Winnebago Industries Q3 Net Profit Halves, Results Misses Estimates

(RTTNews) - Recreation vehicles maker Winnebago Industries, Inc. (WGO) reported on Wednesday that third-quarter net income nearly halved to $29.0 million or $0.96 per share from $59.1 million or $1.71 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.13 per share, compared to $2.13 per share in the year-ago quarter.

On average, 12 analysts polled by Thomson Reuters expected the company to report earnings of $1.32 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter declined 12.7 percent to $786.00 million from $900.80 million in the same quarter last year. Analysts estimated revenues of $799.85 million for the quarter.

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