Winnebago Industries, Inc. (NYSE:WGO) stock was down on Wednesday despite reporting an earnings beat for its fiscal first quarter of 2018.
During its fiscal first quarter of 2018, Winnebago Industries, Inc. reported earnings per share of 57 cents. This is an increase over its earnings per share of 42 cents from the same time last year. It also came in above Wall Street’s earnings per share estimate of 52 cents for the period.
Winnebago Industries, Inc. reported operating income of $31.18 million for its fiscal first quarter of 2018. This is better than its operating income of $18.40 million that was reported in its fiscal first quarter of 2017.
Net income reported by Winnebago Industries, Inc. in its fiscal first quarter of 2018 came in at $17.96 million. The manufacturer of motors homes reported net income of $11.74 million in its fiscal first quarter of the previous year.
Revenue reported by Winnebago Industries, Inc. in its fiscal first quarter of 2018 was $450.02 million. This is up from its revenue of $245.31 million that was reported in the same period of the year prior. It also beat out analysts’ revenue estimate of $387.13 million for the quarter.
Winnebago Industries, Inc. notes that its revenue increase during the quarter was thanks to strong sales from its towable division, which brought in $259.70 million. This is mostly due to the $195.40 million in revenue from its acquisition of Grand Design RV.
Winnebago Industries, Inc. also announced a dividend in its most recent earnings report. The company will be paying holders of WGO stock 10 cents per share. This dividend will be payable on Jan. 24, 2018 to investors on record as of Jan. 10, 2018.
WGO stock was down 6% as of Wednesday morning, but is up 76% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.