Winnebago’s stock surges after big profit, revenue beats

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Shares of Winnebago Industries Inc. rallied 5.1% in premarket trading Friday, after the recreational vehicle maker reported a big fiscal first-quarter profit beat and revenue that rose well above forecasts, boosted by strength in its towables business. Net income for the quarter to Nov. 28 rose to $57.4 million, or $1.70 a share, from $14.1 million, or 44 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.69, above the FactSet consensus of $1.01, as gross profit margin increased by 3.9 percentage points. Revenue grew 34.8% to $793.1 million to beat the FactSet consensus of $752.5 million. Towables revenue increased 33.3% to $454.9 million, above the FactSet consensus of $401.8 million, while motorhome revenue jumped 42.7% to $322.4 million but came up shy of expectations of $332.6 million. Winnebago’s stock has hiked up 19.8% over the past three months through Thursday, while the S&P 500 has gained 12.1%.
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