NEWS RELEASES
Editor's Note: This news item was retrieved and first published through Star Tribune's website.
10% of the recreational vehicle industry is now controlled by Winnebago, reaching a goal it set two years ago. Acquiring luxury RV maker Newmar boosted the company's third-quarter revenue 19% to $588.5 million over the same period last year. Revenue for Winnebago was $225.9 million, up 25% from the year ago quarter, thanks to the addition of Newmar.
Patrick Kennedy of the Star Tribune relays in his article, "Adjusted EPS, which excludes transaction costs, inventory adjustments and certain interest expenses, was 73 cents per share — a 4% increase over the first quarter last year." Winnebago officially acquired Newmar Corp. in November in time to recognize three weeks' worth of Newmar's results. Revenue for the Winnebago grew 5% in the first quarter, excluding Newmar. Shares of Winnebago closed Friday at $51.94, up nearly 8%. Year-to-date shares are up 115%, and it is the second-best performing Minnesota-based stock this year.
To read more on Winnebago, visit here.