Winnebago Q1 Earnings Rise, Top Estimates

(RTTNews) - Winnebago Industries, Inc (WGO), a maker of recreational vehicles, Thursday reported a rise in earnings for the first quarter that beat analysts' estimates. The company chiefly attributed the growth in earnings to improved pricing and strong demand for new products, together with better margins.

Winnebago's earnings increased by 50.8 percent to $11.1 million, or $0.40 per share, from $7.4 million, or $0.26 per share, a year earlier. On average, four analysts polled by Thomson-Reuters estimated the company's earnings to be $0.37 for the quarter. Analysts' estimates typically exclude one-time items.

Randy Potts, president and CEO, said, "New product entries in both motorized and towable categories displayed at the recent National RV Show in Louisville, KY were very well received, with the Winnebago Trend named as a "2014 Top RV Debut" by RV Business Magazine."

For the 3-month period, revenue increased to $222.7 million from $193.6 million a year earlier. Analysts had estimated revenue to be $233.10 million.

Wednesday, the stock closed at $31.64 on the NYSE.