Brunswick Corp falls on revised FY profit and rev forecasts

Brunswick

27/10/2022 16:24

** Shares of Brunswick Corp  BC.N  fall ~3% to $69.75 after
the boat maker revises its FY22 revenue and EPS forecast to the
lower end of its previous outlook range
    ** Co now sees full-year profit at $10 per share, the lower
end of its prior outlook range of $10-$10.30 per share
    ** Sees FY revenue at $6.9 bln, compared to prior view of
$6.9 bln to $7.1 bln
    ** The revised forecasts are below Wall Street estimates of
$10.21 per share on revenue of $7 billion, according to
Refinitiv IBES
    ** Co faces headwinds from unfavorable foreign currency
exchange rates, cost inflation, supply chain disruptions and
medium-term impacts from Hurricane Ian   
    ** Co posts Q3 adjusted profit per share of $2.67 vs
estimate of $2.64 
    ** Earlier this year, BC integrated two of its 2021
acquisitions with its legacy Advanced Systems Group (ASG), to
form nautical integrated systems maker Navico Group  urn:newsml:reuters.com:*:nGNE7VBtKV
    ** 14 of 16 brokerages rate the stock 'buy' or higher and 2
'hold'; median PT is $98.50 - Refinitiv IBES
    ** Including session moves, the stock falls ~31% YTD   
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))