— Winnebago Industries Inc. (NYSE: WGO) reported its first-quarter 2020 earnings of $0.44 per share and adjusted earnings of $0.73 per share. This is compared to the analysts’ expectations of $0.57 per share.
— Revenues jumped by 19% to $588.5 million versus $538.89 million expected.
— Excluding the recently acquired Newmar business, revenue increased by 12% on an organic basis to $552.8 million driven by strong growth in the Towable segment and modest growth in the Motorhome business.
— Revenues for the Towable segment grew 17% to $341.3 million, riding on strong unit growth in the Grand Design RV product line.
— Revenues from the Motorhome segment jumped by 25% to $225.9 million, primarily driven by strength in the Class B line-up and the addition of Newmar revenues. Excluding Newmar, segment revenues grew 5% over the prior-year period.
— On December 18, the company’s board of directors approved a quarterly cash dividend of $0.11 per share, payable on January 29, 2020, to common stockholders of record on January 15, 2020.
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