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Brunswick Q1 Adj. Profit Beats View - Quick Facts

Brunswick Corp. (BC) on Thursday reported a net loss for the first quarter of $36.3 million or $0.42 per share, compared to net income of $72.9 million or $0.82 per share in the year-ago period.

The latest quarter's results include an after-tax charge of $103.0 million related to a goodwill impairment in the Fitness segment.

Excluding items, adjusted earnings for the quarter were $0.99 per share, compared to $1.01 per share in the prior-year period.

However, net sales for the quarter rose 5 percent to $1.28 billion from $1.21 billion a year ago.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.98 per share for the quarter on revenues of $1.29 billion. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2019, the company now projects overall revenue growth rate in the range of 8 percent to 10 percent which is slightly lower than the previous estimate.

The company affirmed its forecast for adjusted earnings per share, excluding the Fitness business, in a range of $4.50 to $4.70. Inclusive of the estimated full-year results of the Fitness business, the company maintained its outlook for adjusted earnings per share in the range of $4.80 to $5.05.

The Street expects earnings of $4.96 per share for the year on revenues of $5.47 billion.

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