Brunswick Q2 Earnings Down; Raises FY Adj. EPS Outlook

(RTTNews) - Brunswick Corporation (BC), Thursday reported net earnings of $80.4 million or $0.88 per share for the second quarter, compared with $83.6 million or $0.93 per share in the year ago quarter.

On an adjusted basis, the company reported net income from continuing operations of $1.23 per share. On average, nine analysts polled by Thomson Reuters had expected earnings per share of $1.08 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the period increased 4 percent to $1.09 billion from $1.05 billion reported during the same period last year.

"...Revenue growth in the quarter was led by outboard marine products, marine parts and accessories, fitness equipment, and U.S. retail bowling, partially offset by declines in fiberglass sterndrive/inboard boats and in our bowling products business...." said Brunswick Chairman and Chief Executive Officer Dustan McCoy. "

The company increased its adjusted earnings per share outlook to $2.55 - $2.65 per share from previously anticipated $2.30 - $2.50 per share