Boat and engine sales drive Brunswick earnings up
LAKE FOREST, Ill. — Brunswick Corp. (NYSE: BC) will report higher than estimated earnings for the year, due in part to strong boat and engine sales, the company reported in a statement yesterday.
Earnings are estimated to be between $0.40 and $0.43 per diluted share for the fourth quarter of 2003 and between $1.62 and $1.65 per diluted share for the year. Previously, the company had estimated diluted earnings per share in the range of $0.28 to $0.33 for the fourth quarter and $1.50 to $1.55 for the year.
The full-year estimates exclude an $0.18 per diluted share litigation charge taken in the first quarter of 2003, according to Brunswick.
The company said that continued strong sales and earnings growth from its Marine Engine, Boat, Fitness and Bowling & Billiards segments, along with the foreign exchange impact of the weakening U.S. dollar and a lower effective tax rate, were the primary drivers behind the better-than-expected results for the quarter.
Brunswick will release its fourth quarter 2003 financial earnings results on Thursday, Jan. 29, 2004, before the market opens. The company will hold a conference call at 10 a.m. CST that same day, which will be hosted by George W. Buckley, chairman and chief executive officer, Peter G. Leemputte, senior vice president and chief financial officer, and Kathryn J. Chieger, vice president – corporate and investor relations. The call also will be broadcast over the Internet and can be accessed at www.brunswick.com.
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