Shares of the recreational vehicle manufacturer Winnebago (WGO) surged more than 10% in the pre-market trading after the company beat analysts’ estimate during Q3 2018. The upbeat results were mainly due to the accelerated growth in the company’s Towable segment.
Earnings surged 67% to $1.02 per share, surpassing analysts’ estimate of $0.91 a share. Revenue swelled 18% year-over-year to $562.3 million, topping analysts’ expectation of $541 million.
Winnebago surged more than 10% in the pre-market trading after the company beat analysts’ estimate during Q3 2018.
Winnebago is working aggressively to diversify its portfolio. During early June, the company acquired boat maker Chris-Craft. This provides the company a new revenue platform in the marine market.
The Towable segment generated revenues of $313 million, up 33.4% from the previous year, driven by strong organic growth across the Grand Design RV and Winnebago-branded product lines. However, Motorized segment revenues just increased 3% to $249.2 million as the company is still struggling to cope with rising costs. Winnebago stated that it is working to mitigate the challenges caused by inflation and stabilize its Motorized segment.
On May 23, 2018, the Company’s board approved a quarterly cash dividend of $0.10 per share payable on July 5, 2018, to common stockholders of record on June 20, 2018. So far in this year, Winnebago stock has dropped 27%.
Most Popular
Earnings Preview: Home Depot’s Q3 report likely to reflect weak consumer demand
The US housing industry has been mostly resilient to headwinds like economic uncertainties so far this year. However, housing activity cooled in recent months as high mortgage rates and inflation
Take-Two Interactive (TTWO) will report Q2 2025 earnings this week, a few points to note
Shares of Take-Two Interactive Software, Inc. (NASDAQ: TTWO) stayed red on Monday. The stock has gained 16% over the past three months. The gaming company is set to report its second
Earnings Summary: Highlights of Loews Corporation’s (L) Q3 2024 report
Loews Corporation (NYSE: L), a diversified company with businesses in the insurance, energy, hospitality, and packaging industries, on Monday reported higher revenue and profit for the third quarter of 2024.