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Brunswick Boosts FY22 Outlook As Q1 Results Top Estimates

While reporting financial results for the first quarter on Thursday, Brunswick Corp. (BC) raised its adjusted earnings and net sales guidance for the full-year 2022. It also provided outlook for the second quarter.

For fiscal 2022, the company now projects adjusted earnings in a range of $9.80 to $10.30 per share on net sales between $6.8 billion and $7.1 billion.

Previously, the company expected adjusted earnings in a range of $9.60 to $10.25 per share on net sales between $6.7 billion and $7.0 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.06 per share on net sales of $6.87 billion for the year. Analysts' estimates typically exclude special items.

The company also expects second-quarter earnings per share growth of mid-single digit percent on revenue growth in the mid-to-high teens percent. The Street is looking for earnings of $2.82 per share on revenue of $1.80 billion for the quarter.

For the first quarter, the company reported net income of $174.2 million or $2.25 per share, up from $169.3 million or $2.15 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $2.53 per share, compared to $2.24 per share last year.

Consolidated net sales for the quarter grew 18 percent to $1.70 billion from $1.43 billion in the same quarter last year.

Analysts expected earnings of $2.32 per share on revenue of $1.64 billion for the quarter.

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