Winnebago Industries (NYSE:WGO) shares moved higher on Thursday as the outdoor lifestyle product manufacturer reported better-than-expected revenue for the first quarter.
The company posted revenue of $625.6 million for the quarter, above estimates of $621.4 million.
A net loss per share of $0.18 compared to earnings per share of $0.78 for the year-ago quarter, but was in line with estimates.
Winnebago CEO Michael Happe warned that, as expected, the RV and marine operating environment remained challenged during the first quarter.
“Our first-quarter results reflected lower unit volumes in our RV segments, start-up costs associated with the Grand Design motorized RV rollout and ongoing product development, and a shift in product mix as we continue to introduce new products that meet the growing consumer preference for lower price-point models,” Happe said.
For fiscal 2025, the company repeated its EPS outlook of $3.10 to $4.40, compared to the consensus of $3.19.
Winnebago continues to expect revenue in the range of $2.9 billion to $3.2 billion against the consensus of $2.95 million.
“We remain confident in our fiscal 2025 guidance,” Happe said.
“Although the first half of the fiscal year comes with its typical seasonality and challenging market conditions, we are prepared to capitalize on the anticipated rise in demand as the RV and marine markets enter the spring selling season.”
Shares of Winnebago added 7.6% on Thursday morning.