Brunswick Corp
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +5.69%.
Did BC Beat Earnings? Q1 2026 Results
Brunswick Corporation kicked off 2026 with a strong first quarter, posting adjusted diluted EPS of $0.70, up 25% from $0.56 a year ago, marking the company's fourth consecutive quarter of beating consensus EPS estimates, while consolidated net sales climbed 13% year over year to $1.38 billion. The broad-based momentum was fueled most visibly by Propulsion, where a 17% sales surge to $571.30 million and a 200 basis point gain in U.S. outboard market share underscored robust OEM demand, even as incremental tariffs and new product investment weighed on segment operating earnings. Navico Group added to the story, with adjusted operating earnings jumping 64% as its ongoing turnaround gained traction. Looking ahead, management raised full-year 2026 guidance to net sales of $5.65 billion to $5.80 billion and adjusted diluted EPS of $4.00 to $4.50, with free cash flow expected at $350 million or more, while second-quarter revenue guidance of $1.45 billion to $1.55 billion signals continued confidence heading into peak selling season.
- Strong OEM demand for propulsion, components and electronics
- Continued market share gains across propulsion and several boat categories, including 200 bps increase in U.S. outboard market share
- Favorable changes in foreign currency exchange rates
- Pricing actions commencing in the second half of 2025
- Strong boating participation driving aftermarket performance
- Favorable mix and improved absorption
- Disciplined cost management offsetting incremental tariffs
- Engine Parts & Accessories benefiting from healthy boater participation and distribution share gains
- Navico Group benefiting from product portfolio optimization, operational improvements, and cost control
- Freedom Boat Club trips increased 20% year over year
“Brunswick delivered an excellent start to 2026, building on the market recovery in the second half of last year, with first quarter results ahead of expectations and prior year despite the dynamic geopolitical and tariff environment. For the third consecutive quarter, year over year net sales increased across all segments, driven by steady retail trends, continued market share gains, strong OEM demand, accelerated new product and technology introductions, and disciplined operational execution across the enterprise.”
Brunswick CEO, on the earnings call
Forward Guidance & Outlook
Brunswick raised its full-year 2026 guidance: net sales of $5.65 billion to $5.8 billion; adjusted operating margin of 7.5% to 8.0%; adjusted diluted EPS of $4.00 to $4.50; and free cash flow of $350 million or more. For Q2 2026, the company expects revenue of $1.45 billion to $1.55 billion and adjusted diluted EPS of $1.10 to $1.20. The company expects the full-year incremental net tariff impact to land near the lower end of its original $35 to $45 million estimate, with potential IEEPA tariff refunds not yet factored in. Management expects a flat-to-slightly-improving retail market environment for the remainder of 2026 and does not rely on additional rate cuts in its forecast. An Investor Day is scheduled for August 11, 2026 at Mercury Marine headquarters.
BC YoY Financials
BC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.