Brunswick Corporation (NYSE: BC), today, released its fourth
quarter and full year 2023 financial results. A complete and
full-text financial results press release is available on the
Company’s website at https://ir.brunswick.com. The
results will also be available on the SEC’s website with the Form
8-K filing of the release at http://goo.gl/wJQN1.
The Company will hold a conference call at 10 a.m. CST/ 11 a.m.
EST, today, Thursday, February 1, 2024, hosted by David M. Foulkes,
chief executive officer, Ryan M. Gwillim, executive vice president
and chief financial officer and Neha Clark, senior vice president,
enterprise finance. A copy of the presentation to be used on
this call will be available when the results are released as noted
above.
Security analysts and investors wishing to participate via
telephone should call 877-900-9524 (No Password Needed).
Callers outside of North America should call 412-902-0029 (No
Password Needed) to be connected. These numbers can be
accessed 15 minutes before the call begins, as well as during the
call.
To listen via the Internet, go to www.brunswick.com/investors.
Please go to the website at least 15 minutes before the call to
register, download and install any needed audio software.
A replay of the conference call will be available through 1pm
CST Thursday February 8, 2024, by calling 877-660-6853 or
201-612-7415 (Access ID: 13743636). The replay also will be
available at www.brunswick.com/investors.
About Brunswick Corporation:
Brunswick Corporation (NYSE: BC) is the global leader in marine
recreation, delivering innovation that transforms experiences on
the water and beyond. Our unique, technology-driven solutions
are informed and inspired by deep consumer insights and powered by
our belief that “Next Never Rests™”. Brunswick is dedicated to
industry leadership, to being the best and most trusted partner to
our many customers, and to building synergies and ecosystems that
enable us to challenge convention and define the future. Brunswick
is home to more than 60 industry-leading brands. In the category of
Marine Propulsion, these brands include, Mercury Marine, Mercury
Racing, MerCruiser, and Flite. Brunswick’s comprehensive collection
of parts, accessories, distribution, and technology brands includes
Mercury Parts & Accessories, Land ‘N’ Sea, Lowrance, Simrad,
B&G, Mastervolt, RELiON, Attwood and Whale. Our boat brands are
some of the best known in the world, including Boston Whaler, Lund,
Sea Ray, Bayliner, Harris Pontoons, Princecraft and Quicksilver.
Our service, digital and shared-access businesses include Freedom
Boat Club, Boateka and a range of financing, insurance, and
extended warranty businesses. While focused primarily on the marine
industry, Brunswick also successfully leverages its portfolio of
advanced technologies to deliver an exceptional suite of solutions
in mobile and industrial applications. Headquartered in
Mettawa, IL, Brunswick has more than 17,000 employees operating in
25 countries. In 2023, Brunswick was named by Forbes as a World’s
Best Employer and as one of America’s Most Responsible Companies by
Newsweek, both for the fourth consecutive year. For more
information, visit www.Brunswick.com.
Forward-Looking Statements
Certain statements in this news release are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements are based on current
expectations, estimates, and projections about Brunswick’s business
and by their nature address matters that are, to different degrees,
uncertain. Words such as “may,” “could,” “should,” “expect,”
"anticipate," "project," "position," “intend,” “target,” “plan,”
“seek,” “estimate,” “believe,” “predict,” “outlook,” and similar
expressions are intended to identify forward-looking statements.
Forward-looking statements are not guarantees of future performance
and involve certain risks and uncertainties that may cause actual
results to differ materially from expectations as of the date of
this news release. These risks include, but are not limited to: the
effect of adverse general economic conditions, including the amount
of disposable income consumers have available for discretionary
spending; fiscal and monetary policy concerns; adverse capital
market conditions; changes in currency exchange rates; higher
energy and fuel costs; competitive pricing pressures; interest-rate
risk related to our debt; the coronavirus (COVID-19) pandemic and
the emergence of variant strains; actual or anticipated increases
in costs, disruptions of supply, or defects in raw materials,
parts, or components we purchase from third parties, including as a
result of pressures due to the pandemic; supplier manufacturing
constraints, increased demand for shipping carriers, and
transportation disruptions; managing our manufacturing footprint;
adverse weather conditions, climate change events and other
catastrophic event risks; international business risks,
geopolitical tensions or conflicts, sanctions, embargoes, or other
regulations; our ability to develop new and innovative products and
services at a competitive price; our ability to meet demand in a
rapidly changing environment; loss of key customers; absorbing
fixed costs in production; risks associated with joint ventures
that do not operate solely for our benefit; our ability to
integrate acquisitions, including Navico, and the risk for
associated disruption to our business; the risk that unexpected
costs will be incurred in connection with the Navico transaction or
the possibility that the expected synergies and value creation from
the transaction will not be realized or will not be realized within
the expected time period; our ability to successfully implement our
strategic plan and growth initiatives; attracting and retaining
skilled labor, implementing succession plans for key leadership,
and executing organizational and leadership changes; our ability to
identify, complete, and integrate targeted acquisitions; the risk
that strategic divestitures will not provide business benefits;
maintaining effective distribution; risks related to dealers and
customers being able to access adequate financing; requirements for
us to repurchase inventory; inventory reductions by dealers,
retailers, or independent boat builders; risks related to the
Freedom Boat Club franchise business model; outages, breaches, or
other cybersecurity events regarding our technology systems, which
could affect manufacturing and business operations and could result
in lost or stolen information and associated remediation costs; our
ability to protect our brands and intellectual property; changes to
U.S. trade policy and tariffs; any impairment to the value of
goodwill and other assets; product liability, warranty, and other
claims risks; legal, environmental, and other regulatory
compliance, including increased costs, fines, and reputational
risks; changes in income tax legislation or enforcement; managing
our share repurchases; and risks associated with certain divisive
shareholder activist actions.
Additional risk factors are included in the Company’s Annual
Report on Form 10-K for 2021 and insubsequent Quarterly Reports on
Form 10-Q. Forward-looking statements speak only as of the date on
which they are made, and Brunswick does not undertake any
obligation to update them to reflectevents or circumstances after
the date of this news release.
Lee
Gordon —
Vice President – Corporate Communications, Public Relations & Public Affairs
M: (904) 860-8848 | O: (847) 735-4003
Brunswick (NYSE:BC)
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