Brunswick Corporation brands close out successful 2023 West Palm Beach International Boat Show

Rhea-AI Summary

Brunswick Corporation (NYSE: BC) reported strong results from the Palm Beach International Boat Show, achieving record outboard market share and increased boat sales. Mercury Marine captured over 60% of the outboard market share, marking a two-point increase from last year, particularly excelling in outboards of 200hp and above. Sea Ray experienced a significant 35% rise in unit sales and close to 80% revenue growth compared to 2022. Boston Whaler also showed increased sales and revenue. CEO Dave Foulkes noted sustained consumer interest in boating despite economic challenges, reinforcing the company's positive outlook.

Positive

• Mercury Marine achieved over 60% outboard market share, a two-point increase from 2022.
• Sea Ray's unit sales rose by more than 35% and revenue increased by nearly 80%.
• Boston Whaler reported increased sales and revenue compared to the 2022 show.
• Strong consumer interest in new boats, engines, and technology offerings maintains positive sales outlook.

Negative

• None.

METTAWA, Ill., March 28, 2023 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC) and its industry-leading brands finished off another strong Palm Beach International Boat show with record outboard market share and increased boat sales at one of the premier saltwater boat shows in the U.S.

For the second consecutive year, Mercury Marine had more than 60% outboard share at the show – this year posting a two-point increase vs. 2022, and for the second straight year, Mercury demonstrated outsized gains in the share of outboards 200hp and above.  Consistent with Mercury’s performance over the past five years at both the Miami and Ft. Lauderdale Boat Shows, more boat builders and consumers are adopting Mercury’s industry-leading lineup of outboard propulsion.

Sea Ray also had a strong show in Palm Beach with a more than 35 percent increase in units vs. 2022, and an increase of close to 80 percent in revenue, signaling strong consumer demand for its premium models. Boston Whaler also had a very solid show with increased sales and revenue compared with the 2022 show. All Boston Whaler and Sea Ray boats featured Mercury Marine engines and those sold with electronics also featured Navico Group’s Simrad display, radar and sonar products, highlighting the ever-increasing synergies across Brunswick’s brands and divisions.

“We continue to see strong consumer interest in our products and the presence of qualified and engaged buyers at early season boat shows around the world,” said Dave Foulkes, Brunswick Corporation CEO. “The desire to go boating remains strong despite economic headwinds and we continue to see a very positive response to our new boats, engines and advanced technology offerings around the world.”

About Brunswick Corporation

Brunswick Corporation (NYSE: BC) is the global leader in marine recreation, delivering innovation that transforms experiences on the water and beyond.  Our unique, technology-driven solutions are informed and inspired by deep consumer insights and powered by our belief that “Next Never Rests™.” Brunswick is dedicated to industry leadership, to being the best and most trusted partner to our many customers, and to building synergies and ecosystems that enable us to challenge convention and define the future. Brunswick is home to more than 60 industry-leading brands. In the category of Marine Propulsion, these brands include, Mercury Marine, Mercury Racing and MerCruiser. Brunswick’s comprehensive collection of parts, accessories, distribution, and technology brands includes Mercury Parts & Accessories, Land ‘N’ Sea, Lowrance, Simrad, B&G, Mastervolt, RELiON, Attwood and Whale. Our boat brands are some of the best known in the world, including Boston Whaler, Lund, Sea Ray, Bayliner, Harris Pontoons, Princecraft and Quicksilver. Our service, digital and shared-access businesses include Freedom Boat Club, Boateka and a range of financing, insurance, and extended warranty businesses. While focused primarily on the marine industry, Brunswick also successfully leverages its portfolio of advanced technologies to deliver an exceptional suite of solutions in mobile and industrial applications.  Headquartered in Mettawa, IL, Brunswick has more than 18,500 employees operating in 29 countries. In 2022, Brunswick was named by Forbes as a World’s Best Employer and as one of America’s Most Responsible Companies by Newsweek, both for the third consecutive year. For more information, visit brunswick.com.

FAQ

What were Brunswick Corporation's sales results at the Palm Beach International Boat Show in 2023?

Brunswick Corporation achieved record outboard market share and increased boat sales at the Palm Beach International Boat Show in 2023.

How much market share did Mercury Marine capture at the 2023 Palm Beach Boat Show?

Mercury Marine captured over 60% of the outboard market share, marking a two-point increase from the previous year.

What was the revenue increase for Sea Ray at the 2023 Palm Beach Boat Show?

Sea Ray reported close to an 80% increase in revenue compared to 2022.

What insights did Brunswick's CEO provide about consumer interest in boating?

CEO Dave Foulkes noted strong consumer interest in boating products, despite economic headwinds.

What were the sales results for Boston Whaler at the Palm Beach International Boat Show in 2023?

Boston Whaler experienced increased sales and revenue compared to the 2022 show.