Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Brunswick Q4 Adj. EPS Tops Estimate

RELATED NEWS
Trade BC now with 

Recreational goods maker Brunswick Corp. (BC: Quote) said Thursday that its fourth quarter loss widened from last year, hurt by bigger losses from discontinued operations stemming mainly from the company's Hatteras and CABO boat businesses that it plans to exit.

However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations.

Brunswick share are currently trading at $34.75, up $1.95 or 5.94%.

The company reported a net loss for the fourth quarter of 75.3 million or $0.84 per share, compared to a net loss of $29.6 million or $0.33 per share for the year-ago quarter.

Loss from continuing operations for the fourth quarter was $16.1 million or $0.18 per share, compared to a loss from continuing operations of $25.4 million, or $0.28 per share in the prior year quarter.

The latest quarter results include $0.11 per share of restructuring, exit and impairment charges, a $0.05 per share loss on early extinguishment of debt, and a $0.04 per share charge from special tax items.

Excluding items, adjusted earnings from continuing operations for the latest quarter were $0.02 per share.

On average, 9 analysts polled by Thomson Reuters expected the company to report a loss of $0.08 per share for the fourth quarter.

Net sales for the fourth quarter rose 9% to $829.8 million from $761.5 million in the same quarter last year. Ten analysts had a consensus revenue estimate of $849.27 million for the fourth quarter.

All of the company's four business segments - Marine Engine, Boat, Fitness, Bowling & Billiards - recorded sales growth.

For the full year 2013, the company forecast adjusted earnings of $2.20 to $2.45 per share with revenue growth of 3% to 5%. Analysts currently expect the company to earn $2.23 per share on revenue growth of 5.90%.

Register
To receive FREE breaking news email alerts for Brunswick Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Toyota Motor Corp. (TM, TYT.L) Thursday announced 1.1 percent decline in worldwide production for October, as there was a sharp decline in production of passenger cars in Japan. Production outside Japan improved 2.3 percent. In a separate announcement, the Japanese automaker said it will recall more... Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.