- Brunswick Corp (NYSE:BC) reported second-quarter FY22 sales growth of 18.1% year-on-year, to $1.84 billion, beating the consensus of $1.81 billion.
- Segment Sales: Propulsion increased 13% Y/Y, Parts and Accessories rose 19%, and Boat climbed 27%.
- Selling, general and administrative expenses rose 19% to $207.2 million.
- The operating margin was 15.2%, and operating income for the quarter rose 12% to $279 million.
- The company held $615.6 million in cash and equivalents as of July 2, 2022. Cash provided by operating activities for six months totaled $146.9 million.
- Adjusted EPS of $2.82 beat the analyst consensus of $2.70.
- Outlook: Brunswick sees FY22 sales of $6.9 billion – $7.1 billion (prior view $6.8 billion – $7.1 billion), against the consensus of $6.96 billion.
- The company expects FY22 adjusted EPS of $10.00 – $10.30 (prior view $9.80 – $10.30), versus the consensus of $10.16.
- It sees Q3 EPS of $2.50 – $2.65, with the consensus of $2.77.
- For Q3, the company expects revenue growth of mid-twenties percentage Y/Y and EPS of $2.50 – $2.65 (consensus $2.77).
- Price Action: BC shares closed higher by 2.90% at $76.95 on Wednesday.
Corning Collaborates With Apple For Advanced iPhone 15 Glass, Reports Q3 Sales Decline
Corning Inc (NYSE: GLW) reported a third-quarter FY23 core sales decline of 6% year-on-year to $3.46 billion, missing the
