Financial Data and Key Metrics - Net sales in Q3 2024 were down 20% YoY, with adjusted operating margins just under 10%, resulting in an adjusted EPS of $1.17 [13] - Year-to-date sales were down 19%, with an adjusted diluted EPS of $4.31, down 41% YoY [14] - Free cash flow conversion is expected to be north of 80% for the year, with free cash flow remaining solid despite lower earnings [19] - The company completed $190 million of share repurchases year-to-date [4] Business Segment Performance Propulsion Business - Sales in the propulsion segment were down 32% YoY, with lower production rates at OEM boat manufacturers leading to reduced engine orders [15] - Despite lower wholesale orders, the company gained 420 basis points of U.S. outboard engine market share in Q3 [5] - The engine parts and accessories business achieved record operating margins of 26% in Q3 [5] Navico Group - Navico Group reported a 14% decrease in sales, primarily due to reduced sales to marine OEMs, partially offset by slight international sales growth [16] - The group launched over 20 new products year-to-date, with expectations of operating margin re-expansion in Q4 [7] Boat Business - The boat business saw sales and operating earnings below Q3 2023 levels, consistent with lower planned production levels and fewer manufacturing days [6] - Sales were down 19% YoY, driven by cautious wholesale orders and higher incentives, partially offset by modest model year pricing [17] Freedom Boat Club - Freedom Boat Club delivered steady performance with 3.5% year-to-date membership sales growth and completed the acquisition of the South Florida Franchise Operations [7] Market Performance - U.S. outboard engine industry retail units declined 10% in Q3 2024, with Mercury Marine outperforming the industry at a decline of just 1.8% [11] - The company ended Q3 with 10,700 units in the U.S. pipeline, slightly below the prior year [11] Strategic Direction and Industry Competition - The company is focusing on market share gains and maintaining a fresh product portfolio to position for growth when the market recovers [9] - Brunswick is investing in new products and technologies across all businesses, with over 20 new products introduced by Navico Group year-to-date [7] - The company is expanding its presence in Asia and expects to enter the market soon [7] Management Commentary on Operating Environment and Future Outlook - Management noted that the macroeconomic landscape is stabilizing, with inflation moderating and employment remaining solid, but geopolitical tensions and election-related activities are being monitored [8] - The company expects full-year new boat retail unit sales to be down approximately 10% YoY, in line with expectations [3] - Management anticipates a stronger 2025, with healthier economic conditions, lower interest rates, and potential market share gains [24][25] Other Important Information - The company estimates a full-year operating earnings impact of $5 million to $10 million due to hurricanes in Florida and the Southeastern U.S. [10] - Brunswick has increased its revolving credit facility to $1 billion and expanded its commercial paper program to $1 billion for additional capital flexibility [4] Q&A Session Summary Question: Changes in customer demand and dealer sentiment - Retail demand is pacing as expected, down about 10% YoY, with some weakening in Europe [22] - The company is de-risking the balance of the year by avoiding overstocking pipelines and not pulling wholesale orders into 2024 [23] Question: 2025 outlook and inventory levels - The company expects 2025 to be a growth year, with flat retail sales and potential upside in the marine market [25] - Inventory levels are expected to finish the year in the high 30s in the U.S. and around 40 globally [34] Question: Mercury Marine market share gains - Mercury Marine gained 420 basis points of U.S. outboard engine market share in Q3, with a focus on the 130 basis points year-to-date gain [41] Question: Navico Group performance and outlook - Navico Group is expected to see stability and modest growth in Q4, driven by new product launches [42] Question: Engine parts and accessories business margins - The engine parts and accessories business achieved record operating margins of 26% in Q3, with sustainability expected around 20% for the full year [50] Question: Cost reductions and 2025 expectations - The company has taken out $100 million in costs versus the initial budget, with $30 to $40 million expected to stay out in 2025 [53] Question: Propulsion margins in Q4 - Propulsion margins in Q4 are expected to be lower due to reduced production volumes and absorption challenges [55] Question: International inventory levels - International inventory levels are higher than in the U.S., but the company is managing pipelines similarly to control inventory [58] Question: Dealer inventory preferences - Dealers are collaborating with the company to set inventory levels, with no significant changes expected in long-term weeks on hand [60] Question: Promotional strategy in Q4 - The company is avoiding excessive wholesale pull-forward in Q4 to prevent learned behaviors of waiting for promotions [62]

Brunswick (BC) reported $1.27 billion in revenue for the quarter ended September 2024, representing a year-over-year decline of 20.1%. EPS of $1.17 for the same period compares to $2.42 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.27 billion, representing a surprise of +0.36%. The company delivered an EPS surprise of -0.85%, with the consensus EPS estimate being $1.18.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Brunswick (BC) came out with quarterly earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.18 per share. This compares to earnings of $2.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -0.85%. A quarter ago, it was expected that this boat and sporting goods company would post earnings of $1.90 per share when it actually produced earnings of $1.80, delivering a surprise of -5.26%.Over the last four quarte ...

