Winnebago Industries, Inc. (WGO) Releases Q1 Earnings Report

WGO beat EPS and revenue estimates

Winnebago Industries, Inc. (NYSE:WGO) released its earnings report for its fiscal first quarter of 2017 on Wednesday.

Winnebago Industries, Inc., WGO
Source: Flickr

Winnebago Industries, Inc. reported earnings per share of 42 cents for its fiscal first quarter of 2017. This is an increase over its earnings per share of 32 cents from the same time last year. It also came in above Wall Street’s earnings per share estimate of 31 cents for its fiscal first quarter of 2017.

Revenue reported by Winnebago Industries, Inc. for its fiscal first quarter of 2016 was $245.31 million. The RV company’s revenue from its fiscal first quarter of 2016 was $214.22 million. Analysts were expecting WGO to report revenue of $232.34 million for its fiscal first quarter of 2017.

Winnebago Industries, Inc. reported operating income of $18.40 million for its fiscal first quarter of 2017. Operating income from the same period in the year prior was $12.76 million. Net income for the quarter was $11.74 million. WGO’s net income from the same time in fiscal 2016 was $8.56 million.

For its fiscal first quarter of 2017,  Winnebago Industries, Inc. reported that revenue for its Motorized segment was down by 1.1%. However, revenue from its Towable segment was up by 197.2% during its fiscal first quarter of 2017.

“We successfully completed the acquisition of Grand Design, significantly expanding our penetration within the fast-growing Towable market and creating a broader and more balanced portfolio well-positioned to capitalize on the opportunities across the RV market,” Michael Happe, President and CEO of Winnebago Industries, Inc., said in a statement.

WGO stock was down by 5% as of Noon Wednesday, but is up 75% year-to-date.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/12/winnebago-industries-inc-wgo/.

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