Brunswick Corporation (BC) · Q2 2026 results and valuation

At −7.7% growth a year (3-year revenue growth), the model's fair value is $3.86 a share — the stock trades 1930% above it. Today's price assumes 6.9% growth a year.

1. Guidance

   The company expects continued strong margin expansion over the remainder of the year.

   Source quote

   “And we expect continued strong margin expansion over the remainder of the year.”

2. Figure

   Net sales increased 8% year-over-year to $1.6 billion because pricing actions driven growth across all segments.

   Source quote

   “Our overall net sales of $1.6 billion increased 8% year-over-year, with growth across all segments driven by pricing actions taken...”

3. Fading

   Net sales of $1.4 billion increased 13% year-over-year with growth across all segments driven by continued market share gains.

   Source quote

   “Our overall net sales of $1.4 billion increased 13% year-over-year with growth across all segments, driven by continued market share... ...boat pipelines are down approximately 2,000 units versus last year and flat sequentially versus the end of 2025, reflecting our deliberate actions to closely match wholesale with retail. Our adjusted earnings per share of $0.70 increased 25% versus last year with strong operating leverage from higher sales more than...”

4. Fading

   Sales of sterndrive gas engines in the 200 to 400 horsepower range declined as the company shifted toward capturing market share from traditional diesel engines in larger boats.

   Source quote

   “Most of the sterndrive gas engines that we would sell typically in the 200 to 400 horsepower range, which would be the old... And we didn't even sell that many sterndrive gas engines in that power range. So we're grabbing share away from some of the traditional propulsion like diesel engines in the bigger boats.”

Management sounded noticeably less positive answering analysts than in its prepared script — a bigger drop than in 91% of calls. Scripts are polished in advance; a drop under questioning often marks the topics analysts pressed on, so the answers deserve a closer read than the script.

Sentences that drove the tone

“Now turning to Navico Group, that had another quarter of solid growth and improved profitability.”

“Our overall net sales of $1.6 billion increased 8% year-over-year, with growth across all segments driven by pricing actions taken in recent periods, improved mix, new product traction, continued healthy...”

“With year-over-year sales growth driven by steady OEM demand, continued high market share, and strong international momentum.”