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Stock Market & Financial Investment News

News Breaks
June 26, 2014
07:07 EDTWGOWinnebago reports Q3 EPS 42c, consensus 39c
Reports Q3 revenue $247.7M, consensus $248.64M. The company said, “Driven by strong demand for our products, we achieved the highest quarterly revenue figure since 2005, which led to substantial year-over-year profit growth in Q3. This was in spite of not including revenue of approximately $18M related to certain rental units subject to repurchase option. During the quarter our team operated efficiently and effectively to successfully meet increased demand for our rental units all while maintaining deliveries with our other customers. We are very pleased with our retail growth during the quarter, which is driven by increased rental sales and increased retail consumer demand."
News For WGO From The Last 14 Days
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March 27, 2015
10:57 EDTWGOWinnebago to purchase building for expansion of subassembly operations
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March 26, 2015
16:20 EDTWGOOn The Fly: Closing Wrap
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12:04 EDTWGOWinnebago sinks after Q2 results trail estimates
Shares of recreational vehicle manufacturer Winnebago Industries (WGO) are sinking after the company’s second quarter results trailed analysts’ consensus estimates. WHAT'S NEW: This morning, Winnebago reported Q2 earnings per share of 30c on revenue of $234.5M, trailing analysts' consensus estimates of 38c and $253.26M, respectively. Compared to the same period last year, the company said motorhome revenue increased 2.4% in the second quarter, which was mainly a result of motorhome unit shipment growth of 2.4%. Towables operating income improved $302,000 due primarily to revenue growth of 11.8%, comprised of a 7.7% increase in ASP and 5.2% growth in unit shipments. Gross profit as a percentage of sales improved 30 basis points in Q2 year over year. WHAT'S NOTABLE: In explaining the weak results, the company noted that operating expenses increased in Q2 compared to last year. This was mainly due to $1.5M of incremental general and administrative expenses associated with two strategic initiatives that commenced during the quarter related to ERP implementation and strategic sourcing, as well as increased legal and equipment maintenance costs. Sarah Nielsen, the company's Chief Financial Officer, noted that operating cash flow for Q2 was affected by an increase in receivables of approximately $13M due to timing of invoicing in the quarter. She said the company ended the quarter with elevated inventory levels, in part due to the rental build season. In the second half of the year, the company expects to generate positive cash flow through the continued strength of its operating results, as well as favorable changes in working capital. PRICE ACTION: In early afternoon trading, Winnebago fell $3.42, or about 14.4%, to $20.37 on more than five times its average daily trading volume. Including today's pull back, the shares have lost approximately 23% over the past 12 months. OTHERS TO WATCH: Others in the recreational vehicle space include Thor Industries (THO), down 1.5%, Drew Industries (DW), down 0.9%, and Patrick Industries (PATK), up 0.15%.
10:18 EDTWGOHigh option volume stocks
High option volume stocks: BTX ALL FIVE SGYP SWFT RHT IDCC NVS WGO XBI
09:23 EDTWGOOn The Fly: Pre-market Movers
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07:16 EDTWGOWinnebago reports Q2 EPS 30c, consensus 38c
Reports Q2 revenue $234.5M, consensus $253.26M.
March 25, 2015
15:34 EDTWGONotable companies reporting before tomorrow's open
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March 20, 2015
10:07 EDTWGOHigh option volume stocks
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