Brunswick Boosts FY22 Outlook As Q1 Results Top Estimates

(RTTNews) - While reporting financial results for the first quarter on Thursday, Brunswick Corp. (BC) raised its adjusted earnings and net sales guidance for the full-year 2022. It also provided outlook for the second quarter.

For fiscal 2022, the company now projects adjusted earnings in a range of $9.80 to $10.30 per share on net sales between $6.8 billion and $7.1 billion.

Previously, the company expected adjusted earnings in a range of $9.60 to $10.25 per share on net sales between $6.7 billion and $7.0 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.06 per share on net sales of $6.87 billion for the year. Analysts' estimates typically exclude special items.

The company also expects second-quarter earnings per share growth of mid-single digit percent on revenue growth in the mid-to-high teens percent. The Street is looking for earnings of $2.82 per share on revenue of $1.80 billion for the quarter.

For the first quarter, the company reported net income of $174.2 million or $2.25 per share, up from $169.3 million or $2.15 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $2.53 per share, compared to $2.24 per share last year.

Consolidated net sales for the quarter grew 18 percent to $1.70 billion from $1.43 billion in the same quarter last year.

Analysts expected earnings of $2.32 per share on revenue of $1.64 billion for the quarter.