Categories AlphaGraphs, Earnings

Winnebago shares rise on Q3 earnings beat

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.

Winnebago Industries Segment Unit Backlog Deliveries

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

Thermo Fisher Scientific (TMO) Q4 earnings drop despite higher revenues

Thermo Fisher Scientific Inc. (NYSE: TMO) announced fourth-quarter 2022 financial results, reporting a double-digit fall in adjusted earnings and an increase in revenues. Fourth-quarter revenues increased 7% annually to $11.5

Altria Group (MO) Q4 2022 Earnings: Key financials and quarterly highlights

Altria Group Inc. (NYSE: MO) reported fourth quarter 2022 earnings results today. Net revenues decreased 2.3% year-over-year to $6.1 billion. Net earnings attributable to Altria increased 65.6% to $2.6 billion

AMD Earnings: Advanced Micro Devices Q4 revenue up 16%, profit drops

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in fourth-quarter earnings, despite an increase in revenues. Earnings, excluding special items, dropped to $0.69 per share in the

Tags

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