Q4 2024 Brunswick Corp Earnings Call Transcript
Key Points
- Brunswick Corp (BC) achieved significant cash generation in the fourth quarter of 2024, exceeding expectations.
- The company gained 110 basis points of US retail outboard engine market share during the year.
- Brunswick Corp (BC) completed $200 million in share repurchases in 2024, demonstrating strong capital strategy execution.
- The Freedom Boat Club had another strong quarter, expanding its locations and achieving over 600,000 annual member trips.
- The company showcased innovative new products at the Consumer Electronics Show, generating excitement and positive momentum.
- Net sales in the fourth quarter were down 15% compared to the previous year due to lower production and wholesale ordering.
- The company anticipates an annualized impact of approximately $35 million in 2025 due to tariffs.
- Adjusted operating earnings and margins declined versus the fourth quarter of 2023 due to lower net sales and decreased production levels.
- The uncertain tariff environment and foreign exchange rate fluctuations pose potential headwinds for 2025.
- Discounting and promotion levels remain elevated, particularly on prior model year products, affecting profitability.
Good morning. Welcome to Brunswick Corporation's Fourth Quarter and Full Year 2024 Earnings Conference Call. (Operator Instructions).
I would now like to introduce Neha Clark, Senior Vice President, Enterprise Finance Brunswick Corporation. Thank you. You may begin.
Good morning and thank you for joining us. With me on the call this morning are Dave Foulkes, Brunswick's CEO; and Ryan Gwillim, CFO. Before we begin with our prepared remarks, I would like to remind everyone that during the call, our comments will include certain forward-looking statements about future results. Please keep in mind that our actual results could differ materially from these expectations.
For details on these factors to consider, please refer to our recent SEC filings and today's press release. All of these documents are available on our website at brunswick.com.
During our presentation, we will be referring to certain non-GAAP financial information. Reconciliations of GAAP to non-GAAP
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