Third-quarter earnings for Forest City-based Winnebago Industries are down slightly compared to last year, but are still ahead of projections. Winnebago reports net income slipped to 17-point-six million dolllars. That’s down from 17-point-seven million a year ago. Chairman and C-E-O Bruce Hertzke says he’s glad the company was able to beat analysts’ expectations. Analysts had expected Winnebago to drop to 49-cents a share due to the industry showing signs of weakness, but they did reach 52-cents. Hertzke says there are a number of factors hurting motor home sales. He points to high and fluctuating gasoline prices and rising interest rates. Despite earnings for the fiscal year being off two-million dollars compared to last year, Hertzke says there’s nothing to worry about, especially since it’ll be tough to top last year’s all-time record figures. He says some “corrections” need to be made to keep the inventory in line as dealers make their adjustments. Still, Hertzke says the company is performing very well and this will be the second-best year in its 48-year history. He says unless there’s a big turnaround, Winnebago will not top its record haul last year. Winnebago is looking for a strong fourth quarter, led by the introduction of the new Winnebago View and Itasca Nation motor homes.
Iowa's Radio News Network
