Winnebago Industries blows past Wall Street estimates in fiscal Q1

Winnebago Industries Inc. (NYSE: WGO) published its earnings report for the fiscal first quarter on Friday that blew past Wall Street estimates for profit and revenue despite the ongoing Coronavirus pandemic that has so far infected more than 17 million people in the United States and caused over 300 thousand deaths.

Winnebago shares initially jumped 3% in after-hours trading on Friday but lost the entire gain later on. On a year-to-date basis, the stock is now close to 20% up. If you’re interested in investing in the stock market online, you’ll need a reliable stock broker – here’s a list of the top few to make selection easier for you.

Winnebago’s Q1 financial results versus analysts’ estimates

The company attributed its hawkish performance to its towables business that it said showed resilience in the recent quarter. In separate news from the United States, Darden Restaurants said on Friday that sales at Olive Garden contracted more than expected in the second quarter.

Winnebago said that its net income in the quarter that concluded on 29^th November printed at £42.54 million that translates to £1.26 per share. In the comparable quarter of last year, its net income was capped at a much lower £10.45 million, or 32.61 pence per share.

Adjusted for one-time items, the recreational vehicle maker earned £1.25 per share in Q1. Winnebago said on Friday that its gross profit margin in the recent quarter jumped 3.9 percentage points. The American manufacturer published its 2020 Corporate Responsibility report last week.

In terms of revenue, the Forest City-headquartered company reported £587.72 million of revenue that represents a 34.8% annualised growth. According to FactSet, experts had forecast the company to post a lower £557.64 million of revenue in the first quarter. Their estimate for per-share earnings stood at 75 pence.

Winnebago’s towables revenue jumped 33.3% in Q1

At £337.10 million, towables revenue saw a 33.3% year over year increase in the recent quarter. FactSet Consensus for revenue from this segment in Q1 was capped at a lower £297.75 million. Motorhome revenue, on the other hand, climbed by 42.7% in the first quarter to £238.91 million versus a marginally higher £239.06 million expected.

Winnebago Industries performed largely upbeat in the stock market last year with an annual gain of more than 100%. At the time of writing, it is valued at £1.57 billion and has a price to earnings ratio of 34.12.