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.’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.
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
Brunswick Corp. announced it has received tenders from holders of bonds totaling approximately $12 million in response to its modified Dutch auction tender offer for up to $75 million of its outstanding 11.75 percent notes due in 2013. Brunswick has accepted and paid for the tendered notes using net proceeds from its recently completed offering…more
RBC Capital Markets is upgrading Brunswick Corp. stock from sector perform to outperform. “With liquidity risks now behind it and dealer inventories coming in line, we view [Brunswick] as a compelling three-year earnings recovery story,” analyst Edward Aaron wrote in his report. “Our call requires only a 20 percent demand recovery over the next three…more
Brunswick discontinues the line it established in 1988, the fifth since May 2008 As part of its ongoing cost-cutting initiatives, Brunswick Corp. in August announced plans to discontinue its Maxum boat line, which it established in 1988. It is the fifth boat line Brunswick has discontinued in the last year in response to the sagging…more
Brunswick deftly deploys itself for strong recovery Since the marine industry downturn began two years ago, Brunswick Corp. has been staying a step ahead of the recession by drastically cutting costs and shoring up liquidity. These efforts have enabled the industry’s largest boatbuilder to avoid even the threat of bankruptcy and earned it high praise…more
Dustan E. McCoy, chairman and CEO of Brunswick Corp., will attend the RBC Capital Markets Consumer Conference Wednesday in New York City. Presentation materials used during the conference can be viewed on the company’s Web site starting Wednesday.