We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Share price of Winnebago Industries, Inc. (WGO - Free Report) increased 0.9% to $23.15 on Jun 23 after the company reported impressive third-quarter fiscal 2016 results. Winnebago recorded earnings of 53 cents per share in the third quarter (ended May 28, 2016) of fiscal 2016, 25.5% higher than 43 cents earned in the prior-year quarter. Also, the figure surpassed the Zacks Consensus Estimate of 46 cents. Net income increased to $14.4 million from $11.5 million in the year-ago quarter.
Revenues for the third quarter rose 2.1% to $272.1 million from $266.5 million in the prior-ago quarter. Moreover, the figure outpaced the Zacks Consensus Estimate of $270 million. The year-over-year improvement in the top line was driven by higher motorized unit shipments together with higher revenues from the towable segment.
Unit shipments in the towables segment surged 62.4% while that of motorhomes increased 12.4% year over year.
Operating profit for the reported quarter rose to $20.6 million from $16.1 million in the prior-year quarter. Gross profit improved to $30.3 million or 11.1% of sales from $28.2 million or 10.6% of sales a year ago. The year-over-year increase in gross margin was backed by realization of cost-saving benefits related to Winnebago’s strategic sourcing initiative, leading to lower raw material costs. Gross margin expansion was also aided by a favorable product mix. However, these gains were partly offset by higher warranty expense.
Winnebago had cash and cash equivalents of $71.3 million as of May 28, 2016, compared with $70.2 million as of Aug 29, 2015.
In the first nine months of fiscal 2016, Winnebago’s cash flow from operations was $31.7 million, up from $18.6 million in the year-ago period. Capital expenditure increased to $19.9 million from $14.1 million in the first nine months of fiscal 2015.
Dividend
On Jun 15, 2016, the board of directors of Winnebago approved a quarterly dividend of 10 cents per share. The dividend will be paid on Jul 27, to stockholders on record as of Jul 13.
Zacks Rank
Winnebago currently carries a Zacks Rank #3 (Hold).
Some better-ranked automobile stocks include Lear Corp. (LEA - Free Report) , Oshkosh Corporation (OSK - Free Report) and Superior Industries International, Inc. (SUP - Free Report) , all sporting a Zacks Rank #1 (Strong Buy).
Want 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 >>
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
Winnebago's (WGO) Q3 Earnings Beat Estimates, Rise Y/Y
Share price of Winnebago Industries, Inc. (WGO - Free Report) increased 0.9% to $23.15 on Jun 23 after the company reported impressive third-quarter fiscal 2016 results. Winnebago recorded earnings of 53 cents per share in the third quarter (ended May 28, 2016) of fiscal 2016, 25.5% higher than 43 cents earned in the prior-year quarter. Also, the figure surpassed the Zacks Consensus Estimate of 46 cents. Net income increased to $14.4 million from $11.5 million in the year-ago quarter.
Revenues for the third quarter rose 2.1% to $272.1 million from $266.5 million in the prior-ago quarter. Moreover, the figure outpaced the Zacks Consensus Estimate of $270 million. The year-over-year improvement in the top line was driven by higher motorized unit shipments together with higher revenues from the towable segment.
Unit shipments in the towables segment surged 62.4% while that of motorhomes increased 12.4% year over year.
Operating profit for the reported quarter rose to $20.6 million from $16.1 million in the prior-year quarter. Gross profit improved to $30.3 million or 11.1% of sales from $28.2 million or 10.6% of sales a year ago. The year-over-year increase in gross margin was backed by realization of cost-saving benefits related to Winnebago’s strategic sourcing initiative, leading to lower raw material costs. Gross margin expansion was also aided by a favorable product mix. However, these gains were partly offset by higher warranty expense.
WINNEBAGO Price, Consensus and EPS Surprise
WINNEBAGO Price, Consensus and EPS Surprise | WINNEBAGO Quote
Financial Position
Winnebago had cash and cash equivalents of $71.3 million as of May 28, 2016, compared with $70.2 million as of Aug 29, 2015.
In the first nine months of fiscal 2016, Winnebago’s cash flow from operations was $31.7 million, up from $18.6 million in the year-ago period. Capital expenditure increased to $19.9 million from $14.1 million in the first nine months of fiscal 2015.
Dividend
On Jun 15, 2016, the board of directors of Winnebago approved a quarterly dividend of 10 cents per share. The dividend will be paid on Jul 27, to stockholders on record as of Jul 13.
Zacks Rank
Winnebago currently carries a Zacks Rank #3 (Hold).
Some better-ranked automobile stocks include Lear Corp. (LEA - Free Report) , Oshkosh Corporation (OSK - Free Report) and Superior Industries International, Inc. (SUP - Free Report) , all sporting a Zacks Rank #1 (Strong Buy).
Want 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 >>