Brunswick (BC) Tops Q1 EPS by 1c; Lowers Bottom-End of FY EPS Forecast

Brunswick (NYSE: BC) reported Q1 EPS of $0.71, $0.01 better than the analyst estimate of $0.70. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.07 billion.

GUIDANCE:

Brunswick sees FY2016 EPS of $3.35-$3.50, versus prior guidance of $3.40-$3.50 and the consensus of $3.46.

“Our reported first quarter revenues increased by 9 percent, or 10 percent on a constant currency basis,” said Brunswick Chairman and Chief Executive Officer Mark Schwabero. “Our top line reflected strong growth rates in our fiberglass outboard boats and marine parts and accessories businesses. This growth was supplemented by another solid performance in outboard engines, as well as benefits from our acquisition strategy.

“Our performance in the first quarter reflected continued successful execution of our growth strategy, including our focus on product leadership and the associated market share gains,”Schwabero continued. “Although it is still early in the marine season, initial marine market data indicates a healthy U.S. marketplace, which is consistent with our assumptions entering the year. Demand in non-U.S. markets remains mixed and we continue to closely monitor and plan to manage through any challenging conditions.

“We are making excellent progress integrating Cybex into our Fitness segment and are already starting to see the benefits of combining these commercial fitness equipment leaders.

“Adjusted operating earnings increased by 13 percent compared to the prior year quarter. The improvement in operating earnings, combined with a lower effective tax rate and fewer shares outstanding, led to a 20 percent increase in diluted earnings per common share, as adjusted,” Schwabero concluded.

For earnings history and earnings-related data on Brunswick (BC) click here.

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