Winnebago Industries falls as Q2 profit declines
Shares of Winnebago Industries, Inc. (NYSE:WGO), which makes motor homes and self-contained recreational vehicles, have shifted into lower gear on news before the opening of a decline in fiscal second-quarter profit. The Forest City, Iowa-based company reported that net income for the three months ended March 1 was $2.5 million, or $0.09 per share, a drop of 66.6% compared with $7.5 million, or $0.24 per share, a year earlier.
“Revenue and net income were negatively impacted by fewer motor home deliveries, reduced plant efficiencies due to fewer production days, a switch in mix to more Class C motor homes delivered and increased promotional programs,” said CEO Bruce Hertzke in a statement.
At 1:43 p.m. ET, the stock had shed $1.32, or 7%, to $18.54. For detailed price information and recent news stories about Winnebago Industries, click WGO.
