UPDATE 1-Winnebago beats estimates, and weather, in second quarter

Thu Mar 27, 2014 7:57am EDT

(Adds details, estimates, shares)

March 27 (Reuters) - Winnebago Industries Inc, the largest U.S. motorhome maker, reported a better-than-expected 53 percent jump in profit as it sold more motorhomes to dealers in a quarter marked by storm-related disruptions to transportation and businesses.

The company's total motorhome deliveries rose 45 percent to 2,055 units in the second quarter ended March 1, while trailer shipments rose 5 percent to 575.

"We achieved strong results for the quarter, notwithstanding challenges associated with the severe winter weather," Chief Executive Randy Potts said in a statement. (r.reuters.com/byd97v)

Storms and colder-than-usual weather hit many businesses in North America during December and January.

Winnebago's results contrast those of rival Thor Industries , which blamed the weather for its lower-than-expected revenue in the second quarter.

Winnebago's net income rose to $9.6 million, or 35 cents per share, in the quarter from $6.3 million, or 22 cents per share, a year earlier.

Revenue rose 29 percent to $228.8 million.

Analysts on average had expected a profit of 30 cents per share on revenue of $199.6 million, according to Thomson Reuters I/B/E/S.

Winnebago, which sells motorhomes under the Winnebago, Itasca and Era brands, said its order backlog rose 5.4 percent to 2,900 motorhomes in the quarter.

The company's shares closed at $26.60 on the New York Stock Exchange on Wednesday.

The stock has fallen 16 percent since Winnebago reported its first-quarter earnings on Dec. 19. (Reporting by Mridhula Raghavan and Ankit Ajmera in Bangalore; Editing by Kirti Pandey)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.