Brunswick Raises Lower-end Of 2018 Outlook; Q1 Results Beat View - Quick Facts

(RTTNews) - Brunswick Corp. (BC) on Thursday raised that lower end of its adjusted earnings guidance range for the full-year 2018 to $4.50 to $4.65 per share from the prior forecast range of $4.45 to $4.65 per share.

The guidance takes into account benefits from a lower federal tax rate, continued successful marine business performance, potential inflationary pressures, and additional revenue and margin risk in the Fitness business for the remainder of the year.

The company also raised the lower end of its revenue growth guidance range for fiscal 2018 to 6 to 7 percent from the prior growth range of 5 to 7 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.60 per share on revenue growth of 6.0 percent to $4.78 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, Brunswick reported net earnings of $72.9 million or $0.82 per share, up from $64.9 million or $0.71 per share in the prior-year quarter. Earnings per share from continuing operations grew to $0.91 from last year's $0.81. Adjusted earnings per share from continuing operations were $1.01, compared to $0.88 a year ago.

Consolidated net sales for the quarter increased 7 percent to $1.16 billion from $1.08 billion in the quarter last year. Net sales increased 9 percent for the Marine Engine segment and 7 percent for the Boat segment.

Analysts expected quarterly earnings of $0.94 per share on revenues of $1.15 billion.