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 ...

Core Viewpoint - Brunswick Corporation has released its fourth quarter and full year 2023 financial results, highlighting its position as a leader in marine recreation and innovation [1][3]. Financial Results - The financial results for the fourth quarter and full year 2023 are available on the company's website and will be filed with the SEC [1]. - A conference call to discuss these results is scheduled for February 1, 2024, at 10 a.m. CST/11 a.m. EST [1]. Company Overview - Brunswick Corporation is recognized as the global leader in marine recreation, offering technology-driven solutions and a diverse portfolio of over 60 industry-leading brands [3]. - The company operates in 25 countries with more than 17,000 employees and has been acknowledged by Forbes and Newsweek for its employer reputation and corporate responsibility [3].

Core Insights - Freedom Boat Club achieved a significant milestone by delivering over 600,000 member boating trips globally in 2023, indicating strong strategic growth and expansion in key boating markets [1][2]. Company Overview - Freedom Boat Club, a subsidiary of Brunswick Corporation, operates as the world's oldest and largest boat club with over 400 locations across 34 U.S. states, Canada, the UK, Europe, and Australia [3]. - The company focuses on expanding marine participation through a subscription-based boating model, aiming to enhance member experiences and attract new boaters [2][3]. Brunswick Corporation Overview - Brunswick Corporation is recognized as a global leader in marine recreation, offering innovative solutions that enhance water experiences and operates over 60 industry-leading brands [4]. - The company has received multiple accolades, including being named one of the World's Best Employers by Forbes and one of America's Most Responsible Companies by Newsweek for four consecutive years [4].

Core Insights - Brunswick Corporation has launched 15 new products across its brands at major global trade shows early in 2024, showcasing its commitment to innovation and market leadership [1][3][4] - Mercury Marine introduced the 75e and 110e electric outboard models, expanding its Avator lineup to five models, and also unveiled a new 9.9hp Pro Kicker conventional outboard [1] - Simrad debuted the NSX ULTRAWIDE multi-function display on Sea Ray boats, available in 12-inch and 15-inch sizes, and will be featured at upcoming major shows [2] - Sea Ray launched the SDX 270 and SDX 270 Surf models, the latter being the first to feature the innovative forward-facing drive and surf control system developed with Mercury Marine [2] - Princecraft and Harris pontoon brand introduced new models, with Harris's Crowne 250 winning an NMMA Innovation Award [3] - Brunswick continues to receive industry accolades, including the 2023 European Powerboat of the Year award for the Sea Ray SLX 260 [3] - Freedom Boat Club is expanding with new locations in Spain, marking its 14th and 15th locations in the country [4] - Brunswick will discuss its new product launches during its 2023 Full Year and Fourth Quarter earnings call on February 1 [4] Company Overview - Brunswick Corporation is a global leader in marine recreation, focusing on innovation and technology-driven solutions [5] - The company operates over 60 industry-leading brands in marine propulsion, parts, accessories, and boat manufacturing [5] - Brunswick has more than 18,000 employees across 25 countries and has received multiple awards for being a top employer and responsible company [6]

METTAWA, Ill., Jan. 15, 2024 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE:BC) will release its fourth quarter and full year 2023 financial results on Thursday, February 1, 2024 before the market opens by way of an advisory release, notifying the public that the complete and full-text results will be 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 ...