Brunswick reports Q1 adjusted EPS 56c, consensus 22c

Reports Q1 revenue $1.22B, consensus $1.14B. “All of our businesses delivered a strong first quarter as the resilient composition of our portfolio, together with proactive pipeline management, well-received new products, the benefits of executed and ongoing structural cost reduction measures, and efficient execution resulted in Q1 financial performance ahead of expectations despite the challenging macro environment,” said CEO David Foulkes. “…Our Q1 results again demonstrated the resiliency of our portfolio, with our recurring revenue businesses and channels, including our Engine P&A business, Propulsion’s repower business, Freedom Boat Club, and Navico Group’s aftermarket sales, contributing nearly 60% of our Q1 adjusted operating earnings. In addition, our businesses delivered strong cash flow and we completed $26M in share repurchases in the quarter, maintaining our commitment to return value to shareholders”.