Winnebago's Stock Soars Toward 12-year High After Profit, Sales Beat Expectations

By Tomi KilgoreMarketsMarketWatch Pulse

Shares of Winnebago Industries Inc. surged 4.8% toward a 12-year high in premarket trade Wednesday, after the recreational vehicle seller beat fiscal first-quarter profit and sales expectations. Earnings for the quarter to Nov. 26 rose to $11.7 million, or 42 cents a share, from $8.6 million, or 32 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 36 cents. Revenue increased to $245.3 million from $214.2 million, above the FactSet consensus of $229 million. "We successfully completed the acquisition of Grand Design, significantly expanding our penetration within the fast-growing towable market and creating a broader and more balanced portfolio well-positioned to capitalize on the opportunities across the RV market," said Chief Executive Michael Happe. The stock has soared 87% year to date through Tuesday, while the S&P 500 has gained 11%.

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