Brunswick to release 2Q earnings

Author:
Updated:
Original:

Brunswick will hold a conference call at 11 a.m. EDT July 24 to discuss its second-quarter financial results, which will be released before the market opens. Meanwhile, analysts from Wachovia Capital Markets reduced their earnings estimates for Brunswick for 2008 and 2009.

Wachovia now expects Brunswick to report a loss of 73 cents a share in 2008 and earnings of 10 cents a share in 2009. This compares to previous estimates of 50 cents a share and $1.10 a share for 2008 and 2009, respectively. The downward revisions are related to recently announced restructuring charges of $125 million to $145 million through 2009, and from lower assumed revenues and higher overhead.

“We believe additional ’08 restructurings — marine asset impairments, plant closures, brand consolidation — are likely,” said Tim Conder, managing director of leisure equity research for Wachovia, in a report released today.

“We believe it will now be [second quarter of 2009] before initial evidence could emerge that the U.S. retail marine market is stabilizing,” Conder reported. “Until then, [Brunswick] shares are unlikely to see any demand-related upward catalyst.”

The conference call will be hosted by Dustan E. McCoy, chairman and CEO; Peter G. Leemputte, senior vice president and chief financial officer; and Kathryn J. Chieger, vice president of corporate and investor relations.

The call will be broadcast over the Internet at www.brunswick.com. Security analysts and investors wishing to participate via telephone should call (888)-577-8991 (passcode: Brunswick Q2).

A replay of the conference call will be available through midnight CDT July 31 by calling (866) 457-5504 or (203) 369-1278. The replay also will be available at www.brunswick.com.

Related

Registration for Outdoors Conference Opens

The Outdoor Recreation Roundtable’s June 1-2 virtual conference will include speakers and presenters from government agencies and ORR member partners.

Yamaha Sees Double-Digit Growth in Q1

The marine segment was up 7.4 percent, driven by demand for outboards in North America and Europe but tempered by supply-chain logistics.

Orion Announces SafetyPro Training

The factory-authorized courses are designed “to educate retail associates on how to match a boater’s type of boating with the different signal kits that we offer.”

A Truce on Tariffs?

The E.U. will suspend the June 1 increase of its retaliatory tariffs and agreed to negotiate with the U.S. to end steel and aluminum tariffs.

Argos 3D Forward Looking Sonar

For 20 Years, FarSounder has been developing and manufacturing 3D forward-looking sonar for vessels of all sizes.

Dometic Marine Appoints Executives

The company promotes a 20-plus-year employee and adds a vice president of aftermarket sales and e-commerce.

IMEA Launches Scholarship Program

The International Marine Electronics Alliance aims to recruit students into the field of marine technology.

RBFF Campaign Reels in Awards

The fishing-and-boating advocacy group’s Get on Board campaign was recognized by two national public relations organizations.

Suzuki’s Clean Ocean Project

Testing of the engine manufacturer’s microplastics filtering device continues as it moves closer to production. The company also released its full-year financials.