NYSE$BC
Brunswick Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Brunswick reported fourth quarter results, with strong cash generation and market share gains.
Brunswick Corporation reported a decrease in net sales and diluted EPS for the fourth quarter of 2023 compared to the record fourth quarter of 2022. Despite a challenging macroeconomic environment, the company highlighted strong cash generation, high-horsepower outboard market share gains, and steady operating performance.
- Net sales decreased due to measured wholesale ordering patterns and higher discounts.
- Operating earnings and margin declined due to lower net sales and spending on growth initiatives.
- Propulsion segment sales decreased, but operating margins improved due to cost control and reduced material costs.
- Engine Parts and Accessories segment sales slightly decreased, with operating earnings and margins also declining.
Headline financials
Revenue & EPS history
Brunswick · Revenue · Quarterly
$1.36B
Revenue by segment
Brunswick · $1.49B total across 3 segments · Q3 2023
- Propulsion$718M+16.7%48.2%
- Boat$429M-16.1%28.7%
- Engine P&A$345M-3.9%23.1%
Forward guidance
Brunswick anticipates U.S. marine industry retail unit sales to be flat versus 2023, net sales between $6.0 billion and $6.2 billion, adjusted operating margin of between 12.0 and 13.0 percent, free cash flow in excess of $350 million, adjusted diluted EPS in the range of $7.00 - $8.00, and first quarter 2024 revenue of between $1.3 and $1.4 billion, and adjusted EPS between $1.30 and $1.40.
Tailwinds
- Potential for steadily easing financial conditions.
- Launch of more than fifteen new products across businesses.
- Focus on delivering steady free cash flow and resilient EPS.
- Disciplined pipeline management and strong operational performance.
- Continued investments in new products and growth.
Headwinds
- Cautious outlook, particularly in the first quarter.
- Uncertain consumer and business environment.
- Impact of more measured wholesale ordering patterns by dealers, OEMs and retailers
- Higher discounts in select segments
- Softer marine OEM orders and the continued weak RV manufacturing environment
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.2%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+0.4%
Avg return
30 days after
52%
34 / 66 earnings
Positive
+10.8%
Q2 2013
Best reaction
-13.0%
Q3 2017
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.6% | -1.2% | +5.6% | |
| Q4 2025 | -4.4% | +1.9% | -5.4% | |
| Q3 2025 | +8.5% | +8.5% | -1.3% | |
| Q2 2025 | +6.7% | +11.6% | +17.6% | |
| Q1 2025 | +5.7% | +2.4% | +9.9% | |
| Q4 2024 | +1.3% | -1.5% | -10.7% | |
| Q3 2024 | +4.9% | +7.5% | +7.0% | |
| Q2 2024 | +8.8% | +12.9% | +9.6% | |
| Q1 2024 | -5.9% | -6.4% | -7.7% | |
| Q4 2023 | +6.1% | +4.2% | +8.9% | |
| Q3 2023 | -1.0% | +1.0% | +13.8% | |
| Q2 2023 | +0.4% | +2.4% | -2.8% | |
| Q1 2023 | +2.1% | +3.7% | -6.7% | |
| Q4 2022 | +7.2% | +3.2% | +2.6% | |
| Q3 2022 | -0.1% | +0.0% | +1.6% | |
| Q2 2022 | +4.1% | -1.4% | +1.3% | |
| Q1 2022 | +1.4% | +7.3% | +1.5% | |
| Q4 2021 | +3.7% | +5.6% | +7.5% | |
| Q3 2021 | +3.0% | +7.3% | +10.3% | |
| Q2 2021 | +7.2% | +7.5% | +5.6% | |
| Q1 2021 | +1.6% | +6.4% | -3.1% | |
| Q4 2020 | -5.5% | -5.1% | -3.4% | |
| Q3 2020 | -1.1% | +5.7% | +18.3% | |
| Q2 2020 | -7.4% | -5.5% | -14.2% | |
| Q1 2020 | -9.4% | -6.4% | +12.9% | |
| Q4 2019 | -0.1% | -2.7% | -15.5% | |
| Q3 2019 | +2.3% | +3.4% | +0.2% | |
| Q2 2019 | +2.2% | +3.3% | -5.7% | |
| Q1 2019 | -7.4% | -6.0% | -20.6% | |
| Q4 2018 | -4.8% | -1.8% | +5.7% | |
| Q3 2018 | -9.6% | -8.6% | -5.1% | |
| Q2 2018 | -5.3% | -2.4% | -0.7% | |
| Q1 2018 | +2.3% | +4.0% | +8.0% | |
| Q4 2017 | -4.7% | -6.1% | -2.5% | |
| Q3 2017 | -13.0% | -11.9% | -8.6% | |
| Q2 2017 | -5.7% | -7.0% | -11.7% | |
| Q1 2017 | -6.2% | -7.3% | -9.6% | |
| Q4 2016 | +3.6% | +5.4% | +7.0% | |
| Q3 2016 | -7.1% | -8.0% | +6.0% | |
| Q2 2016 | -1.4% | -3.8% | -8.7% | |
| Q1 2016 | -6.4% | — | — | |
| Q4 2015 | -5.5% | — | — | |
| Q3 2015 | +8.1% | — | — | |
| Q2 2015 | +0.0% | — | — | |
| Q1 2015 | -9.2% | — | — | |
| Q4 2014 | +5.2% | — | — | |
| Q3 2014 | +3.7% | — | — | |
| Q2 2014 | +1.1% | — | — | |
| Q1 2014 | -4.2% | — | — | |
| Q4 2013 | +2.6% | — | — | |
| Q3 2013 | +2.7% | — | — | |
| Q2 2013 | +10.8% | — | — | |
| Q1 2013 | +2.8% | — | — | |
| Q4 2012 | +9.6% | — | — | |
| Q3 2012 | +8.5% | — | — | |
| Q2 2012 | -1.6% | — | — | |
| Q1 2012 | +2.4% | — | — | |
| Q4 2009 | +3.9% | — | — | |
| Q4 2011 | +3.9% | — | — | |
| Q3 2010 | -0.8% | — | — | |
| Q3 2011 | -0.8% | — | — | |
| Q2 2011 | -1.1% | — | — | |
| Q4 2010 | -1.1% | — | — | |
| Q2 2010 | -1.4% | — | — | |
| Q1 2011 | -1.4% | — | — | |
| Q1 2010 | -1.4% | — | — |
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