Recreation Products Maker Winnebago Struggles In Q3 With Lower Earnings, But New Product Launches Offer Hope: Details
Portfolio Pulse from Nabaparna Bhattacharya
Winnebago Industries, Inc. (NYSE:WGO) reported lower-than-expected Q3 earnings and revenues, leading to a 2.45% drop in share price. Despite the challenges, the company is optimistic about new product launches in the upcoming quarter.
June 20, 2024 | 1:56 pm
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Winnebago Industries reported Q3 earnings per share of $1.13, missing the street view of $1.34. Revenues fell 12.7% year over year to $786.0 million, missing the analyst consensus of $806.13 million. Gross profit and operating income also saw significant declines. Despite these challenges, the company is optimistic about new product launches in Q4.
The company's Q3 earnings and revenues missed analyst expectations, leading to a decline in share price. However, the announcement of new product launches in Q4 provides a potential growth opportunity, which could mitigate some of the negative impact in the short term.
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