Brunswick Corp. yesterday released preliminary financial results for its fiscal second quarter. The company reported revenue of approximately $1.7 billion, which is below expectations because of a cyberattack that occurred in June.
Earnings per share during the quarter were $1.85 to $1.90, and adjusted earnings per share were in the range of $2.30 to $2.35. The company reported strong free cash-flow generation.
“The second quarter financial impact of the production and distribution disruption was felt almost entirely within our Propulsion and Engine P&A segments, and while our facilities and systems are now fully operational, because of the proximity of the disruption to the end of the quarter, there was limited opportunity to recover in the period,” CEO David Foulkes said in a statement.
“As we look to the balance of the year, we see opportunity to recover some of the losses, but the lost production of high-horsepower outboard engines will be difficult to compensate because we plan to be in full production for the balance of the year with limited ability to overdrive,” Foulkes added.
Brunswick will provide more details on its second quarter and full-year outlook during a July 27 earnings call.
