Winnebago (WGO) Q2 Earnings & Sales Top Estimates, Decline Y/Y

Zacks03-25

Winnebago Industries WGO reported adjusted earnings of 93 cents per share for second-quarter fiscal 2024 (ended Feb 24, 2024), beating the Zacks Consensus Estimate of 86 cents but plummeting 50.5% ...

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWinnebago (WGO) Q2 Earnings & Sales Top Estimates, Decline Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-25 21:20 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/winnebago-wgo-q2-earnings-sales-132000209.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Winnebago Industries WGO reported adjusted earnings of 93 cents per share for second-quarter fiscal 2024 (ended Feb 24, 2024), beating the Zacks Consensus Estimate of 86 cents but plummeting 50.5% ...</p>\n\n<a href=\"https://finance.yahoo.com/news/winnebago-wgo-q2-earnings-sales-132000209.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"WGO","symbol_name":"温尼巴格实业","start_time":0,"source_url":"https://finance.yahoo.com/news/winnebago-wgo-q2-earnings-sales-132000209.html","article_id":"2422546643","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/67UW9NrevT67kHQydYvlqg--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/f4157f1d1fd8d9140f470f9844251dfe"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2422546643","pubTimestamp":1711372800,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Towable RV: Revenues in the Towable RV segment fell 16.9% year over year to $284.7 million, primarily due to a reduction in unit volumes and average selling price. The metric also missed our estimate of $303.4 million. Total deliveries from the segment came in at 6,747 units, decreasing 9.3% year over year but beating our estimate of 6,330 units. Adjusted EBITDA declined 31.8% to $26.8 million owing to deleverage and increased warranty costs. The figure, however, came ahead of our estimate of $24.5 million. The segment’s backlog was $222.3 million , decreasing 20.1%.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"WGO":"温尼巴格实业","REVG":"Rev Group Inc."},"translate_title":"温尼贝戈（WGO）第二季度收益和销售额最高预期，同比下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"WGO":1,"REVG":0.9},"content_text":"Winnebago Industries WGO reported adjusted earnings of 93 cents per share for second-quarter fiscal 2024 (ended Feb 24, 2024), beating the Zacks Consensus Estimate of 86 cents but plummeting 50.5% year over year. The recreational vehicle (“RV”) maker reported revenues of $703.6 million for the quarter under review, outpacing the Zacks Consensus Estimate of $703 million. The top line, however, fell 18.8% year over year.\nSegmental Performance\nTowable RV: Revenues in the Towable RV segment fell 16.9% year over year to $284.7 million, primarily due to a reduction in unit volumes and average selling price. The metric also missed our estimate of $303.4 million. Total deliveries from the segment came in at 6,747 units, decreasing 9.3% year over year but beating our estimate of 6,330 units. Adjusted EBITDA declined 31.8% to $26.8 million owing to deleverage and increased warranty costs. The figure, however, came ahead of our estimate of $24.5 million. The segment’s backlog was $222.3 million (5,273 units), decreasing 20.1%.\nMotorhome RV: Revenues in the Motorhome RV segment slid 16.2% year over year to $338.4 million due to a decline in unit volume, high discounts and an unfavorable product mix. The top line, however, outpaced our estimate of $272.3 million. Total deliveries from the Motorhome RV segment came in at 1,811 units, down 16.4% year over year but surpassing our estimate of 1,446 units. The segment recorded an adjusted EBITDA of $26 million, down 38.9% due to deleveraging, high warranty costs, operational challenges and increased discounts. The metric, however, beat our estimate of $17 million. The backlog was $452.2 million (2,582 units), down 48.2% from the prior year.\nMarine: Revenues in the segment were $69.8 million, decreasing 38.2% year over year, primarily due to lower unit sales and unfavorable product mix. The metric also lagged our estimate of $86.5 million. The total deliveries from the segment came in at 862 units, down 32% year over year and lagged our estimate of 1,003 units. The segment recorded an adjusted EBITDA of $4.4 million, down 69.7% year over year due to deleverage and higher discounts. The metric lagged our estimate of $6.9 million. The backlog for the Marine segment was $102.9 million (1,194 units), down 57%.\nFinancials\nWinnebago had cash and cash equivalents of $265.7 million as of Feb 24, 2024. Long-term debt (excluding current maturities) increased to $694.8 million from $592.4 million recorded on Aug 26, 2023. During the quarter, Winnebago completed a $350 million offering of convertible senior notes for refinancing maturing obligations due in 2025.\nFuture Growth Targets\nWinnebago has set ambitious mid-cycle organic growth goals. It targets net revenues between $4.5 billion and $5.0 billion, gross margin of 18-18.5%, and adjusted EBITDA margin in the band of 11-11.5%.\nThe company aims to secure a North American RV market share exceeding 13% and a U.S. aluminum pontoon market share of 13% while striving for an organic non-RV revenue mix comprising 15% to 20% of total revenues. Free cash flow is anticipated to be within the range of $325 million to $375 million.\nPeer Releases\nTHOR Industries, Inc. THO reported fiscal second-quarter 2024 results on Mar 6. Earnings per share of 40 cents missed the Zacks Consensus Estimate of 69 cents and contracted 20% year over year. The company registered revenues of $2.21 billion for the quarter under review, lagging the Zacks Consensus Estimate of $2.30 billion. The top line declined 5.9% year over year.\nAs of Jan 31, 2024, Thor had cash and cash equivalents of $340.2 million and long-term debt of $1.39 billion. It projects its fiscal 2024 consolidated net sales in the range of $10-$10.5 billion.\nREV Group, Inc. REVG reported fiscal first-quarter 2024 results on Mar 6. Earnings per share of 25 cents surpassed the Zacks Consensus Estimate of 9 cents and rocketed 108% year over year. The company registered revenues of $586 million for the quarter under review, outpacing the Zacks Consensus Estimate of $577 million. In the year-ago period, revenues totaled $583.5 million.\nAs of Jan 31, 2024, REV Group had cash and cash equivalents of $87.9 million. It projects its fiscal 2024 consolidated net sales in the range of $2.45-$2.55 billion.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nThor Industries, Inc. (THO) : Free Stock Analysis Report\nWinnebago Industries, Inc. (WGO) : Free Stock Analysis Report\nREV Group, Inc. (REVG) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2422546643"}