Loading...
Loading...
- Brunswick Corp BC reported Q1 2023 sales growth of 3% year-on-year, to $1.74 billion, beating the consensus of $1.71 billion.
- Segment Sales: Propulsion increased 7% Y/Y, Engine Parts and Accessories fell 13%, Navico Group was down 11% Y/Y and Boat climbed 17%.
- Selling, general and administrative expenses rose 10% Y/Y to $211.3 million.
- Adjusted operating margin was 15.0%, and adjusted operating income for the quarter fell 2% Y/Y to $262.4 million.
- The company held $399.7 million in cash and marketable securities as of Q1 2023. Net cash used for operating activities of continuing operations was $(14.5) million.
- Adjusted EPS of $2.57 beat the analyst consensus of $2.38.
- The company repurchased shares worth $60 million and paid dividends of $28.5 million.
- Outlook: Brunswick reiterated guidance for 2023 sales of $6.8 billion - $7.2 billion (vs. consensus of $6.98 billion) and adjusted EPS of $9.50 - $11.00 (vs. consensus of $10.27).
- The company expects share repurchases of above $200 million in 2023.
- It sees Q2 net sales flat to slightly up Y/Y and adjusted EPS of $2.60 - $2.70 (vs. consensus of $3.03).
- Price Action: BC shares are trading lower by 0.61% at $82.57 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in