Winnebago Industries Q2 Profit Tops Estimates

(RTTNews) - Winnebago Industries, Inc. (WGO) posted a second quarter net loss of $12.7 million, compared to net income of $52.8 million, a year ago. Reported net loss per share was $0.43, compared to profit per share of $1.52. The company noted that its result included charge of $32.7 million, or $1.12 per share, attributable to the refinancing of 2025 convertible senior notes. Adjusted earnings per share was $0.93, a decrease of 50.5% compared to $1.88. On average, 11 analysts polled by Thomson Reuters expected the company to report profit per share of $0.85, for the quarter. Analysts' estimates typically exclude special items.

Second quarter revenues were $703.6 million, a decrease of 18.8% from a year ago, driven by lower unit sales related to market conditions and unfavorable product mix. Analysts on average had estimated $706.45 million in revenue.

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