Jun 16, 2011
Winnebago Industries (NYSE:WGO) reported Q3 EPS of $0.04 today, below the consensus estimate for $0.13 per share. Revenues for the quarter were essentially flat year-over-year, edging up 0.5% to $135.57 million, well below the consensus estimate for $151.43 million.
Bob Olson, Winnebago Industries' Chairman and CEO said, "The retail market for motor homes softened during our third Fiscal quarter, adding to our disappointment with the level of industry retail sales thus far in Calendar 2011 compared with the prior year. While discouraging, it is understandable in the context of new job creation slowing in America, along with reports of falling home prices, declining auto sales, weaker consumer spending, the concern over rising fuel prices and the impact these issues are currently having on the stock market. We remain concerned the current recovery appears to be slowing."
Winnebago Industries has a potential upside of 33.3% based on a current price of $11 and an average consensus analyst price target of $14.67.
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