Brunswick Corporation reports developments across its marine recreation portfolio, including Mercury Marine propulsion, Brunswick Boat Group brands such as Boston Whaler and Sea Ray, Navico Group electronics and electrical systems, and Freedom Boat Club. Recurring news includes quarterly earnings releases, conference-call schedules, common stock dividends, boat show retail and engine-share updates, and product launches for outboards, marine displays, controls and autonomous boating systems.
Company updates also cover acquisitions within the Freedom Boat Club network, dealer and customer financing arrangements for Mercury products, leadership changes at boat brands, tariff and manufacturing commentary, and collaborations that apply Brunswick vessels, propulsion and marine electronics to uncrewed surface vessel platforms.
Brunswick Corporation achieved significant success at the Cannes Boat Show, with Mercury Marine recording a 65% outboard market share, a notable increase from 2021. Mercury’s outboard engines were showcased extensively during the event. Additionally, Sea Ray reported nearly a 30% revenue increase compared to the previous year. The event also highlighted the growing interest in Navico Group’s products. Brunswick continues to be recognized for its commitment to diversity and inclusion, reflecting its status as a top workplace.
Brunswick Corporation (NYSE: BC) announced the formation of Navico Group, integrating its Advanced Systems Group with recent acquisitions Navico and RELiON Battery LLC. Led by Brett Dibkey, Navico Group will serve marine, RV, and industrial markets, featuring brands like Lowrance, Simrad, and Mastervolt. CEO Dave Foulkes emphasized that this move strengthens their position as a leader in integrated systems. The group will have four strategic business units focused on Power Systems, Digital Systems, Fishing Systems, and Performance Components, supporting global operations through regional leadership.
Brunswick Corporation (NYSE: BC) announced its second quarter 2022 financial results on July 28, 2022. The full financial results press release is available on the company's website. A conference call is scheduled for the same day at 10 a.m. CDT, featuring key executives discussing the results. Investors can access the call via telephone or online, with a replay available until August 4, 2022. Brunswick continues to focus on growth through innovative products and strategic acquisitions, while also highlighting potential risks including market conditions and supply chain disruptions.
Boateka, Brunswick Corporation’s certified pre-owned boat business, has officially opened a new 22,000-square-foot refurbishment and sales center in Merritt Island, Florida. This facility aims to enhance the boat-buying experience and provide synergies with Brunswick's other divisions. Boateka has experienced growth due to increased demand from customers seeking a simplified buying platform, with a focus on transparency and comprehensive inspections. The new center allows for complete in-house operations, including boat reconditioning and sales.
Mercury Marine, part of Brunswick Corporation (NYSE:BC), announced a partnership with Alliant Energy to construct a 5-megawatt solar array in Fond du Lac County, Wisconsin. The project, known as the Ledgeview Solar Project, aims to enhance sustainability by offsetting 10% of Mercury's electricity use at its campus. It will feature over 12,000 solar panels, enough to power approximately 1,300 homes annually. Construction is slated for spring 2023, with operations starting in October 2023, reinforcing Mercury’s commitment to derive 50% of its electricity from renewable sources by 2030.
The Board of Directors of Brunswick Corporation (NYSE: BC) has declared a quarterly dividend of $0.365 per share, payable on September 15, 2022, to shareholders on record as of August 24, 2022. This decision reflects the Board's confidence in the company and its commitment to returning capital to shareholders. The company has reported improved liquidity and continues to execute its strategic plans, addressing record demand and supporting global channel partners.
Brunswick Corporation (NYSE: BC) will announce its second quarter 2022 financial results on July 28, 2022, prior to market opening. The complete results will be accessible on their website and through the SEC's Form 8-K filing. A conference call will take place at 10 a.m. CDT, featuring executives David M. Foulkes, Ryan M. Gwillim, and Neha J. Clark. The call can be accessed via telephone or through their website for streaming. A replay will be available until August 4, 2022.
Brunswick Corporation (NYSE: BC) has been recognized as a finalist for the 2022 Maverick Award in the Adobe Experience Maker Awards. This award honors innovation in customer experiences utilizing Adobe Experience Cloud solutions. Brunswick, home to a diverse portfolio including Mercury Marine and Freedom Boat Club, emphasizes its commitment to enhancing consumer interactions through an integrated digital and physical experience. Voting for the Maverick Award is open until June 14, with winners announced during a virtual gala on June 22.
Brunswick Corporation's CEO David M. Foulkes and CFO Ryan M. Gwillim are scheduled to present at the Baird 2022 Global Consumer, Technology and Services Conference on June 8, 2022. The presentation will begin at approximately 10:50 AM EDT and will be available via live webcast. Interested participants can access the webcast at https://wsw.com/webcast/baird64/bc/1574524, and presentation materials will also be posted on Brunswick's website.
Brunswick's portfolio includes leading brands in marine engines and boats.
Brunswick Corporation announced that its Freedom Boat Club is expected to surpass 50,000 memberships globally, comprising over 75,000 members. Since its acquisition in 2019, Brunswick has doubled memberships and locations, contributing significantly to its revenue. The club's recurring revenue model is expected to deliver over 40% of total earnings, aiming for 50% by 2025. Brunswick's expansion continues through new markets and franchise growth, showcasing the potential for further growth.