Winnebago Industries Inc. (NYSE: WGO) reported its financial results for the fiscal second quarter on Wednesday that topped analysts’ estimates for profit and revenue.
Winnebago Industries shares that you can conveniently trade online via a range of user-friendly apps were reported about 3.5% up in premarket trading on Wednesday. The stock, however, lost roughly 8% later in the day to trade at a per-share price of £53.65. In comparison, Winnebago Industries had started the year 2021 at a significantly lower £44.60 per share.
Winnebago Industries’ Q2 financial results versus analysts’ estimates
Winnebago Industries said that its net income in the second quarter came in at £50.38 million that translates to £1.49 per share. In the comparable quarter of last year, its net income was capped at a much lower £12.61 million, or 37.18 pence per share.
Adjusted for one-time items, the manufacturer of motorhomes earned £1.55 per share in Q2 versus the year-ago figure of 48.85 pence per share. Winnebago said that it generated £612.32 million of revenue in the recent quarter that represents a 34% annualised growth.
According to FactSet, experts had forecast the company to post £587.02 million of revenue in the second quarter. Their estimate for adjusted per-share earnings stood at a lower £1.04. Winnebago’s quarterly results come a day after the furniture company, Steelcase Inc., reported lower than expected fourth-quarter profit and sales.
Other prominent figures in the Forest City-headquartered company’s earnings report include a 55% year over year increase in towable revenue and a 17.5% growth in motorhome revenue in Q2. Revenues from both these segments beat market expectations.
Chief Executive Michael Happe’s comments on Wednesday
CEO Michael Happe commented on the financial update on Wednesday and said:
“Strong retail demand, low field inventory, and record committed dealer orders set the table for continued robust performance, but it should be especially noted we also believe there is secular and ongoing growth in outdoor lifestyle products as consumer priorities have changed due to the pandemic.”
In the prior quarter (Q1) that concluded on 29th November, Winnebago Industries had recorded £42.54 million of net income.
Winnebago Industries performed fairly upbeat in the stock market last year with an annual gain of a little under 15%. At the time of writing, the New York Stock Exchange-listed firm is valued at £1.81 billion and has a price to earnings ratio of 23.94.
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