Winnebago stock up premarket after earnings blow past estimates


Winnebago Industries Inc. stock WGO, -0.75% rose 2.4% in premarket trade Friday, after the residential-vehicle maker fiscal first-quarter earnings fell from the year-earlier period, but were comfortably ahead of consensus estimates. Eden Prairie, Minn.-based Winnebago posted net profit of $60.2 million, or $1.73 a share, for the quarter to Nov. 26, down from $99.6 million, or $2.90 a share, in the year-earlier period. Adjusted per-share earnings came to $2.07, well ahead of the $1.82 FactSet consensus. Revenue fell to $952.2 million from $1.2 billion a year ago, but also beat the FactSet consensus of $852 million. “Growth in our Motorhome and Marine segments helped to mitigate challenging market conditions in our Towables business, demonstrating the ongoing benefits of a more balanced array of outdoor recreation businesses,” Chief Executive Michael Happe said in a statement. The stock has fallen 26% in the year to date, while the S&P 500 SPX, -1.11% has fallen 18%.

This article was originally published by Read the original article here.

Previous articleThe Moneyist: ‘I don’t just want to survive — I want to thrive’: I’m 29, work part-time, and left a 15-year abusive relationship. How do I get back on my feet financially?
Next article: Office-property woes are driving REIT carnage as 2022 shapes up to be second-worst year on record


Please enter your comment!
Please enter your name here