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Brunswick Corporation

Brunswick Corporation designs, manufactures, and markets recreation products across the United States, Europe, Asia-Pacific, Canada, and other international markets. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment supplies outboard, sterndrive, and inboard engines, controls, rigging, and propellers under brands including Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard. The Engine P&A segment offers engine parts, consumables, electrical products, boat parts and systems, and oils and lubricants under brands such as Mercury, Mercury Precision Parts, Quicksilver, and Seachoice. The Navico Group segment provides marine electronics, sensors, control systems, instruments, power systems, and accessories under brands including Ancor, Attwood, B&G, BEP, Blue Sea Systems, C-MAP, CZone, Lenco, Lowrance, Marinco, Mastervolt, MotorGuide, Progressive Industries, ProMariner, Simrad, and Whale. The Boat segment offers boats under brands such as Sea Ray, Bayliner, Heyday, Boston Whaler, Lund, Crestliner, Harris, Lowe, Princecraft, Navan, and Thunder Jet, along with the Freedom Boat Club, dealer services, and technology. Brunswick Corporation was founded in 1845 and is headquartered in Mettawa, Illinois.

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United States
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Brunswick CEO David Foulkes to Retire; Aine Denari Named Successor

Brunswick Corporation announced that long-serving CEO and Chairman David M. Foulkes will retire on December 31, 2026, with current Navico Group President and Chief Technology Officer Aine L. Denari set to become CEO and a board member on January 1, 2027. The transition comes alongside a series of leadership changes across Navico Group, Business Acceleration, and technology roles, concentrating technology, autonomy, and shared-access expertise at the top of the company. Will Sangster will lead Navico and Karly Yuds will take over Business Acceleration, placing the leaders closest to connected electronics, AI-driven autonomy, and shared-access models in charge of the businesses tied to Brunswick's digital services, Freedom Boat Club growth, and higher technology content per boat. Brunswick's investment narrative projects $6.4 billion in revenue and $426.2 million in earnings by 2029, with a fair value estimate of $89.88, a 37% upside to its current price, while some optimistic analysts assume revenues could reach about US$7.0 billion and earnings about US$600.0 million by 2029. Investors are still cautioned that sustained softness in value boats could weigh on results.
BC · · Neutral CEO David Foulkes to retire and Aine Denari named successor, with leadership reshuffle concentrating tech/autonomy expertise; no clear directional driver for the stock.
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United States
BC▼

Harley-Davidson Q2 Revenue Falls 5.9% to $1.23 Billion, Beats Estimates

Harley-Davidson reported second-quarter revenues of $1.23 billion, down 5.9% year on year but exceeding analysts' expectations by 5.4%, as the 12 consumer discretionary leisure products stocks tracked by the publisher beat consensus revenue estimates by 9.1% as a group. The motorcycle maker also beat analysts' EPS estimates, though it delivered the slowest revenue growth in the group, and its stock is down 9.9% since reporting, trading at $24.88. Among peers, Smith & Wesson posted the best quarter with revenues of $112.6 million, up 32.3% year on year and 14.1% above expectations, sending its stock up 14.6% to $14.06. Brunswick reported revenues of $1.56 billion, up 7.7% and 2.4% above estimates, but delivered the weakest guidance update among its peers, with its stock down 17.8% at $66.16. Clarus reported revenues of $56.16 million, up 1.6% and 7.9% above expectations, with its stock up 3.9% at $3.50, while Malibu Boats reported revenues of $295.5 million, up 42.7% and 12% above expectations, though its stock is down 13.1% at $23.14.
HOG · Capital · Neutral Harley-Davidson beat revenue and EPS estimates but revenue fell 5.9% year on year and its stock is down 9.9% since reporting.
BC · Capital · Negative Brunswick reported revenue up 7.7% but delivered the weakest guidance update among peers, sending its stock down 17.8%.
CLAR · Capital · Positive Clarus reported revenue up 1.6% and 7.9% above expectations, with its stock up 3.9%.
MBUU · Capital · Neutral Malibu Boats reported revenue up 42.7% and 12% above expectations, yet its stock is down 13.1%.
SWBI · Capital · Positive Smith & Wesson posted the best quarter with revenue up 32.3% and 14.1% above expectations, sending its stock up 14.6%.
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Robotics & Physical AI▲

Brunswick unveils autonomous docking tech for boats

Brunswick is demonstrating its new Auto Captain autonomous docking technology at the Brooklyn Bridge Marina, which lets boaters press a button and have the vessel dock itself. Chairman and CEO David Foulkes says the system is now running down production lines and is expected to follow the adoption curve of joystick control, which eventually became standard on Boston Whaler and Sea Ray models. He notes docking is one of the most stressful parts of boating, especially for larger boats in tight areas with wind and current, and predicts Auto Captain will become a must-have feature that affects resale value. Brunswick also showcased a Guardian law-enforcement boat and an unmanned surface vessel developed with Textron for the Navy, with about 20 units already sold.
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Robotics & Physical AI › Autonomous Vehicles & Robotaxi ▲Technology
BC · Technology · Positive Brunswick unveils and is producing Auto Captain autonomous docking, a new product development expected to become standard.
TXT · Demand · Positive Textron is mentioned as partner on an unmanned surface vessel for the Navy with about 20 units sold, indicating demand.
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Brunswick beats Q2 estimates, lifts full-year guidance on premium brand and aftermarket strength

