Brunswick lowers 2006 view due weak marine product demand
07-12-2006 | 09:22 AM
#1
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From: Indianapolis, Lake Cumberland
Brunswick lowers 2006 view due weak marine product demand
Brunswick lowers 2006 view due weak marine product demand
By Michael Baron
Last Update: 8:14 AM ET Jul 12, 2006
NEW YORK (MarketWatch) -- Brunswick Corp. (BC :
30.22, -1.61, -5.1% ) Wednesday said it expects second-quarter earnings from continuing operations of 93 to 94 cents a share with sales rising 1% to roughly $1.55 billion. The current average estimate of analysts polled by Thomson First call is for a profit of 96 cents a share in the quarter. The Lake Forest, Ill., maker of marine engine products said the forecast is in the middle of its previous projection for earnings of 90 to 97 cents a share in the June period. For the second half of fiscal 2006, however, Brunswick lowered its expectations, citing significant declines in retail demand for its 2006 model year marine products that has increased inventories, forcing the company to reduce production levels. As a result of this business trend, the company, which also makes fitness equipment, as well as bowling and billiards products, now sees earnings from continuing operations of $2.40 to $2.55 a share for the full year, below its prior forecast for an equivalent profit of $3 to $3.15 a share. Both estimates exclude tax-related items. Wall Street's current consensus estimate is for a profit of $3.06 a share for the year. The stock closed Tuesday at $31.83, down 29 cents. End of Story
By Michael Baron
Last Update: 8:14 AM ET Jul 12, 2006
NEW YORK (MarketWatch) -- Brunswick Corp. (BC :
30.22, -1.61, -5.1% ) Wednesday said it expects second-quarter earnings from continuing operations of 93 to 94 cents a share with sales rising 1% to roughly $1.55 billion. The current average estimate of analysts polled by Thomson First call is for a profit of 96 cents a share in the quarter. The Lake Forest, Ill., maker of marine engine products said the forecast is in the middle of its previous projection for earnings of 90 to 97 cents a share in the June period. For the second half of fiscal 2006, however, Brunswick lowered its expectations, citing significant declines in retail demand for its 2006 model year marine products that has increased inventories, forcing the company to reduce production levels. As a result of this business trend, the company, which also makes fitness equipment, as well as bowling and billiards products, now sees earnings from continuing operations of $2.40 to $2.55 a share for the full year, below its prior forecast for an equivalent profit of $3 to $3.15 a share. Both estimates exclude tax-related items. Wall Street's current consensus estimate is for a profit of $3.06 a share for the year. The stock closed Tuesday at $31.83, down 29 cents. End of Story
07-12-2006 | 02:58 PM
#2
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From: newbugh ny
Re: Brunswick lowers 2006 view due weak marine product demand
brunswick billiards also had a slow year last year but things have been off to a good start this year. less boaters and more pool players. more people are just staying home. this makes me happy.
07-12-2006 | 03:13 PM
#5
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From: Burlington, VT
Re: Brunswick lowers 2006 view due weak marine product demand
Originally Posted by Marginmn
Brunswick lowers 2006 view due weak marine product demand
By Michael Baron
Last Update: 8:14 AM ET Jul 12, 2006
NEW YORK (MarketWatch) -- Brunswick Corp. (BC :
30.22, -1.61, -5.1% ) Wednesday said it expects second-quarter earnings from continuing operations of 93 to 94 cents a share with sales rising 1% to roughly $1.55 billion. The current average estimate of analysts polled by Thomson First call is for a profit of 96 cents a share in the quarter. The Lake Forest, Ill., maker of marine engine products said the forecast is in the middle of its previous projection for earnings of 90 to 97 cents a share in the June period. For the second half of fiscal 2006, however, Brunswick lowered its expectations, citing significant declines in retail demand for its 2006 model year marine products that has increased inventories, forcing the company to reduce production levels. As a result of this business trend, the company, which also makes fitness equipment, as well as bowling and billiards products, now sees earnings from continuing operations of $2.40 to $2.55 a share for the full year, below its prior forecast for an equivalent profit of $3 to $3.15 a share. Both estimates exclude tax-related items. Wall Street's current consensus estimate is for a profit of $3.06 a share for the year. The stock closed Tuesday at $31.83, down 29 cents. End of Story
By Michael Baron
Last Update: 8:14 AM ET Jul 12, 2006
NEW YORK (MarketWatch) -- Brunswick Corp. (BC :
30.22, -1.61, -5.1% ) Wednesday said it expects second-quarter earnings from continuing operations of 93 to 94 cents a share with sales rising 1% to roughly $1.55 billion. The current average estimate of analysts polled by Thomson First call is for a profit of 96 cents a share in the quarter. The Lake Forest, Ill., maker of marine engine products said the forecast is in the middle of its previous projection for earnings of 90 to 97 cents a share in the June period. For the second half of fiscal 2006, however, Brunswick lowered its expectations, citing significant declines in retail demand for its 2006 model year marine products that has increased inventories, forcing the company to reduce production levels. As a result of this business trend, the company, which also makes fitness equipment, as well as bowling and billiards products, now sees earnings from continuing operations of $2.40 to $2.55 a share for the full year, below its prior forecast for an equivalent profit of $3 to $3.15 a share. Both estimates exclude tax-related items. Wall Street's current consensus estimate is for a profit of $3.06 a share for the year. The stock closed Tuesday at $31.83, down 29 cents. End of Story
-These text might contain forward looking statement summarizing the intent of the administrating group but can not be relayed upon whatsoever...
07-12-2006 | 03:19 PM
#6
Frank's Marine Service
Joined: Sep 2002
Posts: 11,959
Likes: 142
From: Elkton, MD
Re: Brunswick lowers 2006 view due weak marine product demand
Can't say that I'm surprised....
The ones who say there's no effect are smokin some good stuff. This reminds me of the 2000 tech bubble all over again...
I hope I'm wrong.
The ones who say there's no effect are smokin some good stuff. This reminds me of the 2000 tech bubble all over again...
I hope I'm wrong.
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