Winnebago Industries (WGO) Misses Q1 EPS by 5c

Winnebago Industries (NYSE: WGO) reported Q1 EPS of $0.32, $0.05 worse than the analyst estimate of $0.37. Revenue for the quarter came in at $214.2 million versus the consensus estimate of $226.26 million.

Chief Financial Officer Sarah Nielsen commented, “First quarter gross margin was our highest since the fourth quarter of Fiscal 2013. This increase is largely due to continued double-digit revenue growth and significantly higher margin within towables, along with improved motorized product mix. To improve labor capacity within our motorized group, we sold our bus division assets and are in the process of ceasing aluminum extrusion operations."

Nielsen concluded, "Our bookings were strong leading into the Louisville RVIA show, where we showcased new products and unveiled new floor plans. Further, we were very encouraged by the demand we received from our dealer partners at the event. During the show, we also announced our expansion to the West Coast for production of select, higher-end class A diesel products, which will ultimately improve our capacity in Forest City, Iowa for the production of class A gas and class C motorhomes."

For earnings history and earnings-related data on Winnebago Industries (WGO) click here.

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