BC - Brunswick reports Q2 figures below guidance amid IT security incident
2023-07-19 06:39:54 ET
- Brunswick ( NYSE: BC ) preliminary Q2 revenue of approximately $1.7B ($1.83B consensus) falls short of $1.84B guidance solely due to the impacts of the recent IT security incident that was disclosed in June.
- GAAP EPS in the range of $1.85 to $1.90 and Adjusted EPS in the range of $2.30 to $2.35 ($2.65 consensus) short of $2.60-$2.70 guidance.
- The company expects strong free cash flow generation in Q2.
- “For the full year, while we see some positive signals, with stronger than expected new boat retail in the recent months and continued high Mercury retail market share, the impact of the IT security incident combined with anticipated continued pressure on consumers globally, lead us to be cautious regarding second-half financial performance. These factors, coupled with our disciplined management of inventory levels across our businesses as we plan forward, direct our full-year Adjusted EPS expectations to now be approximately $9.50,” said Dave Foulkes, Brunswick Corporation CEO
- The Company will report its Q2 results and full-year outlook during its earnings call on July 27, 2023.
- Source: Press Release
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Brunswick reports Q2 figures below guidance amid IT security incident