Brunswick reports Q1 adjusted EPS $1.35, consensus $1.35

Reports Q1 revenue $1.37B, consensus $1.36B. “Our businesses delivered solid results, consistent with expectations, as our continued market share gains, benefits from a wealth of outstanding new products, and comprehensive cost control measures resulted in financial performance in-line with estimates, despite continued economic uncertainty. Our early season internal boat unit retail performance is tracking with our initial outlook of flat to 2023, with boat show results slightly above prior year levels on a unit basis and with a richer mix of premium products. We continue to support retail sales with levels of marketing and promotions appropriate to the environment, while successfully managing field inventory to target levels ahead of the prime selling season. Marine dealers, manufacturers and retailers continue to demonstrate caution with early-season wholesale ordering patterns, resulting in reduced shipment rates across our product businesses as compared to Q1 2023 in which pipelines were being filled. During the quarter, we successfully completed a planned debt issuance of $400M to cover the refinance of our only near-term debt, further solidifying our cash position and balance sheet,” said CEO David Foulkes.