Benzinga | Jul 29, 2021 12:02PM EDT

Brunswick Stock Gains As Q2 Result Crushes Estimates, Boosts FY21 Guidance

* Brunswick Corp (NYSE:BC) reported second-quarter FY21 sales growth of 57.4% year-on-year, to $1.55 billion, beating the analyst consensus of $1.50 billion.

* Sales from the Propulsion segment rose 64.3% Y/Y to $649.5 million, Parts & Accessories increased 42% to $548.9 million, and Boat sales rose 79.7% to $449.1 million.

* Selling, general and administrative expenses rose 46% Y/Y to $173.6 million.

* The operating margin was 16.1%, and operating income for the quarter rose 133.8% to $250.2 million.

* The company held $599.9 million in cash and cash equivalents as of July 3, 2021. Net cash provided by operating activities amounted to $341.4 million for six months.

* Adjusted EPS of $2.52 beat the analyst consensus of $2.14.

* "The combination of strong demand and low inventory, together with continued strong boat usage through the prime boating season, which is driving high parts and accessories sales, provides enhanced visibility on our ability to deliver against our extremely favorable outlook for the remainder of 2021 and beyond," said CEO David Foulkes.

* Outlook: Brunswick sees FY21 sales of $5.65 billion -- $5.75 billion, up from the previous view of $5.4 billion - $5.6 billion, versus the consensus of $5.59 billion.

* The company expects an adjusted EPS of $8.00, up from the prior view of $7.30 - $7.60, compared to the consensus of $7.69.

* Price action: BC shares are trading higher by 3.95% at $101.28 on the last check Thursday.