Analyst: 2010 sales will continue to drop

Publish date:
Social count:

Wells Fargo Securities analyst Tim Conder is estimating that industry unit sales will fall 14 to 15 percent this year, based on August sales being down 13 percent and September trends that Statistical Surveys reported Monday.

September historically accounts for 6 percent of annual retail unit sales and the third quarter accounts for about 31 percent of sales, he said.

"Bottom line: We see continued volatility in [Brunswick] shares, precipitated by broad macro sentiment within a likely $14-$18 range until spring '11," Conder wrote. "We believe investors should continue to opportunistically use volatility within the context of a gradual cyclical recovery.

"Key near-term for the industry will be U.S. retail sales in the Mar-Aug '11 period," he added. "Additionally, the general cleanup of non-current new and quality used product in '10 should incrementally benefit new unit sales in '11 and beyond."

Brunswick's third-quarter earnings report will be released Thursday before the market opens.


MarineMax has strong second quarter

MarineMax grew revenue more than 10 percent to $270.6 million in the second quarter, prompting the company again to raise its annual expectations to $1.44 to $1.50 versus its prior expectations of $1.30 to $1.40 per-diluted-share.

Brunswick releases first quarter sales

Brunswick Corp. announced that consolidated net sales increased 7 percent in the first quarter, with the marine engine segment up 9 percent and the boat segment rising 7 percent over last year.

Flir posts first quarter results

First quarter revenue at Flir Systems Inc. grew 8 percent to $439.6 million, and organic revenue was up 13 percent, due in part to strong results in the Raymarine.

Connecticut Spring In-Water Boat Show announces exhibitors

The 3rd Annual Connecticut Spring Boat Show will be held May 4-6 at Brewer Essex Island Marina in Essex, Conn., and will feature boats from Albemarle, American Tug, Back Cove, Beneteau, Boston Whaler, Buzzards Bay, Catalina, Chris Craft, Cutwater, Dufour, Dyer, East Bay, Formula, Four Winns, Grand Banks, Hunt, Legacy, Mainship, Maxim, Meridian, MJM, Monterey, Nordic Tug, Ranger Tug, Rossiter, Sabre, San Juan, Scarab, Scout, Sea Born, Sea Ray, Shelter Island, Southport, Surfhunter, Tiara, Vanquish and more.