Winnebago Reports 9% Drop in Earnings

Winnebago Industries Inc., the largest U.S. maker of motor homes, said second-quarter net income fell 9% on a decline in recreational vehicle shipments. The shares dropped 7%.

Net income fell to $14.4 million, or 42 cents a share, from $15.9 million, or 46 cents, a year earlier, the company said. Winnebago had been expected to earn 53 cents a share, the average estimate of six analysts surveyed by Thomson First Call.

Shares of Forest City, Iowa-based Winnebago fell $2.34 to $32.50 on the NYSE.