Brunswick Corporation reported strong third-quarter results for 2025, with sales growth and efficient operations credited for driving earnings and record cash generation.
Consolidated net sales reached $1.36 billion, up 6.8 per cent from the third quarter of 2024. As adjusted diluted earnings per share (EPS) were $0.97, exceeding expectations and guidance for the quarter.
David Foulkes, Brunswick Chairman and CEO, stated that each reporting segment generated revenue growth, reflecting strength across all businesses despite a challenging macro-environment.
He noted that the company's propulsion and boat portfolios outperformed their respective markets, while recurring-revenue businesses continued to benefit from healthy boating activity. Third-quarter boat retail sales were flat year-over-year, a relative improvement from the first half of the year.
The propulsion business delivered significant sales growth, with Mercury Marine maintaining its US outboard market share leadership at 49.4 per cent.
The engine parts and accessories segment saw an eight per cent increase in sales, driven by strong boater participation.
Navico Group reported modest sales growth, led by its marine electronics product lines, while the boat segment grew revenue by four per cent, with its premium brands performing well.
Brunswick generated $111 million of free cash flow in the third quarter, bringing the year-to-date total to $355 million. The company said this strong cash generation allowed it to complete $70 million in share repurchases year-to-date and increase its debt reduction target to $200 million for the year.
Based on the strong performance, Brunswick confirmed its full-year 2025 guidance for adjusted diluted EPS of approximately $3.25 on net sales of approximately $5.2 billion. The company also increased its free cash flow guidance to greater than $425 million for the year and expects annual share repurchases of at least $80 million.
Foulkes noted that while the trade and economic environment remains dynamic, the company believes it is well-positioned to benefit from an industry recovery due to operating leverage and successful tariff mitigation strategies.
