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Winnebago (WGO) Q2 Earnings Lag Estimates, Revenues Top
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Winnebago Industries Inc. (WGO - Free Report) registered adjusted earnings of 62 cents per share in the second quarter of fiscal 2018 (ended Feb 24, 2018), missing the Zacks Consensus Estimate of 65 cents. In the year-ago period, earnings were 48 cents per share. However, net income soared 44.6% to $22.1 million.
Revenues in the reported quarter surged 26.4% to $468.4 million from $370.5 million in the prior-year quarter. The figure outpaced the Zacks Consensus Estimate of $447 million. This upside in the top line was driven by continued strong growth in the Towable segment
Operating profit in the period under review rose 24.2% to $35.3 million from $28.4 million in the year-ago quarter. Gross profit improved to $67.7 million, increasing from $49.3 million a year ago.
Winnebago Industries, Inc. Price, Consensus and EPS Surprise
Revenues from Motorized segment gained 1.5% to $202 million from the year-ago period. Adjusted EBITDA dropped 62.7% to $4 million.
Revenues from the Towable segment improved 55.2% to $266.4 in comparison with the second quarter of last fiscal. This upside was driven by added revenues from the Grand Design acquisition and continued strong organic growth from Winnebago-branded products. Adjusted EBITDA was pegged at $35.3 million, up 93.8% from the prior-year quarter.
Financial Position
Winnebago had cash and cash equivalents of $27.4 million as of Feb 24, 2018, compared with $35.9 million as of Aug 27, 2017.
For the first half of fiscal 2018, Winnebago’s cash flow from operations was $15 million, the rise of $9.9 million from the same period in fiscal 2017. This is primarily due to increased earnings, partly offset by working capital changes.
Price Performance
Over a year, shares of Winnebago have outperformed the industry it belongs to. Its stock has gained 42% in comparison to the industry’s rise of 34%.
Spartan Motors has an expected long-term growth rate of 15%. Over a year, shares of the company have declined 144.3%.
Standard Motor has an expected long-term growth rate of 6%. Shares of the company have gained 1.5% in the last six months.
Gentex has an expected long-term growth rate of 9.7%. In the last six months, shares of the company have gained 20.2%.
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Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
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Winnebago (WGO) Q2 Earnings Lag Estimates, Revenues Top
Winnebago Industries Inc. (WGO - Free Report) registered adjusted earnings of 62 cents per share in the second quarter of fiscal 2018 (ended Feb 24, 2018), missing the Zacks Consensus Estimate of 65 cents. In the year-ago period, earnings were 48 cents per share. However, net income soared 44.6% to $22.1 million.
Revenues in the reported quarter surged 26.4% to $468.4 million from $370.5 million in the prior-year quarter. The figure outpaced the Zacks Consensus Estimate of $447 million. This upside in the top line was driven by continued strong growth in the Towable segment
Operating profit in the period under review rose 24.2% to $35.3 million from $28.4 million in the year-ago quarter. Gross profit improved to $67.7 million, increasing from $49.3 million a year ago.
Winnebago Industries, Inc. Price, Consensus and EPS Surprise
Winnebago Industries, Inc. Price, Consensus and EPS Surprise | Winnebago Industries, Inc. Quote
Segment Results
Revenues from Motorized segment gained 1.5% to $202 million from the year-ago period. Adjusted EBITDA dropped 62.7% to $4 million.
Revenues from the Towable segment improved 55.2% to $266.4 in comparison with the second quarter of last fiscal. This upside was driven by added revenues from the Grand Design acquisition and continued strong organic growth from Winnebago-branded products. Adjusted EBITDA was pegged at $35.3 million, up 93.8% from the prior-year quarter.
Financial Position
Winnebago had cash and cash equivalents of $27.4 million as of Feb 24, 2018, compared with $35.9 million as of Aug 27, 2017.
For the first half of fiscal 2018, Winnebago’s cash flow from operations was $15 million, the rise of $9.9 million from the same period in fiscal 2017. This is primarily due to increased earnings, partly offset by working capital changes.
Price Performance
Over a year, shares of Winnebago have outperformed the industry it belongs to. Its stock has gained 42% in comparison to the industry’s rise of 34%.
Zacks Rank & Other Key Picks
Winnebago sports a Zacks Rank #1 (Strong Buy). Other top-ranked stocks in the auto space include Spartan Motors, Inc. , Standard Motor Products, Inc. (SMP - Free Report) and Gentex Corporation (GNTX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Spartan Motors has an expected long-term growth rate of 15%. Over a year, shares of the company have declined 144.3%.
Standard Motor has an expected long-term growth rate of 6%. Shares of the company have gained 1.5% in the last six months.
Gentex has an expected long-term growth rate of 9.7%. In the last six months, shares of the company have gained 20.2%.
Can Hackers Put Money INTO Your Portfolio?
Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.
Zacks has just released Cybersecurity! An Investor’s Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.
Download the new report now>>