Winnebago shares slide after quarterly report
** Shares in recreational vehicle company Winnebago Industries WGO.N down 9.6% on Weds, hitting lowest level since early July after reporting fiscal Q4 loss vs year-ago profit
** Stock, on track for biggest one-day pct loss in two years,last traded at $52.48vs session low of $51.19; Wall Street's median PT for stock is $68, according to LSEG
** WGO report of adj. loss/shr of $1.01 compares with Wall St consensus expectation for EPS of $0.89, as per LSEG
** However, rev of $720.9 mln, down 6.5% y/y was ahead of analyst consensus view of $719.14 ahead of report, as per LSEG
** Co said Q4 missed expectations due to sluggish retail demand, operating inefficiencies in Winnebago brand businesses. Also cites RV industry headwinds: uncertain retail conditions, higher inventory carrying costs, slightly elevated motorhome inventories, dealer hesitancy, increased promotional efforts.
** WGO forecast FY 2025 rev of $2.9 billion to $3.2 billion vs 2024 FY rev of $3.0 bln, sees FY adj EPS of $3.00 to $4.50 vs its report of adj EPS of $3.40 for FY 2024
** Co says that while interest rate easing expected to bolster consumer demand into 2H 2025 calendar yr, near-term visibility limited due to potential for economic instability, likelihood of continued industry-wide RV destocking
** YTD shares in WGO down ~28% vs ~2% gain for S&P 600 consumer discretionary index .SPSMCD
(Reporting By Sinéad Carew)
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