Winnebago Industries falls on Q1 profit miss

Winnebago Industries

20/12/2023 13:24

** Shares of Winnebago Industries  WGO.N  fall 6.2% to
$70.50 premarket after recreational vehicle maker misses Q1 adj.
profit estimates
    ** Co reports Q1 adj. earnings of $1.06/shr, missing LSEG
estimates of $1.17/shr 
    ** Q1 revenue at $763 mln vs $952.2 mln a year ago,
pressured by lower unit sales related to market conditions and
higher discounts and allowances 
    ** Revenue from co's Motorhome RV falls 28% YoY to $334.4
mln, whereas revenue from its marine segment falls 33.5% YoY to
$87.3 mln 
    ** Sales in the marine segment fell on dealer reluctance to
carry Pontoon boats during winter months; remain neutral on co -
Brokerage Roth MKM 
    **  As of last close, stock up 42.6% YTD 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))