UPDATE: Winnebago Posts Upbeat FQ3 Earnings, Shares Surge
Shares of Winnebago Industries (NYSE: WGO) jumped around 3% in pre-market trading after the company released fiscal third-quarter results.
Winnebago reported a 49% gain in its fiscal third-quarter earnings.
Winnebago's quarterly earnings surged to $11.4 million, or $0.42 per share, versus $7.7 million, or $0.27 per share, in the year-ago period.
Its revenue climbed 14% to $247.7 million from $218.2 million. However, analysts were expecting earnings of $0.39 per share on revenue of $248.6 million.
Winnebago's deliveries of motor homes climbed 18% to 2,331 units, while deliveries of towable travel and fifth-wheel trailers rose 2% to 727 units.
Chairman, CEO and President Randy Potts 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 the third quarter. This was in spite of not including revenue of approximately $18 million related to certain rental units subject to repurchase option.”
Winnebago shares surged 2.94% to $24.50 in pre-market trading.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.