Brunswick Corp. reported its 2015 results Thursday, showing higher sales and earnings for the year and the fourth quarter.
The company also reported increased sales for the fourth quarter of $986.1 million, up from $938.6 million for 2014, although the company reported a $27 million loss for the quarter. That figure includes an $82.3 pension settlement charge and $12.4 million in restructuring costs, the company said.
Sales for the marine portion of Brunswick’s business were up 6 percent for the quarter and 8 percent for the year.
“Our full-year revenues increased by 7 percent; 11 percent on a constant currency basis,” said chairman and CEO Dusty McCoy. “Our top line reflected strong growth rates in fiberglass sterndrive/inboard and outboard boats, outboard engines and marine parts and accessories. This growth also included solid performance in fitness equipment. Solid market demand, higher average marine selling prices, benefits from acquisitions completed in 2014 and 2015 and continued market share gains drove sales growth.”
Sales were up in both the boat and engine groups.
Sales for the marine engine segment (which includes parts and accessories) were up 6 percent for the year at $2.3 billion and up 2 percent for the quarter to $474.7 million. The boat group had sales of $1.27 billion for the year, up 12 percent from 2014, and $336 million for the quarter, up 14 percent.
See the full earnings report here.
Coverage of the earnings call is here.