Winnebago's Grand Design acquisition and new management are radically transforming the firm.
Winnebago reported a decent first quarter of fiscal 2018, and we are not changing our investment thesis. This quarter had the highly profitable Grand Design towable business for the full quarter, whereas the year-ago period only had Grand Design for nearly three weeks. Revenue increased 83.5% year over year to $450 million, easily beating consensus of $387.1 million, but only grew 3.8% organically due to softness in motor homes. That division's revenue declined 2.4% due to mix shift issues of mo...Winnebago Industries is a manufacturer with a portfolio of recreation vehicles and marine products used primarily in leisure travel and outdoor recreation activities. The company's reportable segments include: Towable, which is comprised of products which are not motorized and are generally towed by another vehicle as well as other related manufactured products and services; and Motorhome, which is comprised of products that include a motorized chassis as well as other related manufactured products and services. The company's subsidiary, Chris-Craft USA, Inc., manufactures and sells boats in the recreational powerboat industry through a network of independent authorized dealers.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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