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BC NYSE· Brunswick Corp
Earnings report Q4 2023

Brunswick Corporation Reports Strong Revenue Growth in Latest Quarter

Segments of Revenue

  • Propulsion Engine P&A segment generated $2.41 billion in revenue, representing the largest contribution to the company's total revenue.
  • Navico Group segment recorded revenue of $1.19 billion, showcasing a significant increase compared to the previous year.
  • Boat segment contributed $1.99 billion to the company's revenue, indicating a strong performance in the latest quarter.
  • The United States was the largest geographic market for Brunswick Corporation, generating $4.86 billion in revenue.
  • Europe accounted for $859.8 million in revenue, followed by the Asia-Pacific region with $416.5 million.
  • Canada and Rest-of-World regions contributed $402.5 million and $332.8 million in revenue, respectively.

Strengths

  • Brunswick Corporation experienced overall revenue growth in the latest quarter, with total net sales reaching $6.40 billion.
  • The Propulsion Engine P&A segment was a major revenue driver, generating $2.41 billion, primarily fueled by strong demand for outboard engines.
  • The Navico Group segment showed significant growth, contributing $1.19 billion in revenue, indicating successful integration and performance of the acquired business.
  • The company's innovative products received several prestigious awards, including the NMMA and BWI Innovation Awards, showcasing Brunswick's commitment to groundbreaking technologies.

Challenges

  • While Brunswick Corporation demonstrated strong revenue growth, it remains exposed to economic cycles and consumer spending patterns, particularly in the recreational boating industry.
  • Deterioration in general economic conditions or reduced consumer confidence may impact sales, potentially leading to lower pricing and potential impairment charges.
  • Limited discretionary income of consumers may divert spending away from recreational products, affecting Brunswick's financial results.

Noteworthy

  • Brunswick Corporation's revenue for the year ended December 31, 2023, increased to $6.40 billion, compared to $6.81 billion in the previous year.
  • The company's international operations contributed significantly to its revenue, with Europe accounting for $837.3 million and Canada contributing $373.0 million.
  • Brunswick Corporation received a record 11 Boating Industry Magazine 2023 Top Product Awards, highlighting the strength and recognition of its product portfolio.

Summary

Brunswick Corporation reported strong revenue growth in the latest quarter, driven by the Propulsion Engine P&A and Navico Group segments. The company's innovative products received multiple awards, further enhancing its reputation in the industry. However, Brunswick remains exposed to economic cycles and consumer spending patterns, which may impact its financial performance. Overall, the company's revenue performance reflects its ability to adapt to market demands and deliver innovative solutions to its customers.

Source documents

Form 10-K  filed on Feb 16, 2024
125 pages scanned

Reference data

Company financials Q4 revenue 1.36B
Analyst estimates Q4 EPS missed by -11.92%
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