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UPDATE: Briggs & Stratton (BGG) Tops Q3 EPS by 1c, Revenue Light; Offers FY Guidance

April 20, 2017 5:06 PM EDT
(Updated - April 20, 2017 5:08 PM EDT)

Briggs & Stratton (NYSE: BGG) reported Q3 EPS of $0.83, $0.01 better than the analyst estimate of $0.82. Revenue for the quarter came in at $597 million versus the consensus estimate of $617.01 million.

Outlook:

Our outlook for fiscal 2017 remains unchanged from previous guidance, except for higher capital expenditures. Capital expenditures are now expected to be $80 million to $90 million compared to previous guidance of $70 million to $80 million.

Summary of fiscal 2017 guidance:

  • Net sales are expected to be in a range of $1.86 billion to $1.90 billion. We continue to expect that the U.S. residential lawn and garden market will improve by 1% to 4% over the course of the season. Customers have taken a more cautious approach to building inventory for the season as we anticipated. It is possible engine sales may shift beyond the fourth quarter of fiscal 2017 depending on the pace with which the season breaks.
  • Net income is expected to be in a range of $57 million to $64 million or $1.31 to $1.46 per diluted share (prior to the impact of any share repurchases).
  • Operating margins are expected to be approximately 5.5% to 5.8%.
  • The effective tax rate is expected to be in a range of 31% to 33%.

(Street sees FY17 EPS of $1.37 on revenue of $1.86B)

For earnings history and earnings-related data on Briggs & Stratton (BGG) click here.



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