Winnebago Industries Q2 Profit Tops Estimates

Winnebago Industries, Inc. (WGO) reported second quarter net income of $52.8 million, a decrease of 42.1% compared to $91.2 million in the prior year quarter. Reported earnings per share was $1.52, compared to $2.69. Adjusted earnings per share was $1.88, a decrease of 40.1% compared to $3.14. Adjusted EBITDA was $88.4 million for the quarter, a decrease of 41.3%.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $1.25, for the quarter. Analysts' estimates typically exclude special items.

Revenues were $866.7 million, a decrease of 25.6% compared to $1.2 billion, prior year, driven by unit volume decreases versus record year-ago comparisons, partially offset by carryover price increases in all segments. Analysts on average had estimated $806.94 million in revenue.

In pre-market trading on the NYSE, Winnebago Industries shares are up 3 percent.

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