Winnebago stock falls despite second-quarter revenues matching first-quarter record
Des Moines Register: Winnebago Industries Inc. on Wednesday reported fiscal second-quarter earnings of $91.2 million on revenue of $1.16 billion, matching the record revenues for the first quarter and exceeding Wall Street expectations of $1.1 billion. It also exceeded expectations with earnings of $3.14 a share. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $3.06 per share. But Winnebago’s stock fell as it missed the forecast for its gross profit margin. It was 18.6%, falling short of the expected 18.9%, Bloomberg reported. The company blamed production inefficiencies related to supply constraints.