Brunswick Corporation reported a fourth-quarter loss of $82.5 million, or $1.24 per share, which surpassed Wall Street expectations. Fourth-quarter net sales were $1.15 billion, a 15.2% decrease year-over-year, but topped market revenue expectations. Non-GAAP profit was $0.24 per share, 39.7% above analyst estimates.
For the full year 2024, net sales were $5.2 billion, an 18% decrease from 2023, but slightly ahead of recent expectations. Adjusted EPS for the full year was $4.57, a 48% decrease from 2023. The company achieved $284 million in free cash flow for the full year, with a conversion rate of 92%, and completed $200 million in share repurchases.
Mercury Marine gained 110 basis points of U.S. retail outboard engine share during 2024 and saw significant share increases at early 2025 boat shows. The U.S. new boat retail sales for 2024 ended down high single-digit percent versus 2023. Freedom Boat Club recorded over 600,000 annual member trips for the second consecutive year and expanded into new international locations.
The company anticipates an annualized tariff impact of approximately $35 million in 2025. Brunswick provided full-year 2025 adjusted EPS guidance in the range of $3.50 to $5.00 per share. This guidance reflects higher volume and cost reductions, partially offset by compensation reset and external factors.
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