Brunswick to release 2Q earnings

Posted on

Brunswick will hold a conference call at 11 a.m. EDT July 24 to discuss its second-quarter financial results, which will be released before the market opens. Meanwhile, analysts from Wachovia Capital Markets reduced their earnings estimates for Brunswick for 2008 and 2009.

Wachovia now expects Brunswick to report a loss of 73 cents a share in 2008 and earnings of 10 cents a share in 2009. This compares to previous estimates of 50 cents a share and $1.10 a share for 2008 and 2009, respectively. The downward revisions are related to recently announced restructuring charges of $125 million to $145 million through 2009, and from lower assumed revenues and higher overhead.

“We believe additional ’08 restructurings — marine asset impairments, plant closures, brand consolidation — are likely,” said Tim Conder, managing director of leisure equity research for Wachovia, in a report released today.

“We believe it will now be [second quarter of 2009] before initial evidence could emerge that the U.S. retail marine market is stabilizing,” Conder reported. “Until then, [Brunswick] shares are unlikely to see any demand-related upward catalyst.”

The conference call will be hosted by Dustan E. McCoy, chairman and CEO; Peter G. Leemputte, senior vice president and chief financial officer; and Kathryn J. Chieger, vice president of corporate and investor relations.

The call will be broadcast over the Internet at www.brunswick.com. Security analysts and investors wishing to participate via telephone should call (888)-577-8991 (passcode: Brunswick Q2).

A replay of the conference call will be available through midnight CDT July 31 by calling (866) 457-5504 or (203) 369-1278. The replay also will be available at www.brunswick.com.
 

Welcome to TradeOnlyToday’s premium content! To continue reading, please register now, for access to 10 free stories per month. Or subscribe, for unlimited access to all TradeOnlyToday content!

Click here to Register ... it's free!

Basic subscription: Registered members get free access to 10 premium content stories each month!

Not a member yet? Click here to Register!

Already a member? Click here to Login!

Subscribe ... for unlimited access!

Individual subscription: $29 for unlimited site access for one year.

Small Business subscription: $140 for unlimited site access for up to 10 members of a company for one year.

Corporate subscription: $300 for unlimited site access for all members of a company for one year.

You may close this dialog after seconds.

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Comments are moderated and generally will be posted if they are on-topic and not abusive. For more information, please see our Comments Policy.

Vote Today

What is the best outcome for the marine industry in the November mid-term elections?

View Results

Loading ... Loading ...

Search Boats for Sale

Length
Year
Price

Login to Trade Only Today

Lost Password