Plus   Neg

Brunswick Slashes FY19 Adj. EPS Outlook - Quick Facts

While reporting financial results for the second quarter, Brunswick Corp. (BC) on Thursday slashed its adjusted earnings guidance for the full-year 2019 to a range of $4.20 to $4.30 per share from the prior forecast range of $4.50 to $4.70 per share.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.50 per share for the year. Analysts' estimates typically exclude special items.

In addition, considering the positive momentum created by actions taken this year, including the full-year benefits from cost measures and the execution of its capital strategy, the company is maintaining 2020 earnings per share target of $5.00 to $5.50, assuming steady macro-economic conditions and a retail marine market that is flat to 2019. Analysts currently expect earnings of $5.14 per share.

Further, the company's board has increased its existing share repurchase authorization to $600 million and plans to repurchase $330 million of shares in the second-half of 2019, bringing the full-year total to $400 million.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Boeing's (BA) board removed its Chief Executive Officer Dennis Muilenburg as chairman, saying the change would enable Muilenburg to focus on returning the company's best-selling 737 MAX aircraft to service. The company's board elected independent lead director David Calhoun to serve as non-executive chairman. United Airlines has announced that tickets for the Bombardier CRJ-550 will be available for purchase starting Saturday, October 12 for travel beginning Sunday, October 27. United Airlines also revealed the first 15 routes for the new Bombardier CRJ-550 aircraft. Initially, the CRJ-550 will fly out... Coffee retail giant Starbucks (SBUX) announced its plan to expand its profit-sharing Community Store program in Korea. The company plans to open the first of several locations in early 2020. The country is one of three Starbucks markets with Community Stores, according to a press release. Starbucks...
Follow RTT