RTTNews | Oct 20, 2021 07:38AM EDT

07:38 Wednesday, October 20, 2021 (RTTNews.com) - Winnebago Industries, Inc. (WGO), an outdoor lifestyle product manufacturer, reported Wednesday significantly higher fourth-quarter results driven by strong end consumer demand. Adjusted earnings and revenues topped market estimates.

In pre-market activity on the NYSE, Winnebago shares were gaining around 2.4 percent to trade at $73.95.

For the fourth quarter, net income was $84.09 million, an increase of 98 percent from $42.46 million in the fourth quarter of last year.

Earnings per share were $2.45, up 96 percent from prior year's $1.25. Adjusted earnings per share were $2.57, compared to $1.45 last year.

On average, eight analysts polled by Thomson Reuters expected earnings of $2.01 per share for the quarter. Analysts' estimates typically exclude special items.

Consolidated adjusted EBITDA was $129.0 million, an increase of 68.6 percent from $76.5 million last year.

Revenues for the fourth quarter were $1.04 billion, up 40.4 percent compared to $737.8 million a year ago. Analysts estimated revenues of $958.33 million for the quarter.

Looking ahead, President and Chief Executive Officer Michael Happe said, "We look forward to continuing our momentum into Fiscal 2022 through a continued focus on quality, service and innovation as well as an expanded portfolio of high-quality outdoor lifestyle products that empower our customers to have extraordinary outdoor experiences as they travel, live, work and play."

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