Winnebago Swings to 1Q Loss on Subdued Demand

Dow Jones

Dec 20, 2024

By Dean Seal

Winnebago Industries swung to a loss in the fiscal first quarter on a bigger-than-expected drop in revenue.

The RV and boat maker posted a loss of $5.2 million, or 18 cents a share, for the quarter ended Nov. 30, compared with a profit of $25.8 million, or 78 cents a share, in the same period a year ago.

Stripping out one-time items, the adjusted loss was 3 cents a share. Analysts polled by FactSet had been expecting an adjusted profit of 20 cents a share.

Revenue fell 18% to $625.6 million, below analyst projections for $672 million, according to FactSet.

Chief Executive Michael Happe said the quarter was hurt by subdued consumer demand and cautiousness among its dealers to make new orders ahead of a historically slow winter season.

Shares slid 4.8% to $49.44 in premarket trading.

The company still expects to hit $2.9 billion to $3.2 billion in revenue for the fiscal year, but narrowed its earnings forecast by 10 cents at each end to $2.50 to $3.80 a share. Adjusted earnings are now expected to be $3.10 to $4.40 a share, again narrowing its prior outlook by 10 cents at each end.

Happe said market trends and seasonality remain a challenge in the first half of the fiscal year, but that Winnebago should be well positioned for the spring selling season.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

December 20, 2024 07:43 ET (12:43 GMT)

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Adjusted earnings are now expected to be $3.10 to $4.40 a share, again narrowing its prior outlook by 10 cents at each end. \n</p>\n<p>\n  Happe said market trends and seasonality remain a challenge in the first half of the fiscal year, but that Winnebago should be well positioned for the spring selling season. \n</p>\n<p>\n  Write to Dean Seal at dean.seal@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 20, 2024 07:43 ET (12:43 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2492417791","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492417791","pubTimestamp":1734698580,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Winnebago Industries swung to a loss in the fiscal first quarter on a bigger-than-expected drop in revenue.The RV and boat maker posted a loss of $5.2 million, or 18 cents a share, for the quarter ended Nov. 30, compared with a profit of $25.8 million, or 78 cents a share, in the same period a year ago.Stripping out one-time items, the adjusted loss was 3 cents a share. 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Analysts polled by FactSet had been expecting an adjusted profit of 20 cents a share. \n\n\n  Revenue fell 18% to $625.6 million, below analyst projections for $672 million, according to FactSet. \n\n\n  Chief Executive Michael Happe said the quarter was hurt by subdued consumer demand and cautiousness among its dealers to make new orders ahead of a historically slow winter season. \n\n\n  Shares slid 4.8% to $49.44 in premarket trading. \n\n\n  The company still expects to hit $2.9 billion to $3.2 billion in revenue for the fiscal year, but narrowed its earnings forecast by 10 cents at each end to $2.50 to $3.80 a share. Adjusted earnings are now expected to be $3.10 to $4.40 a share, again narrowing its prior outlook by 10 cents at each end. \n\n\n  Happe said market trends and seasonality remain a challenge in the first half of the fiscal year, but that Winnebago should be well positioned for the spring selling season. \n\n\n  Write to Dean Seal at dean.seal@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 20, 2024 07:43 ET (12:43 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}