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- Winnebago Industries Inc (NYSE:WGO) reported fourth-quarter FY21 sales growth of 40.4% year-on-year, to $1.04 billion, beating the analyst consensus of $958.3 million.
- Towable segment revenue grew 35.3% Y/Y to $560 million, driven by unit growth due to the strong end consumer demand and increased pricing across the segment. Motorhome revenue of $448.9 million increased 48.7% Y/Y, driven by an increase in Class B and Class A unit sales and pricing across the segment.
- Gross profit increased 52% Y/Y to $187.2 million, and gross profit margin expanded 150 basis points Y/Y to 18.1%.
- The operating margin was 11.5%, and operating income for the quarter rose 75.4% to $120 million. Adjusted EBITDA increased 68.6% to $129 million.
- Adjusted EPS of $2.57 beat the analyst consensus of $2.01.
- Winnebago’s cash and equivalents totaled $434.6 million as of August 28, 2021, and it generated $237.3 million in operating cash flow for the full year.
- Winnebago’s Towable segment backlog increased 87% Y/Y to 46,590 units amounting to $1.7 billion. Motorhome segment Backlog increased to $2.3 billion, up 119.1% over the prior year.
- Price action: WGO shares are trading higher by 3.52% at $74.78 in premarket on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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