By Emily Dattilo
Shares of Winnebago Industries were trading lower after the recreational-vehicle maker turned in disappointing earnings and sales.
Winnebago stock fell 5.7% in premarket trading Friday.
For its first fiscal quarter ended Nov. 30, the company reported an adjusted loss of 3 cents a share, missing Wall Street's call for earnings of 20 cents, according to FactSet.
Revenue of $625.6 million was below the consensus call for $672 million.
"As expected, the RV and marine operating environment remained challenging in the first quarter, marked by subdued consumer demand and a cautious dealer network reluctant to make significant commitments on new orders ahead of the historically slow winter season," said CEO Michael Happe in a statement.
The company narrowed its financial guidance for fiscal 2025 and now forecasts adjusted earnings per share of $3.10 to $4.40, compared with a prior range of $3 to $4.50. Analysts had penciled in $3.38.
Write to Emily Dattilo at emily.dattilo@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
December 20, 2024 07:27 ET (12:27 GMT)
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