BC - Brunswick beats Q1 top and bottom line estimates; initiates Q2 and updates FY23 outlook

2023-04-27 06:19:12 ET

• Brunswick press release ( NYSE: BC ): Q1 Non-GAAP EPS of $2.57 beats by $0.19 .
• Revenue of $1.74B (+2.4% Y/Y) beats by $30M .
• Cash and marketable securities totaled $399.7 million at the end of the first quarter, down $213.3 million from 2022 year-end levels.
• Net cash used for operating activities of continuing operations during the first quarter of the year of $14.5 million includes net earnings net of non-cash items and the seasonal impact of working capital build.
• " Our updated 2023 guidance anticipates : Net sales of $6.8 billion to $7.2 billion vs. consensus of $6.98B;  Adjusted diluted EPS between $9.50 and $11.00 vs. consensus of $10.27;  Share repurchases in excess of $200 million; and Second quarter 2023 net sales flat to up slightly versus Q2 2022, and adjusted diluted EPS between $2.60 and $2.70 vs. consensus of $3.03."

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