Brunswick Slashes FY19 Adj. EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, Brunswick Corp. (BC) on Thursday slashed its adjusted earnings guidance for the full-year 2019 to a range of $4.20 to $4.30 per share from the prior forecast range of $4.50 to $4.70 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.50 per share for the year. Analysts' estimates typically exclude special items.

In addition, considering the positive momentum created by actions taken this year, including the full-year benefits from cost measures and the execution of its capital strategy, the company is maintaining 2020 earnings per share target of $5.00 to $5.50, assuming steady macro-economic conditions and a retail marine market that is flat to 2019. Analysts currently expect earnings of $5.14 per share.

Further, the company's board has increased its existing share repurchase authorization to $600 million and plans to repurchase $330 million of shares in the second-half of 2019, bringing the full-year total to $400 million.