Tag Archives: David Foulkes

Brunswick reports 2nd Quarter earnings

For the second quarter of 2019, Brunswick reported consolidated net sales of $1,163.5 million, up from $1,148.7 million a year ago. The Marine Engine segment, which manufactures and distributes marine propulsion systems and related parts and accessories, reported net sales of $871.5 million in Q2 2019, up 4.5% from $834.3 million in the second quarter of 2018. The Power Products ...

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Brunswick announces restructure, eliminates 100 positions

Following the completion of the Fitness business sale to KPS Capital Partners, LP, Brunswick Corporation (NYSE: BC) recently announced that it has initiated a range of measures to streamline its cost structure to support sustained earnings growth and provide continued headroom to fund important product, digital, and growth-oriented business initiatives.  A news release from Brunswick said the announcement focuses primarily ...

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Brunswick Corp. OKs new share repurchase authorization, declares regular quarterly dividend

Brunswick Corporation announced that its board of directors has approved a new share repurchase authorization of $450 million and declared a regular quarterly dividend. A regular quarterly dividend on Brunswick common stock of $0.21 per share will be payable on June 14, 2019, to shareholders of record on May 21, 2019. In a separate action, the board of directors approved ...

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Brunswick announces sale of fitness division for $490 million

Brunswick Corporation today announced it has entered into a definitive agreement to sell its fitness business to KPS Capital Partners, LP, a private investment firm, in an all-cash transaction for approximately $490 million. Following completion of the sale, Brunswick will be comprised solely of its global marine portfolio, which includes market-leading positions in propulsion, parts and accessories, boats and services. ...

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Brunswick First Quarter Marine Results Show Strong Top-Line Growth and Margin Expansion

Brunswick Corporation reported results for their marine business for the first quarter of 2019. First Quarter 2019 Highlights: $ millions (except per share data) GAAP Increase/(Decrease) As Adjusted Increase/(Decrease) Marine Business Net Sales $1,050.7 8.7% $ 1,050.7 10.4% Marine Business Operating Earnings $114.1 20.7% $ 124.5 18.3% Marine Business Operating Margin 10.9% 110 bps 11.8% 80 bps Marine Business Operating ...

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Forbes names Brunswick among America’s best employers for 2019

Forbes Magazine has named Brunswick Corporation (NYSE: BC) among America’s Best Employers for 2019.  The Company is ranked No. 219 for employers with 5,000 employees or more. The list of 500 honorees was announced by Forbes in partnership with Statista.com. This is the second consecutive year that Brunswick has been recognized. Brunswick, which was founded nearly 175 years ago, is ...

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Brunswick Corporation names new Mercury Marine president

Brunswick Corporation promoted Christopher Drees, president – marine parts and accessories, to president – Mercury Marine. Drees succeeds John Pfeifer, who has chosen to leave Brunswick to pursue opportunities outside the company. Drees will report to Brunswick chief executive officer David M. Foulkes. The appointment is effective immediately. "Assuming the Mercury presidency is a natural progression for Chris,” Foulkes explained. ...

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Brunswick realigns, streamlines corporate finance organization

Brunswick Corporation (NYSE: BC) today announced planned changes to its corporate finance organization, as it realigns and repositions itself into a streamlined marine-focused organization in anticipation of the planned separation of its Fitness business, which will occur later this year.  As part of this realignment, effective June 3, Randall S. Altman, Brunswick’s vice president - treasurer, will become controller, succeeding ...

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Brunswick reports Q4, full-year 2018 results

Brunswick Corporation (NYSE: BC) recently reported results for the fourth quarter and full-year of 2018. For the fourth quarter of 2018, Brunswick reported net sales of $1,248.9 million, up from $1,182.1 million a year earlier, with $5.4 million and $38.3 million of sales related to Sport Yacht and Yacht operations in the fourth quarter of 2018 and 2017, respectively. Diluted ...

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Brunswick unveils plans for Fiberglass Boat Technology Center

Brunswick Boat Group, a division of Brunswick Corporation (NYSE: BC), has announced plans for the Brunswick Fiberglass Boat Technology Center (BFBTC), an extensive recreational boat design and technology center in the United States. Located in Edgewater, Florida, the 45,000-square-foot facility will be home to a boat product development team, with a mission to design, engineer, and launch innovative, industry-leading products for Boston ...

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