Yahoo Finance Brunswick (BC) To Report Earnings Tomorrow: Here Is What To Expect
Boat and marine manufacturer Brunswick (NYSE:BC) will be announcing earnings results tomorrow before market hours. Here's what you need to know.
Brunswick met analysts' revenue expectations last quarter, reporting revenues of $1.37 billion, down 21.7% year on year. It was an ok quarter for the company, with full-year revenue guidance beating analysts' expectations.
Is Brunswick a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Brunswick's revenue to decline 8.9% year on year to $1.55 billion, a further deceleration from the 7.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.90 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Brunswick has missed Wall Street's revenue estimates five times over the last two years.
Looking at Brunswick's peers in the consumer discretionary segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Carnival delivered year-on-year revenue growth of 17.7%, beating analysts' expectations by 1.9%, and Levi's reported revenues up 7.8%, in line with consensus estimates. Carnival traded up 12% following the results while Levi's was down 15.7%.
Read our full analysis of Carnival's results here and Levi's results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 9.8% on average over the last month. Brunswick is up 5.8% during the same time and is heading into earnings with an average analyst price target of $91.8 (compared to the current share price of $76.25).
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