Business

Brunswick Corp. beats expectations in second quarter

Posted July 28, 2022 1:00 am

METTAWA - Brunswick Corp. on Thursday reported second-quarter profit of $197.3 million.

The Mettawa-based company said it had net income of $2.59 per share. Earnings, adjusted for nonrecurring costs and to account for discontinued operations, were $2.82 per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.71 per share.

The boat and sporting goods company posted revenue of $1.84 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $1.82 billion.

Brunswick expects full-year earnings in the range of $10 to $10.30 per share, with revenue in the range of $6.9 billion to $7.1 billion.

Brunswick shares have declined 24% since the beginning of the year. The stock has declined 21% in the last 12 months.

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