Winnebago (WGO) delivered earnings and revenue surprises of -4.29% and 2.71%, respectively, for the quarter ended February 2020. Do the numbers hold clues to what lies ahead for the stock?
While Winnebago Industries (WGO) is likely to have bore the brunt of high input costs, Newmar and Grand Design buyouts are expected to have aided the firm's earnings in the quarter to be reported.
Winnebago Industries, Inc. (WGO) today provided the following business update on actions the Company is taking in response to the COVID-19 pandemic. As previously announced, Winnebago Industries resumed production at certain of its locations (Chris-Craft and Specialty Vehicles), beginning the week of April 13th. Future production rates and plans will vary by brand and are subject to change, as the Company will continue to evaluate the demand conditions present in its end markets and guidance from the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and state and federal governments.
Moody's Investors Service ("Moody's") downgraded its ratings for Winnebago Industries, Inc. ("Winnebago"), including the company's corporate family rating (CFR, to B2 from B1) and the probability of default rating (to B2-PD from B1-PD), and the rating on the senior secured term loan facility (to B2 from B1). The ratings outlook is negative.
Winnebago (WGO) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Winnebago Industries Inc. reported Wednesday fiscal second-quarter profit that matched expectations while revenue rose above forecasts, as a beat by its towables business helped offset a slight miss in motorhomes. The stock was indicated up oer 1% in premarket trading. The recreational vehicle maker said it has seen a "significant change" in demand for products in mid-March from consumers and dealer partners, as a result of the coronavirus outbreak. Net income for the quarter to Feb. 29 fell to $17.3 million, or 51 cents a share, from $21.6 million, or 68 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to 67 cents, in line with the FactSet consensus. Revenue rose 44.9% to $626.8 million, above the FactSet consensus of $614.0 million, with the Newmar acquisition contributing $138.4 million in revenue. Towable revenue grew 13.1% to $283.5 million, above the FactSet consensus of $274.1 million, while motorhome revenue increased 97.7% to $325.5 million, boosted by the Newmar acquisition, but was below expectations of $326.5 million. The company declared a regular quarterly dividend of 11 cents a share, payable April 29 to shareholders of record on April 15. The stock has plunged 57.5% over the past month through Tuesday, while the S&P 500 has lost 21.8%.
40 North Management and Standard Industries both want change at GCP, a maker of construction materials. Value Capital Partners disclosed a large position in payments processor Net 1 UEPS.
We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […]
Winnebago Industries, Inc. (WGO) today provided an update on additional actions the Company is taking in response to the COVID-19 pandemic, including with regard to its manufacturing operations, and ongoing cost containment and financial management initiatives. Each business within Winnebago Industries currently continues to perform essential activities for its dealers and end customers, including remote retail support for dealers, along with technical care, warranty administration, and parts fulfillment. In addition, the Company intends to resume production at certain of its locations, beginning the week of April 13th.
FOREST CITY, Iowa, May 19, 2020 -- Winnebago Industries, Inc. (NYSE:WGO), a leading outdoor lifestyle product manufacturer, today announced that on May 19, 2020, the Company’s.
Q2 2020 Winnebago Industries Inc Earnings Call
In this daily bar chart of WGO, below, we can see the price movement of the last 12 months. The slopes of the 50-day moving average line and the 200-day moving average line turned negative and earlier this month we can see a bearish death cross of these two lagging indicators. Trading volume has not been particularly heavy and the On-Balance-Volume (OBV) line has been pretty steady this year.
As the nation begins to recover from the COVID-19 virus, marketing teams across the country have to get creative with their applications for community outreach. Experiential marketing applications that engage customers with unique brand experiences have grown in popularity recently, but taking these concepts on the road can broaden brand reach and provide services to communities at large during this time. Building upon the success of their 2019 Vikings Table food truck collaboration, Winnebago Industries' Specialty Vehicle Division [NYSE: WGO] and the Minnesota based experiential marketing agency STAR have established a strategic partnership to offer mobile experiential marketing opportunities to a broader range of clients. The partnership will utilize Winnebago Industries' Specialty Vehicle Division's history of quality production on their Commercial Shell on a Winnebago RV platform and STAR's experiential marketing expertise to enhance how clients look at mobile marketing.
-- Strong Sales Growth Continues to Outperform the RV Industry -- -- Quarterly Revenues Increased 45%, including Robust Organic Growth of 13% -- -- Reported Quarterly.
Punch Card Capital lifted its holding in the maker of motor homes and recreational vehicles to 2,385,740 shares, and it wants changes at Winnebago.
Shares of Camping World Holdings (NYSE: CWH), Winnebago Industries (NYSE: WGO), and Thor Industries (NYSE: THO), various manufacturers and retailers within the recreational vehicle industry, all jumped at least 9% higher Monday after a couple of positive developments sent markets higher. Federal Reserve Chairman Jerome Powell boosted investor confidence when he commented on CBS's 60 Minutes that, "There's a lot more we can do," and that the Fed had plenty more ammunition if needed.
Winnebago Industries shows improving price performance, earning an upgrade to its IBD Relative Strength Rating
Americans began the lockdown by hoarding toilet paper, sweat pants, and puzzles. Now, with Memorial Day around the corner, it’s bicycles, boats, and inflatable pools.
Amid the coronavirus pandemic, Winnebago Industries (WGO) temporarily suspends most production activities at its facilities including Grand Design RV, Newmar and Chris-Craft till Apr 12.
Winnebago, citing health concerns and slumping demand, suspended most recreational-vehicle production.