Briggs & Stratton Increases 2018 Guidance

(RTTNews) - Briggs & Stratton Corporation (BGG) announced, for fiscal 2018, net sales are expected to be in a range of $1.90 billion to $1.95 billion, up from previous guidance of $1.87 billion to $1.92 billion. Net income is expected to be in a range of $60 million to $68 million (previously $56 million to $64 million), or $1.41 to $1.58 per share (previously $1.31 to $1.48 per share), prior to the impact of costs related to business optimization program or the benefit of any share repurchases.

Adjusted loss per share for the fiscal first quarter was $0.27, an improvement from a $0.34 loss per share for the first quarter of fiscal 2017. Fiscal first quarter net sales were $329 million, an increase of 14.7%, from $287 million for the prior year, due to both higher shipments of generators related to hurricane activity and continued favorable momentum in sales of engines and products designed for commercial markets.