Winnebago (NYSE:WGO) swung to a fiscal fourth-quarter profit on Thursday that blew away Wall Street’s expectations, driving a 9% surge in the RV maker’s share price.
The Forest City, Iowa-based company said it earned $4.9 million, or 17 cents a share, in the quarter ended Aug. 28. A year earlier, it lost $50.2 million, or $1.73 a share. Analysts had been projecting EPS of just 5 cents a share.
Revenue surged 107.1% to $123.1 million.
“Increased motor home delivery volume continues to be a driving force behind our improved results, however, we remain cautious until we see continued retail growth,” CEO Bob Olson said in a statement.
Winnebago said dealer inventory jumped 20.7% and demand has remained at a “consistent level” since its fiscal second quarter.
The stronger-than-expected results sparked an 8.68% rise in Winnebago’s stock to $12.14 in Thursday’s premarkets. The stock had been down 8.4% on the year as of Wednesday’s close.