Why Brunswick Shares Are Tumbling Today
Portfolio Pulse from Lekha Gupta
Brunswick Corp (NYSE:BC) shares dropped by around 6% after the company reported lower than expected Q2 FY23 preliminary results. The company's revenues and adjusted EPS fell short of consensus estimates. The disappointing results are attributed to an IT security incident in June. The company also revised its FY23 adjusted EPS to approximately $9.50, down from the earlier range of $9.50-$11.00. The company's CEO expressed caution regarding the second-half financial performance due to the IT security incident and anticipated continued pressure on consumers globally.
July 19, 2023 | 11:39 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Brunswick Corp's shares fell after reporting disappointing Q2 FY23 results due to an IT security incident. The company also revised its FY23 adjusted EPS downwards.
Brunswick Corp reported lower than expected Q2 FY23 results, which led to a drop in its share price. The disappointing results were attributed to an IT security incident. The company also revised its FY23 adjusted EPS downwards, which could further negatively impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100