Brunswick Corporation recently reported results for the second quarter of 2021.
For the second quarter of 2021, Brunswick reported consolidated net sales of $1,554.8 million, up
$567.0 million from the second quarter of 2020. Diluted EPS for the quarter was $2.29 on a GAAP
basis and $2.52 on an as adjusted basis. Sales in each segment benefited from strong global
demand for marine products, with earnings positively impacted by increased sales, favorable
factory absorption from increased production, and favorable changes in foreign currency exchange
rates, partially offset by higher variable compensation costs and increased spending on sales and
marketing and ACES / other growth initiatives. Additionally, versus the second quarter of 2020:
Propulsion segment: reported a 64 percent increase in sales due to continued strong global
demand for all product categories and continued market share gains.
Parts and Accessories segment: reported a 42 percent increase in sales, with sales growth across
all businesses in all geographic regions.
Boat segment: reported an 80 percent increase in sales due to increased sales volumes to dealers
to meet continued strong retail customer demand as well as strong operational performance.
Freedom Boat Club, which is part of Business Acceleration, contributed approximately 3 percent of
sales to the segment in the quarter. Increased sales volume and lower retail discount levels versus
prior year drove higher segment operating earnings.
"We delivered record results in the second quarter as a result of the continuing constructive demand
environment, and our very strong operational performance and success in mitigating supply chain
challenges and labor market tightness," said Brunswick chief executive officer David Foulkes.
"Robust retail demand for our products in the first-half of the year has driven field inventory levels to
the lowest level in decades, and we are progressing our efforts to efficiently increase capacity across
most of our facilities to satisfy orders from our global customer base. The combination of strong
demand and low inventory, together with continued strong boat usage through the prime boating
season, which is driving high parts and accessories sales, provides enhanced visibility on our ability
to deliver against our extremely favorable outlook for the remainder of 2021 and beyond."
Click here to see the full report from Brunswick for Q2 2021.