Winnebago Industries Beats Estimates (WGO)

Forest City, Iowa-based Winnebago Industries, Inc. WGO on Thursday morning released financial results that easily beat Wall Street expectations. Winnebago Industries, Inc reported 1st quarter net income of $3.8 million, or 13 cents per share, compared with a net loss of $1.3 million, or 5 cents per share, a year earlier. Winnebago Industries, Inc. (WGO) reported that its revenue surged to $123.71 million, from $81.02 million a year earlier. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 2 cents per share, on revenue of $96.89 million. Chairman, CEO and president Bob Olson said, “Increased motor home deliveries continued to drive the improvement in our first quarter Fiscal 2011 results. We are pleased to see increases in our delivery volumes, as well as strength in our Class A products in the marketplace, with gains in both Class A gas and diesel market share. As we enter the slower winter months, however, we remain cautious until we see continued retail growth." Winnebago Industries, Inc ended the previous trading session at $13.09 per share. Analysts covering the company's stock have a consensus price target of $11.00 per share. Winnebago Industries, Inc is a leading U.S. manufacturer of motor homes, which are self-contained recreation vehicles used primarily in leisure travel and outdoor recreation activities. Read more from Benzinga's Company news.