Winnebago Q3 Profit Climbs On Strong Revenue Growth - Quick Facts

(RTTNews) - Winnebago Industries, Inc. (WGO), a recreational vehicle manufacturer, reported Wednesday that its third-quarter net income was $19.4 million or $0.61 per share, an increase of 34.3% from last year's $14.4 million, or $0.53 per share.

The results included certain significant items, including amortization expenses of $0.21 per share.

On average, five analysts polled by Thomson Reuters expected earnings of $0.72 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the third quarter were $476.4 million, an increase of 75.1% from $272.1 million last year. Analysts expected $440.94 million for the quarter.

Revenues for the Motorized segment were $241.7 million, down 2% from the previous year. Revenues for the Towable segment surged with the addition of revenue from the Grand Design acquisition.

Consolidated adjusted EBITDA was $47.3 million, an increase of 167.2%. Gross profit grew 134 percent to $70.8 million, and gross profit margins expanded 380 basis points driven by a favorable product mix, including the addition of Grand Design products within the overall sales mix.

Operating income was $34.9 million, an improvement of 69.3%.

Looking ahead, President and Chief Executive Officer Michael Happe, said, "As we head into the final quarter of Fiscal 2017, we remain optimistic about the ongoing growth of the RV industry."