Brunswick reported second-quarter revenue of $1.56 billion, beating analyst estimates of $1.52 billion and growing 7.7% year on year, while adjusted earnings per share of $1.56 surged 31% above consensus. The company raised its full-year revenue guidance to $5.75 billion at the midpoint and its adjusted EPS outlook to $4.55, a 7.1% increase. CEO David Foulkes credited new product traction, improved mix, and healthy aftermarket demand, particularly in premium and core brands, as key growth drivers. CFO Ryan Gwillim noted that about $30 million in IEEPA tariff refunds benefited the quarter, though ongoing tariff and inflation pressures remain a challenge. Brunswick expects continued margin expansion supported by lean inventory, efficiency initiatives, and planned new engine platform launches.
BC · Capital · Positive Beats Q2 estimates and raises full-year guidance
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Consumer Discretionary Leisure Products Stocks Post Strong Q4 Revenue Beat

Consumer discretionary leisure products stocks reported strong fourth-quarter results, with aggregate revenues beating analyst consensus estimates by 5.2%. However, next quarter's revenue guidance came in 3.4% below expectations. Polaris reported revenues of $1.94 billion, up 9% year on year and exceeding estimates by 6.8%, but its full-year EPS guidance significantly missed expectations. Smith & Wesson was the best performer with revenues of $178.4 million, up 26.7% year on year and beating estimates by 14.9%. Ruger was the weakest, with revenues of $141.4 million, up 4.1% year on year, but it significantly missed EPS and adjusted operating income estimates. MasterCraft reported revenues of $78.21 million, up 3% year on year and beating estimates by 3.7%, while Brunswick reported revenues of $1.38 billion, up 12.8% year on year and beating estimates by 4.1%. Share prices of the tracked companies have been resilient, up 6.7% on average since the latest earnings results.
BC · Demand · Positive Brunswick reported Q4 revenues of $1.38B, up 12.8% YoY and beating estimates by 4.1%.
MCFT · Demand · Positive MasterCraft reported Q4 revenues of $78.21M, up 3% YoY and beating estimates by 3.7%.
PII · Demand · Neutral Polaris beat Q4 revenue estimates by 6.8% but full-year EPS guidance significantly missed.
RGR · Demand · Negative Ruger's Q4 revenues of $141.4M missed EPS and adjusted operating income estimates.
SWBI · Demand · Positive Smith & Wesson was the best performer with Q4 revenues of $178.4M, up 26.7% YoY and beating estimates by 14.9%.
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BC▼

Three Consumer Stocks We Keep Off Our Radar

We are avoiding three consumer discretionary stocks due to weak fundamentals. Polaris has seen flat sales over five years and faces a 3.2 percentage point contraction in free cash flow margin, with returns on capital declining. Brunswick posted muted 2.8% annual revenue growth and eroding returns on capital, with no improvement expected in free cash flow margin. CBRE's 12% annual revenue growth lagged sector standards, and it lacks free cash flow generation while returns on capital shrink.
BC · Capital · Negative Muted revenue growth and eroding returns on capital with no free cash flow margin improvement.
CBRE · Capital · Negative Revenue growth lagged sector standards, lacks free cash flow generation, and returns on capital shrink.
PII · Capital · Negative Flat sales over five years, contracting free cash flow margin, and declining returns on capital.
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Brunswick shares rise on operational update and Freedom Boat Club expansion

Brunswick shares rose 4.2% after the company announced operational updates to improve efficiency and highlighted the continued expansion of its Freedom Boat Club. Navico Group, a division of Brunswick, announced changes at its Lowell, Michigan, facility intended to reduce fixed costs, expected to create a multi-million-dollar savings opportunity while improving manufacturing capabilities. The stock was trading at $85.25, up 4.9% from the previous close.
BC · Capital · Positive Operational updates to reduce fixed costs and improve efficiency, creating multi-million-dollar savings.
BC · Demand · Positive Continued expansion of Freedom Boat Club indicates growing customer demand for boat club memberships.
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Freedom Boat Club Opens 450th Global Location at Liberty Landing Marina

Freedom Boat Club has opened its 450th global location at Liberty Landing Marina in Jersey City, New Jersey, marking a milestone that more than doubles its footprint since Brunswick Corporation acquired the club in 2019. The new location, owned by franchisees Bev and Tom Rosella, offers views of the Statue of Liberty and the Manhattan skyline. The club now operates across 35 U.S. states, Canada, Europe, Australia, New Zealand, and the United Arab Emirates. Recent expansions include clubs in Sète and Gruissan, France, Cleveland Harbor Marina, Lake Hopatcong in New Jersey, and Hutchinson Island in Savannah, Georgia. Freedom Boat Club president Cecil Cohn said the growth reflects disciplined execution and the increasing demand for flexible boating experiences.
Freedom Boat Club · Demand · Positive Opening the 450th location and expanding globally reflects increasing demand for flexible boating experiences, directly positive for Freedom Boat Club's growth.
BC · Demand · Positive Freedom Boat Club's milestone 450th location and rapid expansion since Brunswick's acquisition indicate strong end-customer demand for boating experiences, benefiting Brunswick's marine segment.
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Navico Group Announces Operational Updates at Lowell Facility to Cut Costs and Improve Efficiency

Navico Group, a division of Brunswick Corporation, announced operational updates at its Lowell, Michigan facility aimed at reducing fixed costs, improving efficiency, and supporting long-term U.S. manufacturing. As part of the plan, Land 'N' Sea will use about 50,000 square feet of available space inside the Lowell facility for distribution operations while remaining a separate business with its own leadership and customer focus. The changes are expected to create a multi-million-dollar savings opportunity and build on progress made over the past 18 months in margin, productivity, safety, quality, and on-time delivery. Navico Group will expand insourcing, use select outside partners, and work more closely with other Brunswick divisions as part of the company's ongoing cost transformation work.
BC · Capital · Positive Navico Group's operational updates at Lowell facility are expected to create multi-million-dollar savings, reducing fixed costs and improving efficiency.
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