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Winnebago's (WGO) Q3 Earnings & Sales Breeze Past Estimates
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Winnebago Industries, Inc. (WGO - Free Report) reported third-quarter fiscal 2021 (ended May 29, 2021) adjusted earnings per share of $2.16, surpassing the Zacks Consensus Estimate of $1.76 and turning around from the year-ago loss of 26 cents. This outperformance can be attributed to higher-than-anticipated revenues across both Towable and Motorhome segments.
This recreational vehicle maker reported revenues of $960.7 million for the quarter under review, outpacing the Zacks Consensus Estimate of $852 million. Moreover, the top line skyrocketed 138.6% year over year.
Winnebago Industries, Inc. Price, Consensus and EPS Surprise
Revenues in the Towable segment for the reported quarter surged 194.2% year over year to $555.7 million, primarily on solid consumer demand for Grand Design and Winnebago branded products. The reported figure also topped the consensus mark of $410 million. Quarterly adjusted EBITDA jumped 387.1% year on year to $80.1 million, courtesy of favorable pricing and operational discipline. The metric also beat the consensus mark of $61 million. Moreover, backlog in the segment amounted to 46,646 units (or $1,522.1 million), up a whopping 264.9% year over year.
For the reported quarter, revenues in the Motorhome segment improved 89.2% year over year to $385.3 million, thanks to strong demand for Newmar and Winnebago branded products. The revenue figure also surpassed the Zacks Consensus Estimate of $356 million. The segment recorded an EBITDA of $37.5 million, turning around from the year-ago loss of $10.8 million. Also, the segment’s backlog was 18,145 units (or $2,180.1 million), skyrocketing 323.3% year on year, highlighting surging consumer demand during the reported quarter.
Financials and Dividend
Winnebago — whose peers include Thor Industries (THO - Free Report) , REV Group, Inc. (REVG - Free Report) and LCI Industries (LCII - Free Report) — had cash and cash equivalents of $405.8 million as of May 29, 2021, up from $292.6 million on Aug 29, 2020. Long-term debt (excluding current maturities) totaled $524.4 million, slightly up from $512.6 million recorded on Aug 29, 2020.
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Winnebago's (WGO) Q3 Earnings & Sales Breeze Past Estimates
Winnebago Industries, Inc. (WGO - Free Report) reported third-quarter fiscal 2021 (ended May 29, 2021) adjusted earnings per share of $2.16, surpassing the Zacks Consensus Estimate of $1.76 and turning around from the year-ago loss of 26 cents. This outperformance can be attributed to higher-than-anticipated revenues across both Towable and Motorhome segments.
This recreational vehicle maker reported revenues of $960.7 million for the quarter under review, outpacing the Zacks Consensus Estimate of $852 million. Moreover, the top line skyrocketed 138.6% year over year.
Winnebago Industries, Inc. Price, Consensus and EPS Surprise
Winnebago Industries, Inc. price-consensus-eps-surprise-chart | Winnebago Industries, Inc. Quote
Segmental Performance
Revenues in the Towable segment for the reported quarter surged 194.2% year over year to $555.7 million, primarily on solid consumer demand for Grand Design and Winnebago branded products. The reported figure also topped the consensus mark of $410 million. Quarterly adjusted EBITDA jumped 387.1% year on year to $80.1 million, courtesy of favorable pricing and operational discipline. The metric also beat the consensus mark of $61 million. Moreover, backlog in the segment amounted to 46,646 units (or $1,522.1 million), up a whopping 264.9% year over year.
For the reported quarter, revenues in the Motorhome segment improved 89.2% year over year to $385.3 million, thanks to strong demand for Newmar and Winnebago branded products. The revenue figure also surpassed the Zacks Consensus Estimate of $356 million. The segment recorded an EBITDA of $37.5 million, turning around from the year-ago loss of $10.8 million. Also, the segment’s backlog was 18,145 units (or $2,180.1 million), skyrocketing 323.3% year on year, highlighting surging consumer demand during the reported quarter.
Financials and Dividend
Winnebago — whose peers include Thor Industries (THO - Free Report) , REV Group, Inc. (REVG - Free Report) and LCI Industries (LCII - Free Report) — had cash and cash equivalents of $405.8 million as of May 29, 2021, up from $292.6 million on Aug 29, 2020. Long-term debt (excluding current maturities) totaled $524.4 million, slightly up from $512.6 million recorded on Aug 29, 2020.
The Zacks Rank #2 (Buy) firm announced a quarterly cash dividend of 12 cents per share payable on Jun 30, 2021 to shareholders of record as of Jun 16, 2021. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
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