Brunswick Corporation 26125 N. Riverwoods Blvd., Suite 500, Mettawa, IL 60045 Telephone 847.735.4700 News Release Q3 2024 | --- | --- | |----------|-------------------------------------------------------------------| | | | | Release: | IMMEDIATE | | Contact: | Neha Clark | | | Senior Vice President Enterprise Finance | | Phone: | 847-735-4001 | | Contact: | Lee Gordon | | | Vice President - Brunswick Global Communications & Public Affairs | | Phone: | 847-735-4003 | | Email: | lee.gordon@brunswick.com | Bru ...

METTAWA, Ill., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC), today, released its third quarter 2024 financial results.  A complete and full-text financial results press release is available on the Company’s website at https://ir.brunswick.com.  The results will also be available on the SEC’s website with the Form 8-K filing of the release at http://goo.gl/wJQN1. The Company will hold a conference call at 10 a.m. CT/ 11 a.m. ET, today, Thursday, October 24, 2024, hosted by David M. Foul ...

Wall Street analysts forecast that Brunswick (BC) will report quarterly earnings of $1.18 per share in its upcoming release, pointing to a year-over-year decline of 51.2%. It is anticipated that revenues will amount to $1.27 billion, exhibiting a decline of 20.3% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 1.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of thei ...

Lode Gold Launches Exploration Program at One of the Largest Land Packages in New BrunswickOctober 18, 2024 8:30 AM EDT | Source: Lode Gold Resources Inc.Toronto, Ontario--(Newsfile Corp. - October 18, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold" or the "Company") is pleased to announce that a Heliborne HeliTEM² Survey over the Riley Brook and McIntyre Brook properties, in northern New Brunswick, has been initiated as part of the recently announced Acadian Gold Join ...

Brunswick (BC) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 24. O ...

Core Insights - Brunswick Exploration Inc. reported significant spodumene grain counts in till samples from the Anatacau West Property, indicating strong lithium potential in the area [1][2] - The results suggest the presence of a new unexplored area that could extend the pegmatite trends for several kilometers [1][3] - The company plans to rapidly evaluate next steps to test this promising trend following the encouraging results [1] Group 1: Exploration Results - The summer 2024 till sampling campaign collected 24 samples, with four samples showing high spodumene grain counts of 1,226; 914; 47; and 37 grains normalized to 10 kg [2] - The high grain counts indicate that a significant mineralized trend extends further east on Brunswick's claims, suggesting potential for new near-surface spodumene dykes [3] Group 2: Drilling Campaign and Findings - In 2023, Brunswick conducted a drilling campaign totaling 3,712 meters, identifying several pegmatite dykes with grades up to 1.51% Li2O over 26.5 meters [4] - The drilling did not extend further east due to marshy ground, leading to a drone magnetic survey that indicated the mineralized dykes are within a major deformation corridor [5] Group 3: Project Overview - The Anatacau West Project consists of 13 claims located 2.5 kilometers east of the Trans-Taiga Highway, accessible year-round [5] - The project is part of a larger property package that includes the Anatacau Main project, which has a total of 704 claims covering 37,058 hectares [5] Group 4: Quality Control and Methodology - Till samples were collected from hand-dug pits at depths up to 1 meter, with quality control protocols developed by Brunswick, Inlandsis, and ALS [6] - The samples underwent processing to count spodumene grains, with results normalized to 10 kg of processed till matrix [6]

Lode Gold Closes $3.5 Million Financing and Strategic Alliance; Ready to Advance Properties in Yukon and New BrunswickOctober 09, 2024 12:34 PM EDT | Source: Lode Gold Resources Inc.Toronto, Ontario--(Newsfile Corp. - October 9, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) ("Lode Gold" or the "Company") is pleased to announce it has obtained conditional approval from the TSXV and closed the transaction with Fancamp Exploration Ltd. ("Fancamp") pursuant to the definitive Investme ...