Brunswick Corp. reported another record quarter — its fifth consecutive — posting net sales of $1.42 billion in the third quarter, a 16 percent increase ($194 million) compared with the same period a year prior.
“Despite challenging comparisons to last year, retail demand for our products remains extremely healthy,” CEO David Foulkes told investors during an earnings webcast yesterday.
Brunswick’s propulsion segment reported a 19 percent increase in sales to $626.9 million. The company said that it continued to make market share gains in the United States and abroad — non-U.S. propulsion sales are up 35 percent for the year — with the sharpest percentage in the higher-horsepower segment.
The Parts and Accessories segment continued to perform well, posting a 7 percent increase in sales to $494 million. During the quarter, P&A acquired RELiON Battery and SemahTronix, expanding its offerings in lithium power and wiring harnesses.
With a 22 surge in revenue, the Boat Group was the biggest mover, with $401.5 million in sales for the third quarter. Brunswick attributed the gain to increased deliveries to dealers to meet continued retail demand.
Freedom Boat Club contributed about 3 percent of the Boat Group’s revenue, which Brunswick expects to increase. During the quarter, the company announced it had acquired the Connecticut operation and territory. Freedom now counts 320 locations and 47,000 memberships.
“As we close out 2021, we are focused on elevating production levels across our manufacturing footprint to meet demand and refill field inventory during the retail off-season, integrating Navico and our other acquisitions, and closing the most successful year in Brunswick’s history while laying the groundwork for … 2022 and beyond,” Foulkes said.
