Winnebago Earnings: WGO Stock Ticks 6% Lower Despite Q3 Beats

Winnebago (NYSE:WGO) earnings for the third quarter of fiscal 2020 have WGO stock down on Wednesday. This comes despite reporting revenue of $402.46 million, which is above Wall Street’s estimate of $346.1 million. The company also reported adjusted losses per share of 26 cents, while analysts were expecting a 44-cent loss for the quarter.

Winnebago Earnings: WGO Stock Ticks 4% Lower Despite Q3 Beats

Source: Jonathan Weiss/

Furthermore, the company reported GAAP losses per share of 37 cents during the period.

The following is a more thorough look at the most recent Winnebago earnings report.

  • Adjusted per-share losses were a negative switch from earnings per share (EPS) of $1.14 during Q3 2019.
  • Revenue for the quarter comes in 23.9% lower compared to $528.94 million during the same time last year.
  • Operating losses of $8.17 million are much worse year-over-year from operating income of $48.97 million.
  • Winnebago’s earnings also includes a net loss of $12.35 million.
  • That does not look very good next to net income of  $36.17 million during the third quarter of 2019.
  • Additionally, the company mentions that its towable revenues fell 45.5% during the period, while its motorhome revenue increased 27.1%.

Michael Happe, president and chief executive officer of Winnebago, had this to say about the WGO stock earnings:

“Our third fiscal quarter was a uniquely challenging time for Winnebago Industries, as it spanned the most intense portion of the unexpected COVID-19 pandemic in the U.S. … As we ramp up operations across our portfolio, I have been inspired by the efforts our team members have put forth to ensure our manufacturing, warehouse, service, office, and remote environments are as safe as possible. Despite the COVID-19 disruption and ongoing related obstacles, we have not lost our focus on quality, innovation and customer service. We have grown market share, strengthened dealer and supplier relationships, and maintained key investments in initiatives critical to our future.”

Moreover, the company does not mention any sort of fiscal 2020 guidance. That said, we know what Wall Street is expecting for the year. Analysts are calling for EPS of $1.83 on revenue of $2.15 billion.

WGO stock was down 6.2% as of Wednesday morning.

Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.

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