Winnebago Analysts Cut Their Forecasts After Q3 Results

Winnebago Industries, Inc. WGO reported downbeat third-quarter results on Thursday.

The company reported quarterly earnings per share of $1.13, missing the street view of $1.34. Quarterly revenues of $786.0 million missed the analyst consensus of $806.13 million, according to data from Benzinga Pro.

"Notwithstanding difficult retail headwinds in the Motorhome segment, our Towable RV business generated higher revenue versus the same period a year ago and our Barletta pontoon retail share grew to double digits for the trailing three- and six-month periods through April," said Michael Happe, President and Chief Executive Officer.

On May 15, the company approved a quarterly cash dividend of $0.31 per share, payable on June 26, 2024.

"We are also particularly excited about the upcoming market release in our fourth quarter of the Grand Design Lineage motorhome product as well as the Winnebago Connect intelligent control system being introduced on the Winnebago Navion line. Both strategies open new growth opportunities for our organization," Happe added.

Winnebago shares fell 3.5% to close at $54.69 on Thursday.

These analysts made changes to their price targets on Winnebago after the company reported quarterly results.

• Baird cut the price target on Winnebago from $75 to $70. Baird analyst Craig Kennison maintained an Outperform rating.
• BMO Capital cut Winnebago price target from $80 to $75. BMO Capital analyst Tristan Thomas-Martin maintained an Outperform rating.

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