RV maker Winnebago Industries falls on downbeat Q1 results

Winnebago Industries

20/12/2024 15:28

(Updates)
    ** Shares in recreational vehicle manufacturer Winnebago
Industries  WGO.N  down as much as 5% at $49.34, the lowest
since July 2022
    ** Company misses estimates for Q1 sales and profit, hurt by
lower unit volume, reduction in average selling price, higher
warranties and lower leverage on dealer network
    ** WGO says Q2 is likely to remain challenged
    ** Revenue down 18% at $625.6 mln vs analysts' estimates of
$672.2 mln - data compiled by LSEG
    ** Posts adjusted loss per share of 3 cents vs estimates of
a 20-cent profit
    ** Towable RV and Motorhome RV segment revenue down in the
quarter, while that from Marine segment rose over the year
earlier
    ** Company forecasts annual adjusted EPS of between $3.10
and $4.40, from $3.00 to $4.50 expected earlier
    ** Up to last close, stock down ~29% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com))