Shares of Winnebago Industries Inc. (WGO) rose 0.7% in premarket trading Wednesday, after the recreational vehicle company swung to a fiscal third-quarter profit that beat expectations, as revenue more than doubled to record levels. For the quarter to May 29, the company reported net income of $71.3 million, or $2.05 a share, after a loss of $12.4 million, or 37 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $2.16, beating the FactSet consensus of $1.77. Revenue rose 138.7% to $960.7 million, well above the FactSet consensus of $836.8 million. Towable revenue nearly tripled, rising 194.2% to $555.7 million to top the FactSet consensus of $409.5 million, while motorhome revenue increased 89.2% to $385.3 million to beat forecasts of $356.5 million. Gross profit as a percentage of total revenue improved to 17.7% from 8.0%. The stock has gained 11.0% year to date through Tuesday, while the S&P 500 has advanced 13.1%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 23, 2021 07:15 ET (11:15 GMT)
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