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Jun 28
Brunswick Q2 2025 Earnings Report
Brunswick posted solid Q2 2025 results with steady sales and record cash flow despite macro headwinds.
Key Takeaways
Brunswick delivered steady revenue and strong cash generation in Q2 2025, supported by propulsion growth and aftermarket resilience, although tariffs and cautious boat orders weighed on earnings.
Record Q2 free cash flow of $288 million driven by strong operations
Propulsion segment sales up 7% YoY, outperforming expectations
U.S. retail market share gains for high horsepower outboards (+300 bps)
Boat segment sales down 7% amid cautious wholesale ordering
Brunswick
Brunswick
Brunswick Revenue by Segment
Revenue by Segment
Propulsion Revenue
CapyFin.comEngine Parts & Acc. Revenue
CapyFin.comNavico Group Revenue
CapyFin.comBoat Revenue
CapyFin.com Forward Guidance
Brunswick maintained full-year sales and EPS guidance while raising free cash flow outlook, expecting steady retail trends in premium categories despite macro and tariff challenges.
Positive Outlook
- Maintained FY2025 sales and EPS guidance
- Raised FY2025 free cash flow outlook to >$400 million
- Strong recurring revenue businesses offsetting macro headwinds
- AI-driven technology initiatives progressing
- Autonomous docking system launch on track for later this year
Challenges Ahead
- Tariffs continue to pressure margins
- Challenging macro-economic environment affecting demand
- Interest rate uncertainty impacting consumers
- Cautious wholesale boat orders persist
- Navico Group and Boat segments remain below prior-year sales