- Winnebago Industries Inc (NYSE:WGO) reported third-quarter FY22 sales growth of 52% year-on-year, to $1.46 billion, beating the consensus of $1.20 billion.
- Towable segment revenue grew 45% Y/Y to $805.6 million, driven by pricing increases and solid unit growth due to a strong dealer order backlog.
- Motorhome revenue of $516.3 million increased 34% Y/Y. Marine segment revenue jumped 637% Y/Y to $126.5 million.
- Gross profit increased 60.9% Y/Y to $273 million, and gross profit margin expanded 100 basis points Y/Y to 18.7%.
- The operating margin expanded 140 basis points to 12.1%, and operating income for the quarter rose 72.5% to $176.7 million. Adjusted EBITDA increased 74.7% to $191.7 million.
- Adjusted EPS of $4.13 beat the analyst consensus of $2.96.
- Winnebago's cash and equivalents totaled $238.1 million as of May 28, 2022, and it generated $245.2 million in operating cash flow for nine months ending May 28, 2022.
- "We expect supply chain inconsistencies and inflation pressures to continue in the fourth quarter, and into our fiscal 2023...," said CEO Michael Happe.
- Price Action: WGO shares are trading lower by 0.26% at $45.64 on the last check Wednesday.
