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

Infographic: Nvidia (NVDA) Q4 revenue up 61%; earnings beat

Nvidia Corporation (NASDAQ: NVDA) Wednesday said its fourth-quarter revenues and profit increased in double-digits amid elevated demand. The results also topped the Street view, driving the stock higher during the

Nutanix (NTNX) Earnings: 2Q21 Key Numbers

Nutanix (NASDAQ: NTNX) reported second quarter 2021 earnings results today. Total revenue remained flat at $346.4 million compared to the same period a year ago. GAAP net loss was $287.3

Macy’s (M) expects digital channels to generate approx. $10 billion in sales by 2023

Shares of Macy’s Inc. (NYSE: M) were down 2.7% in morning trade on Wednesday. The stock has gained 37% since the beginning of the year. A day ago, the retailer

Add Comment
Viewing Highlight