WGO - Is Winnebago Stock a Buy Now?
2023-06-27 05:25:00 ET
Investors had high expectations for Winnebago 's (NYSE: WGO) latest earnings report despite weak demand trends in the recreational vehicle (RV) industry. The stock, along with that of rival Thor Industries (NYSE: THO) , has outpaced the market's rally so far in 2023 on signs of progress at reducing inventory and continued positive profits.
The mid-June quarterly announcement showed more positive momentum on these points, but a full recovery might still be far off for the RV business. So let's look at whether the stock is a buy right now.
Winnebago's fiscal third quarter showed some painful impacts from the ongoing cyclical pullback in the RV industry. After several years of rising demand, sales volumes are slumping from the combination of slower consumer spending and rising financing costs. Revenue fell 38% through late May, declining to $900 million from $1.5 billion a year earlier.
For further details see:
Is Winnebago Stock a Buy Now?