Categories AlphaGraphs, Consumer, Earnings

Winnebago’s shares jump 15% after Q1 results beat expectations

Winnebago Industries Inc.’s (WGO) stock soared over 15% in premarket hours on Wednesday after the company topped analysts’ expectations on both revenue and earnings for the first quarter of 2019.

Revenues rose 9.7% to $493.6 million from the same period last year, helped by strong growth in the Towable segment. Net income grew 23.4% to $22.2 million while diluted EPS improved 22.8% to $0.70 from the year-ago period.

Winnebago first quarter 2019 segment units delivered and backlog

Winnebago had a strong start to fiscal year 2019, helped by momentum in the North American RV business and the positive integration of the Chris-Craft business into its portfolio. The company saw sales and retail market share growth on the RV side.

Revenues in the Motorhome segment fell 3.6% year-over-year to $181.3 million. Backlog decreased 23.6%, in dollars, from last year, reflecting rental unit and new product order timing as well as a challenging late fall shipment environment.

Revenues for the Towable segment grew 12.8% to $292.8 million versus last year, driven by strong organic unit growth across the Grand Design RV branded line and pricing. Backlog levels fell 3.9%, in dollars, due to a rebalance from high backlog levels in Q1 2018 and utilizing additional capacity added during calendar 2018 as well as a challenging late fall shipment environment.

Last week, the company declared a quarterly cash dividend of $0.11 per common share, payable on January 23, 2019 to shareholders of record on January 9, 2019. The annualized dividend rate of $0.44 per share represents an increase of 10% over the 2018 dividend.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

ISRG Earnings: Intuitive Surgical Q2 profit jumps on strong revenue growth

Medical device company Intuitive Surgical, Inc. (NASDAQ: ISRG) announced operating results for the second quarter of 2024, reporting higher revenues and adjusted profit. Second-quarter net profit, excluding one-off items, climbed

Infographic: Halliburton (HAL) reports strong earnings growth for Q2 2024

Energy giant Halliburton Company (NYSE: HAL) Friday announced financial results for the second quarter of 2024, reporting a double-digit increase in net profit. Second-quarter revenue edged up 1% annually to

AXP Earnings: Key quarterly highlights from American Express’ Q2 2024 financial results

American Express Company (NYSE: AXP) reported its second quarter 2024 earnings results today. Consolidated total revenues, net of interest expense, were $16.3 billion, up 8% from a year ago, driven

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top