Brunswick reports Q3 earnings miss, cuts full-year outlook

METTAWA, Ill. - Brunswick Corporation (NYSE:BC ) reported third-quarter earnings that fell short of analyst expectations and lowered its full-year guidance, citing challenging market conditions.

The marine recreation company posted adjusted earnings per share of $1.17 for the quarter, missing the analyst consensus of $1.20. Revenue came in at $1.27 billion, below the $1.3 billion estimate and down 14.6% YoY from $1.49 billion in the same quarter last year.

Brunswick also cut its full-year 2024 outlook, now expecting earnings per share of $4.50, well below the previous analyst consensus of $5.23. The company forecasts full-year revenue between $5.1 billion and $5.2 billion, down from the prior $5.299 billion estimate.

The reduced guidance reflects a more cautious view on consumer discretionary spending and marine industry trends for the remainder of the year. Brunswick noted it is taking actions to align production with retail demand and manage inventory levels.

Despite the earnings miss and lowered outlook, Brunswick emphasized its strong market position and continued focus on innovation across its portfolio of marine brands. The company said it remains committed to its long-term strategy of expanding its presence in the marine recreation market.

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Source: Investing.com