Brunswick releases Q3 2025 report

Brunswick Corporation recently shared its results for the third quarter of 2025, reporting an increase in consolidated net sales.

For the third quarter of 2025, Brunswick reported consolidated net sales of $1,360.2 million, up from $1,273.3 million in the third quarter of 2024. The company stated that sales increased as a result of strong orders from OEMs and dealers, steady boating participation driving P&A and aftermarket business strength and pricing actions taken in recent periods.

Adjusted operating earnings were down versus the prior year due to the enterprise impacts of tariffs and the reinstatement of variable compensation, partially offset by the impacts of the sales increases. GAAP operating earnings were additionally impacted by impairment charges.

Q3 results year-over-year

The Propulsion segment reported a 10% increase in sales, resulting primarily from strong OEM
orders in a low field inventory environment and continued robust market share, according to the company.

The Engine Parts and Accessories segment reported an 8% increase in sales due to healthy
boater participation, driving a 4% increase in the products business and a 12% increase
in the distribution business.

The Navico Group segment reported a 2% increase in sales, led by strong growth in the marine
electronics portfolio.

The Boat segment reported a 4% increase in sales, resulting from improved retail sales in the
quarter, pulling through steady wholesale orders as dealer inventories remain lean. Freedom Boat
Club continued its growth journey, contributing approximately 13% of segment sales.

2025 Outlook

“As we close out 2025 and look towards 2026, while the trade and economic environment remains
extremely dynamic, we believe that we are well positioned to benefit from an industry recovery due
to the operating leverage inherent in our businesses,” said David Foulkes, chairman and chief executive
officer of Brunswick.

“Our tariff mitigation strategies are working, significantly reducing our net exposure, and we believe that our substantial, vertically-integrated U.S. manufacturing base positions us relatively well in an environment of persistent tariffs. Interest rates are coming down, with further cuts expected, reducing the cost of financing for both end consumers and dealers as we approach the fall boat show season and the restocking cycle for what we anticipate to be a modestly stronger 2026.”

Brunswick’s full-year guidance includes:

• Net sales of approximately $5.2 billion
• Adjusted diluted EPS of approximately $3.25
• Increased free cash flow, now in excess of $425 million
• Annual share repurchases of at least $80 million