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UPDATE: Winnebago profit tops estimates but revenue falls short

Ciara Linnane

Winnebago Industries Inc. said Monday it had net income of $21.6 million, or 68 cents a share, in its fiscal second quarter to Feb. 23, down from $22.1 million, or 69 cents a share, in the year-earlier period. Revenue fell to $432.7 million from $468.4 million. The FactSet consensus was for EPS of 60 cents and revenue of $459 million. Motorhome revenue fell 17.3% to $164.7 million, while revenue for towables fell 5.9% to $250.7 million. "While the RV industry has been challenged over the past 6 months, we believe the wholesale shipment and retail sales equation will approach a new equilibrium during our fiscal Q3," Chief Executive Michael Happe said in a statement. Shares swung between gains and losses premarket, but were last up 9.5%. The stock has fallen 20% in the last 12 months, while the S&P 500 has gained 8%.