Winnebago Q4 Results Beat View; Board Approves Dividend, Share Buyback

(RTTNews) - Winnebago Industries, Inc. (WGO), a recreational vehicle manufacturer, reported fourth-quarter net income and revenues that beat analysts' estimates.

The company's fourth-quarter net income was $24.9 million or $0.79 per share, up from $13.1 million or $0.49 per share in the year-ago period.

On average, nine analysts polled by Thomson Reuters expected earnings of $0.70 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $454.9 million, an increase of 72.8% from $263.3 million last year. Analysts expected revenues of $441.99 million for the quarter.

Gross profit margin increased 410 basis points, primarily driven by the favorable mix from the accelerated growth in the more profitable Towable segment.

On October 18, 2017, the company's board of directors authorized a share repurchase program in the amount of $70 million, which is approximately 5 percent of the company's market capitalization as of October 18, 2017.

The board also approved a quarterly cash dividend of $0.10 per share payable on November 29, 2017, to common stockholders of record at the close of business on November 15, 2017.