Shares of Winnebago Industries Inc. /zigman2/quotes/210279661/composite WGO -0.07% rose 0.7% in premarket trading Wednesday, after the recreational vehicle company swung to a fiscal third-quarter profit that beat expectations, as revenue more than doubled to record levels. For the quarter to May 29, the company reported net income of $71.3 million, or $2.05 a share, after a loss of $12.4 million, or 37 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $2.16, beating the FactSet consensus of $1.77. Revenue rose 138.7% to $960.7 million, well above the FactSet consensus of $836.8 million. Towable revenue nearly tripled, rising 194.2% to $555.7 million to top the FactSet consensus of $409.5 million, while motorhome revenue increased 89.2% to $385.3 million to beat forecasts of $356.5 million. Gross profit as a percentage of total revenue improved to 17.7% from 8.0%. The stock has gained 11.0% year to date through Tuesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.29% has advanced 13.1%.
Add to watchlist
WGO
