Marine Industry Giant Brunswick's Q3 Sales Sink Over 6% & Cuts FY23 Outlook: Here's Why
Portfolio Pulse from Nabaparna Bhattacharya
Brunswick Corporation (NYSE:BC) reported a 6.2% YoY decline in Q3 2023 sales to $1.59 billion, missing the consensus of $1.66 billion. Adjusted EPS of $2.42 beat the analyst consensus of $2.36. The company lowered its 2023 sales guidance to $6.45 billion-$6.5 billion from the previous $6.7 billion-$6.8 billion. Adjusted EPS for 2023 is projected at approximately $9.00, down from the previous estimate of $9.50. BC shares are trading lower by 0.46% at $68.46.
October 26, 2023 | 5:01 pm
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Brunswick Corporation reported lower than expected Q3 sales and lowered its 2023 sales guidance, leading to a decrease in its stock price.
Brunswick Corporation's lower than expected Q3 sales and reduced 2023 sales guidance indicate potential challenges in its business operations, which could negatively impact investor sentiment and lead to a decrease in its stock price.
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