Brunswick Q2 GAAP EPS $1.55, adj $1.80; cuts FY24 guidance to $5.00-$5.50 adj EPS

BRUNSWICK CORP

2024-Q2 EPS reported $2.47 revenue$2,808,900,000

Net sales $1.44B, down 15% YoY; GAAP diluted EPS $1.55, as adjusted $1.80.
Propulsion sales -21%, Boat segment -23%; Engine P&A +2%, Navico Group -8%.
FY24 guidance lowered: net sales $5.2-$5.4B, adj EPS $5.00-$5.50, free cash flow >$350M.
CEO cites persistent high interest rates; retail unit sales now expected down ~10% vs flat.
Deployed $170M for share repurchases YTD; reducing year-end boat inventory by ~1,500 units.

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