- Winnebago Industries (NYSE:WGO) falls 6.4% in premarket trading after its fiscal Q3 revenue of $528.9M trailed the average analyst estimate of $560.8M.
- Compares with $562.3M in fiscal Q3 2018.
- Net income for the quarter ended May 25, 2019 was $36.2M, or $1.14, vs. $32.5M, or $1.02 per share, in the year-ago quarter; compares with
- Earnings were reduced by 3 cents per share from restructuring costs for moving its diesel manufacturing from Oregon to Iowa and were increased by 6 cents per share from federal tax reform and by 4 cents for a change in estimate related to R&D tax credits.
- Excluding items, Q3 EPS was $1.04, exceeding consensus estimate by a penny.
- Q3 motorhome sales of $106.2M fell 35% Y/Y Class C and Class A unit sales fell as dealers continue to lower their inventories; Class B unit sales and segment profitability also fell due to a temporary, but material, disruption in chassis supply by one of its suppliers.
- Sees Class B portfolio returning to strong performance in the back half of fiscal Q4 and during fiscal 2020.
- Conference call at 10:00 AM ET.
- Previously: Winnebago EPS beats by $0.01, misses on revenue (June 19)
Winnebago -6.4% as Q3 sales hurt by chassis supply disruption
Recommended For You
About WGO Stock
Related Stocks
Symbol | Last Price | % Chg |
---|---|---|
WGO | - | - |
Winnebago Industries, Inc. |