Brunswick first quarter results to exceed estimates
LAKE FOREST, Ill. – Boat and engine builder Brunswick Corp. (NYSE: BC) will report earnings estimated between $0.48 and $0.50 per diluted share for the first quarter of 2004 and has raised its estimate for the full year to between $2.45 and $2.65 per diluted share, according to a statement issued by the company late yesterday.
The company’s previous estimates had diluted earnings per share in the range of $0.35 to $0.40 for the first quarter and $2.10 to $2.30 for 2004.
Strong performances from Brunswick’s Marine Engine and Boat segments were the primary reasons for the better-than-expected results for the quarter, the company said.
“We continue to see growing demand at retail for our marine products,” said Brunswick Chairman and CEO George W. Buckley. “The improving marine environment, the strong first quarter, along with the $0.08 to $0.10 per share contribution from the three aluminum boat companies we acquired earlier this month, are behind the increase in our earnings estimates for 2004.”
Brunswick will release its first quarter 2004 financial earnings results on April 27, before the market opens, and will hold a conference call at 10 a.m. CDT that same day, the company said.
- For more of the latest news, click here.
- To discuss this topic with other recreational marine industry professionals, click here.
