METTAWA, Ill., Feb. 20, 2024 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE:BC) and its many industry-leading brands have returned from another record-setting performance at the Miami International Boat Show.  During the five-day event, the Company saw record sales for some of its boat brands, continued strong outboard engine share, and an unprecedented number of awards for its products, brands, and teams. Some of the many notable highlights of the show for Brunswick were: Boston Whaler set an all-time Mi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Brunswick Corporation FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________ to ______________ Commission file number 1-1043 (Exact name of registrant as specified in its charter) | --- | --- | |-------------------- ...

METTAWA, Ill., Feb. 15, 2024 (GLOBE NEWSWIRE) -- The Board of Directors of Brunswick Corporation (NYSE:BC) today declared a quarterly dividend on its common stock of $0.42 per share, an increase of 5% to the current dividend. This marks the twelfth consecutive year of dividend increases. The dividend will be payable on March 15, 2024, to shareholders of record at the close of business on February 26, 2024. "Our business continues to execute on our capital strategy while showing strong operating results whic ...

METTAWA, Ill, Feb. 14, 2024 (GLOBE NEWSWIRE) -- For the sixth consecutive year, Brunswick Corporation (NYSE:BC), the world's largest recreational marine technology company, has been named one of America's Best Large Employers for 2024 by Forbes Magazine. Of the thousands of companies that were surveyed for this recognition, only 600 made the list. "We are honored to once again see Brunswick recognized as one of America's top employers. This award reflects direct feedback from our global workforce of more th ...

MIAMI, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Fliteboard, a brand of Brunswick Corporation (NYSE:BC), and a leader in the eFoil industry, today announced the introduction of Flite AIR and Flite AIR PRO, the most attainable models in the brand's portfolio and a significant milestone for Flite as it continues to appeal to a broader consumer at different price points. Since 2017, Flite has been a leader in water sports through its innovative approach and industry-leading technology. The new Flite AIR and Flite AIR ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Brunswick Corporation (BC) is a recreation products company. The Zacks Consensus Estimate for its current year earnings has been revised 13% downward over the last 60 days.CVR Energy, Inc. (CVI) is an integrated energy company. The Zacks Consensus Estimate for its current year earnings has been revised 9.2% downward over the last 60 days.Coastal Financial Corporation (CCB) is a bank holding company for Coastal Community Bank.The Zacks ...

Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:Brunswick Corporation (BC) is a recreational product manufacturer. The Zacks Consensus Estimate for its current year earnings has been revised 11.3% downward over the last 60 days.Chevron Corporation (CVX) is an integrated energy and chemicals company. The Zacks Consensus Estimate for its current year earnings has been revised 10.4% downward over the last 60 days.The Container Store Group, Inc. (TCS) is an organizing solutions company ...

Financial Data and Key Metrics Changes - Brunswick reported full year net sales of $6.4 billion and adjusted earnings per share (EPS) of $8.80, slightly below guidance due to softened wholesale customer ordering patterns [5][14] - Free cash flow for the year was outstanding at $473 million, with a conversion rate of 76% [5][14] - Q4 net sales decreased by 14% compared to the previous year, with adjusted EPS down 27% to $1.45 [14][15] Business Line Data and Key Metrics Changes - The Propulsion business experienced a 12% revenue decline in Q4 2023, primarily due to cautious OEM ordering patterns, but operating margins increased by 110 basis points [15][18] - Engine Parts and Accessories sales were flat year-over-year in Q4, with the high-margin Products business growing by 3% [17][70] - Navico Group reported a 17% decrease in sales due to softer marine OEM orders and a weak RV manufacturing environment [18] Market Data and Key Metrics Changes - The U.S. new boat market is expected to finish down mid-to-high single digits, with Brunswick brands outperforming in many segments [5][12] - Overall boat retail sales are trending slightly above 2023, with January unit sales typically being a small contribution to the year [9][12] - The outboard engine industry retail units increased by 1% in Q4, with Mercury gaining market share [13] Company Strategy and Development Direction - Brunswick continues to focus on its ACES strategy, emphasizing operational efficiency, new product launches, and cost control [4][20] - The company plans to maintain market share gains in outboard engines and premium boat categories while managing costs effectively [23][24] - Brunswick is actively managing its inventory levels and expects to end 2024 with lower inventory than in 2023 [41][43] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for Q1 2024 due to continued cautious ordering patterns from OEMs and retailers [33][35] - The company anticipates a potential recovery in orders as the main selling season approaches, with early signs of improved retail performance [34][35] - Management remains focused on driving earnings and free cash flow while navigating a challenging macroeconomic environment [20][21] Other Important Information - Brunswick executed $275 million in share repurchases and increased its dividend for the 11th consecutive year [20][25] - The company ended 2023 with $480 million in cash and plans to be active in share repurchases in 2024 [19][25] - Brunswick launched over 15 new products in early 2024, indicating a strong commitment to innovation [27][28] Q&A Session Summary Question: Can you rank the topline drivers by segment and provide visibility for improvement? - Management noted that reduced demand from marine OEMs impacted wholesale orders, but expects orders to normalize as the main selling season approaches [31][32] Question: What is the outlook for inventory levels? - Management expressed confidence in their inventory management, planning to end 2024 with slightly lower inventory levels than in 2023 [40][43] Question: How does the 2024 guidance compare to previous recession scenarios? - Management highlighted that the current guidance reflects a more stable macro environment, with potential for a quicker recovery if interest rates decrease [44][46] Question: What are the drivers behind the expected decline in Propulsion margins? - The decline is attributed to lower volume absorption, increased tariffs, and elevated input costs, despite positive pricing trends [50][51] Question: What has gone well and not well with the Navico acquisition? - Management believes Navico is a strategic asset, but has faced challenges due to market downturns and destocking [64][66]

Q4 2023 Earnings Conference Call BRUNSWICK CORPORATION –EARNINGS RELEASE Forward-Looking Statements Certain statements in this presentation are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick’s business and by their nature address matters that are, to different degrees, uncertain. Words such as “may,” “could,” “should,” “expect,” "anticipate," "project," "po ...

For the quarter ended December 2023, Brunswick (BC) reported revenue of $1.36 billion, down 14% over the same period last year. EPS came in at $1.45, compared to $1.99 in the year-ago quarter.The reported revenue represents a surprise of -5.17% over the Zacks Consensus Estimate of $1.44 billion. With the consensus EPS estimate being $1.66, the EPS surprise was -12.65%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expec ...