Briggs & Stratton Trims FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Thursday, Briggs & Stratton Corp. (BGG) trimmed its adjusted earnings and net sales guidance for the full-year 2020.

For fiscal 2019, the company now projects adjusted earnings in a range of $0.05 to $0.33 per share on net sales between $1.83 billion and $1.97 billion.

Previously, the company expected adjusted earnings in the range of $0.20 to $0.40 per share on net sales between $1.91 billion and $1.97 billion.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.19 per share on net sales of $1.90 billion for the year. Analysts' estimates typically exclude special items.

The company announces the completion of its market dynamics project and timeline to launch its plan to reposition the company

"We are currently finalizing the next steps forward for this plan, which will simplify our business and improve our financial flexibility. We will announce further details and begin implementing our plans in the third quarter," stated Todd Teske, Chairman, President and Chief Executive Officer.