RTTNews | Oct 29, 2020 07:08AM EDT

07:08 Thursday, October 29, 2020 (RTTNews.com) - While reporting financial results for the third quarter on Thursday, Brunswick Corp. (BC) provided adjusted earnings guidance range for the full-year 2020. It also provided revenue growth guidance for the fourth quarter and initiated outlook for the full-year 2021.

This is based on improved clarity on wholesale boat growth, Mercury's continued propulsion strength, and favorable boating trends which are creating the parts and accessories growth needed to satisfy sales and service needs.

For fiscal 2020, the company now expects adjusted earnings of about $4.75 per share. On average, analysts polled by Thomson Reuters expect the company to report earnings of $4.28 per share for the year. Analysts' estimates typically exclude special items.

The company also expects fourth quarter revenue to increase in the low-to-mid-teens percent over last year. Analysts expect revenues to increase 10.6 percent to $1.02 billion for the quarter.

Looking ahead to fiscal 2021, the company now projects adjusted earnings in a range of $5.75 to $6.25 per share on net sales between $4.7 billion and $4.9 billion, with strong growth in the boat and propulsion segments, and steady increases in parts and accessories.

The Street is currently looking for earnings of $5.31 per share on net sales of $4.43 billion for fiscal 2021.

"While we remain very cognizant of macroeconomic headwinds and pandemic-related uncertainties, our continued strong performance in a robust marine retail environment has created improved visibility into our substantial growth opportunities for the remainder of 2020 and 2021," said CEO David Foulkes.

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