Winnebago Industries Q2 Profit Declines - Quick Facts

(RTTNews) - Recreation vehicle manufacturer Winnebago Industries, Inc. (WGO) Thursday said second-quarter net income dropped to $8.1 million, or $0.30 per share, from $9.6 million, or $0.35 per share, in the same period last year.

On average, six analysts polled by Thomson Reuters expected earnings of $0.38 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues improved to $234.54 million from $228.81 million in the previous year. Analysts expected revenues of $253.26 million.

Operating expenses increased to $12.31 million from $8.81 million in the prior year.

CEO and President Randy Potts said, "During the second quarter, we grew revenues and improved gross profit margin despite continuing to work through the labor-related constraints and challenges we saw last quarter."

The company's board of directors approved a quarterly cash dividend of $0.09 per share payable on May 6, to common stockholders of record at the close of business on April 22.