BC
Brunswick Corporation74.00
-0.56-0.75%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details retail strength, OEM wins
Q&A largely reaffirmed prepared remarks on 2026 growth amid stabilizing retail, but added color on double-digit January U.S. retail gains despite weather, with premium/core brands leading and value recovering. Pipelines stay lean and fresh, targeting flat levels to match wholesale with retail; execs dismissed industry inventory concerns as non-Brunswick issues. New details surfaced on multiyear exclusive OEM deals in Europe fortifying Mercury share, plus IEPA tariffs at $20-25M within $35-45M total. Analysts pressed on retail durability and tariff math; management countered with 7.5% financing rates and >20% incrementals. Retail up double-digits early. Investors eye sustained pull-through, OEM traction.
Key Stats
Market Cap
4.83BP/E (TTM)
-Basic EPS (TTM)
-3.39Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Brunswick posted FY2025 net sales of $5.4B, up 2% y/y despite a soft first half, with Q4 acceleration from stronger wholesale orders lifting Propulsion 5% and Engine P&A 5% while Boat dipped 2%. Operating loss stemmed from $353M restructuring charges, highlighted by $323M Navico impairments, yet adjusted operating margin held at 7%. Free cash flow jumped to $442M on leaner inventories. Q4 share repurchases tallied $15M of $80M annual total. Debt fell to $2.1B with $1.3B liquidity. Economic uncertainty threatens quarterly momentum.
8-K
Q4 sales soar 15.5%
Brunswick capped 2025 with Q4 net sales up 15.5% to $1,333.8 million and adjusted operating earnings up 41% to $66.6 million, fueled by retail stabilization and execution across segments. Full-year sales grew 2.4% to $5,362.8 million; free cash flow hit $442 million. Guidance calls for 2026 sales of $5.6-5.8 billion, adjusted EPS $3.80-4.40. Cash flow crushed it.
8-K
Tender oversubscribed at $111M
8-K
Tender offer for $50M notes
Brunswick launched a cash tender offer on November 12, 2025, to buy up to $50 million of its $300 million 5.100% Senior Notes due 2052. Early tenders by November 25 snag a $50 per $1,000 premium over a 175 bps spread to the 4.750% UST due 2055; expiration hits December 11. Proration looms if oversubscribed. Debt trim signals confidence amid rate pressures.
8-K
Redeems $200M+ notes early
Brunswick issued notices on October 31, 2025, to fully redeem all $185.0 million of its 6.500% Senior Notes due 2048 and partially redeem $15.0 million of its 6.375% Senior Notes due 2049, both on December 1 at a total cost of $201.7 million including accrued interest. No 2048 Notes will remain outstanding; $215 million of 2049 Notes will persist. Debt shrinks selectively.
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