Brunswick reports 1Q results

Brunswick Corp. reported 9 percent first-quarter revenue growth.

Brunswick Corp. reported 9 percent first-quarter revenue growth and the company’s adjusted operating earnings increased by 13 percent from the 2015 quarter.

Diluted earnings per share was 71 cents, a 12-cent increase from the previous year.

“Our reported first-quarter revenues increased by 9 percent, or 10 percent on a constant currency basis,” Brunswick chairman and CEO Mark Schwabero said in a statement. “Our top line reflected strong growth rates in our fiberglass outboard boats and marine parts and accessories businesses. This growth was supplemented by another solid performance in outboard engines, as well as benefits from our acquisition strategy.

“Our performance in the first quarter reflected continued successful execution of our growth strategy, including our focus on product leadership and the associated market share gains,” Schwabero continued. “Although it is still early in the marine season, initial marine market data indicates a healthy U.S. marketplace, which is consistent with our assumptions entering the year. Demand in non-U.S. markets remains mixed, and we continue to closely monitor and plan to manage through any challenging conditions.”

The company reported net first-quarter sales of $1.07 billion, up from $985.7 million a year earlier, and operating earnings of $96 million. In the quarter last year Brunswick had operating earnings of $88.7 million.

In this year’s quarter the company reported a profit of $63.2 million, or 68 cents a diluted share, compared with $56.6 million, or 59 cents a share, a year earlier.

The engine segment reported net sales of $595.5 million, up 6 percent from $562.2 million in last year’s quarter. For the 2016 quarter the segment reported operating earnings of $78.3 million, compared with $74.2 million in the 2015 quarter.

Sales increases in the quarter that ended April 2 were led by the segment’s parts and accessories businesses, which included revenue from acquisitions completed in the second and fourth quarters of 2015, and Mercury’s outboard engine business, partially offset by declines in the sterndrive engine business

The boat segment reported net sales of $336.8 million for the quarter, an increase of 6 percent from $318 million in the 2015 quarter. International sales, which represented 25 percent of total segment sales in the quarter, decreased by 12 percent from the prior-year period. For the first quarter of 2016 the boat segment reported operating earnings of $16.4 million, compared with $7.7 million in the 2015 quarter.

The boat segment's increased revenue reflected strong growth in fiberglass outboard boat sales and modest increases in sterndrive/inboard boat sales, partially offset by slight declines in aluminum boat sales, the company said. Operating earnings benefited from higher sales, a favorable product mix and lower commodity costs and savings from sourcing initiatives.


A Record Q2 for Brunswick

With strong global demand in all its business segments, Brunswick Corp. reported another stellar quarter, posting a 57 percent jump in net sales.

OneWater Adds PartsVu

The online marketplace for marine parts, accessories and electronics posted $25 million in sales over the last year.

Groupe Beneteau Updates Revenue Forecasts, More

The builder saw gains in its boat and luxury-home sectors and made several acquisitions, including a majority stake in Dream Yacht Group.

Golden Manufacturing Expands

The fabricator of aluminum boat lifts and aluminum and concrete floating docks adds 18,000 square feet to its Fort Myers, Fla., headquarters.

GetMyBoat Takes You to the Movies

The boat rental marketplace site teams with Disney’s Jungle Cruise for a contest to win a boat trip or movie tickets.

ConMar Adds to Sales Team

The manufacturers’ representatives add industry vet Brain Steele.

Will Canada Reopen to Boaters?

Set to open its borders to fully vaccinated U.S. residents next month, our neighbor to the north could be facing a strike by Canadian border guards and customs officials. Plus, the Great Lakes welcomes a newly designated marine sanctuary.