Brunswick Corp. (BC), a marine recreation company, on Thursday announced that net income declined in the first quarter compared with the previous year.
For the first quarter, net income was $20.2 million, down from $68 million last year.
Earnings per share were $0.30 versus $0.99 in the previous year's quarter.
On the adjusted basis, net income was $72.1 million, while it was $141.5 million in the previous year's quarter.
Adjusted earnings per share were $0.56 versus $1.35 last year.
Seventeen Analysts, on average, had expected the company to report a profit of $0.22 per share. Analysts' estimates typically exclude special items.
Operating earnings decreased to $56.3 million from $110.6 million in the prior year.
Looking ahead, the company expects full-year net sales to be between $5.0 and $5.4 billion.
The company also anticipates adjusted earnings per share to range between $2.50 and $4.00.
For the second quarter, the company expects revenue to range between $1.1 billion and $1.3 billion.
Adjusted earnings per share for the second quarter are expected to range between $0.80 and $1.10.
In the pre-market trading, Brunswick is 0.60% lesser at $45 on the New York Stock Exchange.
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