Brunswick (BC) Reports Earnings Tomorrow. What To Expect
Stock Story
Published Apr 24, 2024 03:13AM ET
Updated Apr 24, 2024 07:01AM ET
Brunswick (BC) Reports Earnings Tomorrow. What To Expect
Boat and marine manufacturer Brunswick (NYSE:BC) will be announcing earnings results tomorrow morning. Here's what to expect.
Last quarter Brunswick reported revenues of $1.36 billion, down 14% year on year, missing analyst expectations by 5.4%. It was a weak quarter for the company, with full-year revenue guidance missing analysts' expectations.
Is Brunswick buy or sell heading into the earnings? Find out by reading the original article on StockStory, it's free.
This quarter analysts are expecting Brunswick's revenue to decline 21.7% year on year to $1.37 billion, a deceleration on the 2.8% year-over-year dcrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.35 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates four times over the last two years.
Looking at Brunswick's peers in the consumer discretionary segment, some of them have already reported Q1 earnings results, giving us a hint what we can expect. Nike (NYSE:NKE) delivered top-line growth of 0.3% year on year, beating analyst estimates by 1.1% and Carnival (NYSE:CCL) reported revenues up 22% year on year, inline with analysts' estimates. Nike traded down 7% on the results, Carnival was down 4.1%.
Read the full analysis of Nike's and Carnival's results on StockStory.
Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, and while some of the consumer discretionary stocks have fared somewhat better, they have not been spared, with share price declining 4.1% over the last month. Brunswick is down 7.4% during the same time, and is heading into the earnings with analyst price target of $95.5, compared to share price of $86.36.
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Written By: Stock Story
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