Brunswick’s Q3 net sales down 5.7%
> Subscriber-only, By Arlene Sloan2019-10-24T15:35:00
US-based Brunswick Corporation reported financial results through the end of September showing anticipated declines in top-line revenues, but exceeding earnings expectations
US-based Brunswick Corporation reported financial results through the end of September which largely met expectations for declines in top-line revenues, but yielded improved earnings of $1.10 per share, beating analyst expectations of $0.99. The company has surpassed consensus EPS estimates three times over the last year and since the beginning of the year its share prices have climbed nearly 24% versus the S&P 500’s rise of 19.9%.
The Group’s Q3 revenues dropped -5.7% to $977 million compared to the same period last year (on a comparable, ex-acquisition basis), while year-to-date consolidated revenues grew 2% to $977 million (but down -1% on a constant currency, ex-acquisition basis).
The engine segment of the business was down -2% YTD due to lower sales of sterndrive engines, lower volumes primarily in the lower horsepower categories, partially offsest by higher horsepower engine sales and the positive addition of Power Products.
Revenues in Brunswick’s boat segment slipped by -3% compared to the same 9-month period in 2018. The company noted that slight sales gains in fiberglass boat segments were offset by planned reductions in saltwater fishing, pontoons, and value aluminum products – responding to softer demand in the first half of the year.
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