Brunswick reports Q1 adjusted EPS $2.57, consensus $2.38

Reports Q1 revenue $1.74B, consensus $1.71B. "Our businesses had a strong start to the year, as continued operational strength, benefits from outstanding new products, and prudent cost management in a challenging macro-economic environment resulted in sales, margin, and EPS performance that exceeded expectations for the quarter," said CEO David Foulkes. "We experienced better than anticipated boat show results, indicating a resilient consumer, and boat field inventory levels are healthier as we enter the primary retail season. Additionally, our free cash flow performance improved by $135M versus Q1 2022, further solidifying our cash position and balance sheet, and enabling higher than planned share repurchases during the quarter. Our propulsion business delivered exceptional results, with increased high-horsepower outboard engine production, enabled by the recent capacity expansion, allowing us to increase shipments to many international customers and OEM partners. In the last five years, Mercury Marine has gained over 600 basis points of share in 150 horsepower and above outboard engine categories in the U.S., which was once again demonstrated by significant gains in the share of high-horsepower Mercury outboards on display at the large saltwater boat shows in the quarter. Strong product mix coupled with operating efficiencies resulted in record first quarter operating earnings and margins".