Winnebago Stock Soars on Earnings Beat

WGO beat EPS estimates by 11 cents

Winnebago (NYSE:WGO) stock was on the rise Wednesday following the release of its earnings report for its fiscal third quarter of 2018.

Winnebago Stock Soars on Earnings Beat
Source: Shutterstock

During its fiscal third quarter of the year, Winnebago reported earnings per share of $1.02. This is a massive jump from its earnings per share of 61 cents from the same time last year. It was also good news for WGO stock by beating out Wall Street’s earnings per share estimate of 91 cents for the period.

Winnebago’s earnings report for its fiscal third quarter of 2018 includes net income of $32.52 million. This is better than the motor home company’s net income of $19.39 million that was reported in its fiscal third quarter of 2017.

Operating income reported by Winnebago for its fiscal third quarter of the year came in at $48.28 million. This is an improvement over its operating income of $34.86 million that was reported in the same period of the year prior.

Winnebago also reported revenue of $562.21 million for its fiscal third quarter of 2018. The company’s revenue from its fiscal third quarter of the previous year was $476.36 million. Analysts were looking for revenue of $540.59 million for the quarter.

Winnebago notes that its strong revenue growth for its fiscal third quarter of the year was thanks to its Towable segment. The company’s revenue in this segment for the quarter was $313.0 million. This is up 33.4% from what it was during the same time in 2017.

WGO stock was up 13% as of noon Wednesday, but is down 27% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/06/winnebago-stock-soars-on-earnings-beat/.

©2019 InvestorPlace Media, LLC