LONDON, UK / ACCESSWIRE / July 12, 2018 / If you want access to our free earnings report on Winnebago Industries, Inc. (NYSE: WGO) ("Winnebago"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=WGO. Winnebago reported its third quarter fiscal 2018 operating and financial results on June 20, 2018. The recreational vehicle maker blew past top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

Winnebago's revenues for the fiscal 2018 third quarter ended May 26, 2018, were a record $562.3 million, reflecting an increase of 18.0% compared to $476.4 million for Q3 FY17. The Company's reported numbers beat analysts' estimates of $542.4 million.

During Q3 FY18, Winnebago's gross profit jumped 20.8% to $85.5 million compared to $70.8 million for Q3 FY17. The Company's reported quarter gross profit margin was 15.2%, representing an increase of 30 basis points (bps) versus 14.9% in the year earlier corresponding quarter, driven by the continuation of accelerated growth in the Towable segment.

For Q3 FY18, Winnebago' operating income surged 38.5% to $48.3 million compared to $34.9 million in Q3 FY17.

Winnebago's net income was $32.5 million, or a record $1.02 per diluted share, for Q3 FY18 compared to earnings of $19.4 million, or $0.61 per diluted share, in Q3 FY17. During the reported quarter, the Company utilized a portion of its tax reform benefit for employee bonuses and making a contribution to its foundation, leading to a one-time expense of $3.4 million, or $0.11 per share, net of tax. The Company's earnings outpaced Wall Street's estimates of $0.91 per share.

For Q3 FY18, Winnebago's consolidated adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) was $53.4 million, up 12.7% compared to $47.3 million in Q3 FY17, driven by strong Towable segment's revenue and profit growth.

Winnebago Industries' Segment Results

During Q3 FY18, the Motorized segment revenues jumped 3.1% to $249.2 million on a y-o-y basis. The segment's adjusted EBITDA was $9.3 million, down 36.0% on a y-o-y basis, while adjusted EBITDA margin was 3.7%, reflecting a drop of 230 basis points (bps) compared to the year ago corresponding quarter. The margin impact of the one-time tax reform reinvestments earlier was dilutive to adjusted EBITDA by 120 bps in Q3 FY18.Motorized segment's Backlog increased 31.4% on a y-o-y basis, reflecting the strength of the Company's recently introduced products.

Winnebago's revenues for the Towable segment surged 33.4% to $313.0 million on a y-o-y basis, driven by strong organic growth across the Grand Design RV and Winnebago-branded product lines. In the reported quarter, the segment's adjusted EBITDA was $44.0 million, up 34.4% on a y-o-y basis, while adjusted EBITDA margin was 14.1%, reflecting an increase of 10 bps, driven by higher volumes and a favorable product mix. The margin impact of the one-time tax reform investments was dilutive to adjusted EBITDA by 60 bps in Q3 FY18.

Towable segment's Backlog remained strong at approximately 10,000 units, growing 15.1% on a y-o-y basis, while retail sales continue to yield market share gains by outpacing the industry for both brands.

Cash Matters

As of May 26, 2018, Winnebago had total outstanding debt of $251.8 million ($260.0 million of debt, net of debt issuance costs of $8.2 million) and working capital of $183.4 million. The Company's cash flow from operations was $61.0 million for the nine months ended May 26, 2018. Winnebago's ratio of net debt to adjusted EBITDA was 1.2x as of May 26, 2018. The Company repurchased $5 million worth of stock in the reported quarter.

Stock Performance Snapshot

July 11, 2018 - At Wednesday's closing bell, Winnebago Industries' stock fell 2.25%, ending the trading session at $41.35.

Volume traded for the day: 287.12 thousand shares.

Stock performance in the last month ' up 0.12%; previous three-month period ' up 13.13%; and past twelve-month period ' up 21.26%

After yesterday's close, Winnebago Industries' market cap was at $1.31 billion.

Price to Earnings (P/E) ratio was at 13.26.

The stock has a dividend yield of 0.97%.

The stock is part of the Consumer Goods sector, categorized under the Recreational Vehicles industry.

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