during the third quarter of its fiscal year 2000.
After the first nine months of Fleetwood’s fiscal year 2001, its RV operations are $39.7 million in the red. During the first nine months of Fleetwood’s fiscal 2000, its RV operations earned $80.4 million from operations.
A sharp decline in RV wholesale deliveries helps explain Fleetwood’s financial losses in RVs.
The number of motorhomes Fleetwood sold to its dealers declined 50% during the November-through-January period to 1,751 units. During the first nine months of its fiscal year 2001, Fleetwood’s motorhome shipments were down 49% to 6,117 units.
Fleetwood’s travel trailer and fifth-wheel shipments also declined 37% during the three months ended Jan. 28 to 5,914 units. During the first nine months of its fiscal 2001, Fleetwood’s travel trailer and fifth-wheel deliveries were down 19% to 25,148 units.
Fleetwood’s folding camper shipments also declined 7% during its third fiscal quarter to 4,509 units. During the first nine months of its fiscal 2001, Fleetwood’s folding camper deliveries declined 11% to 14,584 units.