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Winnebago Industries, Inc. (WGO - Free Report) recorded earnings of 49 cents per share in the fourth quarter (ended Aug 27, 2016) of fiscal 2016, 14% higher than 43 cents earned in the prior-year quarter. Also, the figure was in line with the Zacks Consensus Estimate. Net income increased to $13.1 million from $11.7 million in the year-ago quarter.
Revenues for the quarter rose 4.9% to $263.3 million from $251 million in the prior-year quarter. Moreover, the figure outpaced the Zacks Consensus Estimate of $252 million. The year-over-year improvement in the top line was driven by higher shipments of motorized units and towables. Meanwhile, revenues were negatively affected by the company’s decision to stop selling aluminum extrusions.
Unit shipments in the towables segment surged 57.5% while that of motorhomes increased 3% year over year.
Operating profit for the reported quarter rose to $18.9 million from $16.9 million in the prior-year quarter. Gross profit improved to $31.9 million or 12.1% of sales from $28.1 million or 11.2% of sales a year ago. The year-over-year increase in gross margin was backed by lower raw material costs related to Winnebago’s strategic sourcing initiative. Gross margin also benefited from a favorable product mix and lower warranty expense.
Winnebago reported a 10.5% year-over-year increase in earnings to $1.68 per share for fiscal 2016 that marginally surpassed the Zacks Consensus Estimate of $1.67.
Revenues for fiscal 2016 fell 0.1% to roughly $975.2 million from $976.5 million in fiscal 2015. However, the top line surpassed the Zacks Consensus Estimate of $966 million.
Financial Position
Winnebago had cash and cash equivalents of $85.6 million as of Aug 27, 2016, compared with $70.2 million as of Aug 29, 2015.
In fiscal 2016, Winnebago’s cash flow from operations was $52.7 million, up from $45.2 million in the year-ago period. Capital expenditure increased to $24.6 million from $16.6 million in fiscal 2015.
Dividend
On Oct 12, 2016, the board of directors of Winnebago approved a quarterly dividend of 10 cents per share. The dividend will be paid on Nov 23, to shareholders on record as of Nov 9, 2016.
Zacks Rank
Winnebago currently sports a Zacks Rank #1 (Strong Buy).
Goodyear has witnessed positive estimate revisions over the last 60 days. It also posted positive earnings surprises in the last four quarters, with an average beat of 10.28%.
Tata Motors has a long-term expected growth rate of 3.6%.
SORL Motor Parts has posted an average positive earnings surprise of 7.46% over the last four quarters.
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Winnebago's (WGO) Q4 Earnings Meet Estimates, Rise Y/Y
Winnebago Industries, Inc. (WGO - Free Report) recorded earnings of 49 cents per share in the fourth quarter (ended Aug 27, 2016) of fiscal 2016, 14% higher than 43 cents earned in the prior-year quarter. Also, the figure was in line with the Zacks Consensus Estimate. Net income increased to $13.1 million from $11.7 million in the year-ago quarter.
Revenues for the quarter rose 4.9% to $263.3 million from $251 million in the prior-year quarter. Moreover, the figure outpaced the Zacks Consensus Estimate of $252 million. The year-over-year improvement in the top line was driven by higher shipments of motorized units and towables. Meanwhile, revenues were negatively affected by the company’s decision to stop selling aluminum extrusions.
Unit shipments in the towables segment surged 57.5% while that of motorhomes increased 3% year over year.
Operating profit for the reported quarter rose to $18.9 million from $16.9 million in the prior-year quarter. Gross profit improved to $31.9 million or 12.1% of sales from $28.1 million or 11.2% of sales a year ago. The year-over-year increase in gross margin was backed by lower raw material costs related to Winnebago’s strategic sourcing initiative. Gross margin also benefited from a favorable product mix and lower warranty expense.
WINNEBAGO Price, Consensus and EPS Surprise
WINNEBAGO Price, Consensus and EPS Surprise | WINNEBAGO Quote
Fiscal 2016 Performance
Winnebago reported a 10.5% year-over-year increase in earnings to $1.68 per share for fiscal 2016 that marginally surpassed the Zacks Consensus Estimate of $1.67.
Revenues for fiscal 2016 fell 0.1% to roughly $975.2 million from $976.5 million in fiscal 2015. However, the top line surpassed the Zacks Consensus Estimate of $966 million.
Financial Position
Winnebago had cash and cash equivalents of $85.6 million as of Aug 27, 2016, compared with $70.2 million as of Aug 29, 2015.
In fiscal 2016, Winnebago’s cash flow from operations was $52.7 million, up from $45.2 million in the year-ago period. Capital expenditure increased to $24.6 million from $16.6 million in fiscal 2015.
Dividend
On Oct 12, 2016, the board of directors of Winnebago approved a quarterly dividend of 10 cents per share. The dividend will be paid on Nov 23, to shareholders on record as of Nov 9, 2016.
Zacks Rank
Winnebago currently sports a Zacks Rank #1 (Strong Buy).
Some other well-ranked auto stocks include The Goodyear Tire & Rubber Company (GT - Free Report) , Tata Motors Limited and SORL Auto Parts, Inc. , all sporting a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Goodyear has witnessed positive estimate revisions over the last 60 days. It also posted positive earnings surprises in the last four quarters, with an average beat of 10.28%.
Tata Motors has a long-term expected growth rate of 3.6%.
SORL Motor Parts has posted an average positive earnings surprise of 7.46% over the last four quarters.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>