An analyst covering Brunswick Corp. says he is raising his “fair value estimate” for the company. “We are raising our fair value estimate for Brunswick and lowering our fair value uncertainty rating in light of the stabilization of the firm’s liquidity position,” wrote Philip Gorham, a stock analyst for Morningstar. “However, we think that Brunswick…more
Brunswick Corp.’s boat group consists of 15 brands worldwide, including Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris FloteBote, Lowe, Lund, Meridian, Princecraft and Sea Ray. The group’s additional four brands — Rayglass, Uttern, Valiant and Quicksilver — are marketed in countries other than the United States.
Previously laid-off employees at Brunswick’s Palm Coast, Fla., production facility were recalled recently as the company prepares to ramp up production of Meridian Yachts. The Palm Coast facility currently employs 265 people building Meridian Yachts from 40 to 47 feet, and Sea Ray sportyachts from 39 to 50 feet. Employment dropped by more than 40…more
Brunswick Corp. recently completed an open-market purchase of approximately $85 million of its outstanding 11.75 percent notes due 2013. Brunswick purchased these notes for about $97 million, excluding accrued interest. This action is in line with the company’s objective of reducing its near-term debt maturities to enhance its financial flexibility. Combined with the purchase of…more
Standard & Poor’s Ratings Services revised its rating outlook on Brunswick Corp. from negative to stable. Ratings on the company, including the B- corporate credit rating, were affirmed. “The outlook revision is based on our expectation that Brunswick’s liquidity will be sufficient to carry it at least through 2010,” Standard & Poor’s credit analyst Andy…more
Dustan McCoy, chairman and CEO of Brunswick Corp., will present at the upcoming Raymond James & Associates Fall Investors Conference in Boston. McCoy’s presentation will be webcast live, beginning around 3:15 p.m. Thursday. The webcast can be accessed through Brunswick’s Web site. Replays also will be available on the site.
Wells Fargo Securities upgraded its outlook on Brunswick to “outperform” following the company’s third-quarter earnings report released last week. Though Brunswick reported a 36 percent drop in overall sales for the quarter, including a 40 percent decline in marine sales, it also reported the reduction of inventory levels to 21 weeks of supply in the…more
Brunswick Corp. declared an annual dividend on its common stock of 5 cents per share, payable Dec. 15 to shareholders of record on Nov. 24. At midday, Brunswick stock was trading at around $10.56 per share, up from a close of $9.48 Wednesday. Its 52-week high and low are $13.43 and $1.82.
Brunswick Corp. today reported a 36 percent decline in sales for the third quarter of 2009, attributed primarily to a 40 percent drop in marine sales from year-ago levels. However, the company also reported the lowering of inventory levels to 21 weeks of supply in the pipeline, an improved cash position up by more than…more
Brunswick Corp. is donating $74,000 in support of the Fond du Lac and Oshkosh area United Way 2009 fund-raising campaigns. Brunswick has donated $389,300 since 2005. Click here for the full report.
Brunswick Corp. will release its third quarter 2009 financial results Oct. 29 before the market opens. The company will host a conference call at 10 a.m. CDT that same day to discuss the results. The call will be broadcast on the company’s Web site. To listen to the call, go the site at least 15…more