Recreational vehicles maker Winnebago Industries Inc (NYSE:WGO) saw revenues from its motorised RVs decline in the second-quarter, but towable vehicle revenues rose and its overall earnings and sales beat forecasts.
The Iowa-based firm said motorised revenues for the quarter to February 25 were down 3% to US$198.9mln as a 5.2% decline in average selling prices offset a 3.6% rise in unit deliveries.
Winnebago’s motorised business represented about 80% of total revenues.
But revenues from the group’s Towables business rose by 14% to US$171.6mln, boosted again by the acquisition of Grand Design RV that was completed during the first quarter.
Overall Winnebago’s second-quarter revenues increased by 64% to US$370.5mln, up from US$225.7mln a year earlier, and above forecasts for US$338.4mln.
Second-quarter earnings were US$15.3mln, or 48 US cents a share, beating estimates for 44 US cents, and up from US$9.4mln, or 35 US cents a share in the same period a year ago.
In early US trading, Winnebago shares were 0.6% higher at US$28.05.