Winnebago Industries’ Q3 2019 earnings
American RV manufacturer Winnebago Industries (WGO) released its third quarter of fiscal 2019 earnings report before the market opened on June 19. In the third quarter of fiscal 2019, the company reported adjusted EPS of $1.14, up 11.8% as compared to its adjusted EPS of $1.02 in the third quarter of fiscal 2018.
WGO beats Wall Street’s estimates
Wall Street analysts were expecting the company to report EPS of $0.99 in the last quarter. Note that Winnebago’s third quarter of fiscal 2019 refers to the three months ended May 25, 2019. Before we move on to take a look at other key highlights of Winnebago’s third-quarter earnings, let’s find out how investors reacted to its earnings report.
Winnebago stock rallied
After the company released its third-quarter results, investors reacted positively, which fueled a rally in its stock. On Wednesday, Winnebago stock settled a $40.00 with 3.7% day gains. During the session, the stock posted a day high of $40.90, its highest level since July 2018.
Despite the company’s lower-than-expected revenue and the YoY sales decline, its better-than-expected bottom line and EPS boosted investors’ confidence and drove its stock higher.
In 2019 so far, Winnebago stock has outperformed the broader market by a wide margin. As of yesterday’s closing, it was trading with 65.2% year-to-date gains as compared to a 16.7% rise in the S&P 500 Index and the Dow Jones Index’s 13.6% gains.
In June alone the company has surged by 24.5%, while the S&P 500 benchmark has just gone up by 6.3%.