Winnebago Industries Stock Gains On Q4 Earnings Beat

Winnebago Industries Inc 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.

Earnings Calendar