Winnebago(US:WGO) ZACKSยท2024-06-21 13:45Core Insights - Winnebago Industries reported adjusted earnings of $1.13 per share for Q3 fiscal 2024, missing the Zacks Consensus Estimate of $1.30 and reflecting a 46.9% year-over-year decline [1] - The company's revenues for the quarter were $786 million, also missing the Zacks Consensus Estimate of $800 million and down 12.7% year over year [1] Segmental Performance - Towable RV: Revenues increased by 0.6% year over year to $386.3 million, driven by a rise in unit volume, but missed the estimate of $388.9 million. Total deliveries were 9,263 units, up 6.3% year over year, exceeding the estimate of 8,667 units. Adjusted EBITDA declined 22% to $41.9 million, although it surpassed the estimate of $31.8 million. The segment's backlog was $153.1 million (4,734 units), down 35.1% [2] - Motorhome RV: Revenues fell 20.1% year over year to $299 million due to decreased unit volume and high discounts, missing the estimate of $357.9 million. Total deliveries were 1,680 units, down 21.2% year over year, and also missed the estimate of 1,927 units. Adjusted EBITDA was $13.4 million, down 50.2%, missing the estimate of $21.3 million. The backlog was $354.9 million (1,596 units), down 55.7% [3] - Marine: Revenues decreased 31.8% year over year to $87.9 million, primarily due to lower volume, and missed the estimate of $89 million. Total deliveries were 1,127 units, down 28.9% year over year, but exceeded the estimate of 1,082 units. Adjusted EBITDA was $8.5 million, down 50.9% year over year, but beat the estimate of $7.5 million. The backlog for the Marine segment was $62 million (642 units), down 57.6% [4] Financials - As of May 25, 2024, Winnebago had cash and cash equivalents of $318.1 million. Long-term debt increased to $636.4 million from $592.4 million as of August 26, 2023. The company approved a dividend of 31 cents per share, payable on June 26, 2024, to shareholders of record as of June 12, 2024 [5]