Winnebago Industries falls on Q4 revenue miss

Winnebago Industries

18/10/2023 15:17

** Shares of recreational vehicle (RV) maker Winnebago
Industries  WGO.N  down about 1% at $57.90
    ** Company's Q4 revenue declines 34.6% to $771 mln over the
year earlier, missing analysts' est. of $784.3 mln - LSEG data
    ** Revenue decline driven by lower unit sales due to retail
market conditions, dealer efforts to reduce inventories and high
discounts - WGO
    ** Company expects continued retail market headwinds,
coupled with dealer selectiveness to take on additional
inventory through the first half of FY24 - CEO Michael Happe 
    ** WGO reports Q4 adj. earnings of $1.59/shr, compared with
analysts' est. of $1.35/shr
    ** Stock up 10.5% YTD 

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