Analyst: Brunswick report will predict steeper industry sales decline

Author:
Publish date:
Social count:
0

Wells Fargo Securities analyst Timothy Conder is predicting Brunswick will say it expects industry retail boat sales to be down 15 to 20 percent this year, as opposed to the 10 percent it had previously predicted, when it releases second quarter earnings July 29.

"Expectations of a return to profitability in '11 will be reaffirmed, but likely [with] a higher degree of caution," Conder said.

He expects Brunswick will say domestic new-boat sales have trailed expectations, but internationals sales remain solid. Conder also says Brunswick will confirm inboard/sterndrive engines continue to exceed expectations, while outboards are meeting expectations.

Conder also reiterated the "outperform" rating of Brunswick stock.

Brunswick's stock closed Tuesday at $14.97 per share, after opening at $14.01. Its 52-week high and low are $22.89 and $4.21.

Click here for the full report.

Related

Sales stagnate in March

Overall boat sales in March were slightly lower compared to last year and year-over-year growth was down by just over 1 percent, according to Statistical Surveys Inc., data that was gathered for 30 states.

Catawba Island show starts today

The Lake Erie Marine Trades Association’s Progressive Catawba Island Boat Show opens a week from today and will run through April 29 with more than 100 power and sailboats on display at the Catawba Island Club on western Lake Erie.