Brunswick Q3 Profit Declines, Yet Beats Estimates

(RTTNews) - Brunswick Corp. (BC) Thursday reported a decline in third-quarter earnings, as revenue was down 6 percent from the previous year. Adjusted earnings per share came in above estimates. Further, the company updated its outlook for the full year.

The quarterly earnings were $112.5 million, or $1.61 per share, down from $168.8 million or $2.21 per share a year ago. On an adjusted basis, earnings were $2.42 per share.

On average, 15 analysts polled by Thomson Reuters expected the company to earn $2.36 per share. Analysts estimates usually exclude special items.

Net sales for the quarter were $1.593 billion, compared to $1.698 billion in the prior year. Analysts were looking for $1.66 billion.

Looking ahead, the company expects fourth-quarter net sales down by high-single-digit percent compared to the prior year, and adjusted earnings per share of approximately $1.65.

For the full year, the company expects adjusted earnings per share of $9.00 and net sales of $6.45 to $6.5 billion.

Street estimates is $9.3 per share on revenue of $6.65 billion.