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Brunswick Corp — Q3+2026+Roadshow+Deck (company IR deck)
Brunswick Corp (BC) · 24 slides · Filed Oct 29, 2026
Every slide of this earnings presentation, with the text as published. Open the original deck ↗ · All BC deck slides
Slide 1 — Q3 2026 Investor Meetings
Q3 2026 Investor Meetings Brunswick Corporation
Slide 2 — Forward-Looking Statements & Non-GAAP Financial Measures
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations, plans, outlook, and future performance. These statements are based on current assumptions and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this presentation. For a discussion of factors that could cause such differences, please refer to our most recent Form 10-K and subsequent Form 10-Q filings. We undertake no obligation to update these statements to reflect events or circumstances after the date of this presentation. This presentation also includes certain non-GAAP financial measures. These measures should not be considered in isolation or as a substitute for GAAP results and may not be comparable to other similarly titled measures used by other companies. Reconciliations to the most directly comparable GAAP measures are provided in our earnings release and earnings presentation as of July 30, 2026, which are available on our website. Where forward looking non-GAAP measures are presented, reconciliations to the most directly comparable GAAP measures are not provided because doing so would require unreasonable effort. Brunswick does not provide forward-looking guidance for certain financial measures on a GAAP basis because it is unable to predict certain items contained in the GAAP measures without unreasonable efforts. These items may include restructuring, exit and impairment costs, special tax items, acquisition-related costs, and certain other unusual adjustments. Stephen Weiland – Senior Vice President & Deputy CFO Brunswick Corporation, 26125 N. Riverwoods, Mettawa, IL 60045 Phone: +1-847-383-0867 Email: [email protected] Forward-Looking Statements & Non-GAAP Financial Measures
Slide 3 — 1000+
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 3 About — Brunswick 1000+ patents since 2017 3 out of 4 most recognizable U.S. boat brands 64k+ Freedom Boat Club Memberships Globally ~50% of U.S. recreational boats are powered by Mercury Marine engines
Slide 4 — In New Zealand
In New Zealand Canada Aluminum Fish & Pontoon Premium Aluminum Fish Runabout and Deck I/O Rec Fiberglass in Spain Premium Saltwater Fish We hold the Position #1 11’-50' Outboard Saltwater Fish & SOURCE: U.S. MARKET DATA FROM SSI, 2025 FULLY CONSOLIDATED. OTHER MARKETS FROM LOCAL AVAILABLE INFORMATION SOURCES. ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 4 U.S. & Canada Outboard and Sterndrive Share, Europe Outboard Share Global High Performance & Racing Engines, Drives & Propellers Global Recreational Marine P&A Distribution Largest Boat Club Globally 4 &
Slide 5 — 100+
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 5 Unrivaled Capability and Pace; Advantaged Footprint On pace for 100+ Awards for the 5th Consecutive Year 100+ Products Launched in 2025 U.S.-based COGS 70% U.S.-focused Investment 90%
Slide 6 — $5.4B
Engine Parts & Accessories Propulsion Navico Group Boat Group Business Acceleration Industry leading portfolio positioned for growth & synergy $5.4B FY 2025 Net Sales #1 Market Share in Multiple Categories $400M FY 2025 Synergy Sales ~60% FY 2025 Recurring Earnings
Slide 7 — Navico Group
Leading Supplier — Integrated marine electronics, power management, connectivity, and other technical sub-systems ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 7 World Leader — Outboard, sterndrive, and high- performance marine propulsion systems and technologies World’s Largest — Supplier of captive marine parts and accessories and world’s largest marine distributor 17 Market-Leading — Global boat brands, serving all major segments of the high- volume recreational boat market Ecosystem of — Synergistic marine service and shared access businesses, including the world’s largest boat club Boat | $1.5B1 Navico Group | $0.8B1 Engine Parts & Accessories | $1.2B1 Propulsion | $2.2B1 Reportable Segments ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 7 1 ALL REVENUE FIGURES ARE FY 2025 AND EXCLUDE THE IMPACT OF SEGMENT ELIMINATIONS. Navico Group Propulsion Boat Group Engine Parts & Accessories Business Acceleration ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 7
Slide 8 — Q2 2026 – All Segments Grew YoY Sales for Fourth Consecutive Quarter
8 Q2 2026 – All Segments Grew YoY Sales for Fourth Consecutive Quarter ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. Engine P&A ✓Solid boater participation drove highest Q2 sales since 2022 ✓100+ bps operating margin expansion even excluding net IEEPA refund benefit, driven by strong Products growth across all regions and retail channel share gains ✓Continued distribution market gain fueling growth – Land ‘N’ Sea R12 distribution share increased 130 bps Propulsion ✓R12 46% U.S. outboard share with strong wholesale share gains continuing YTD ✓International market share gains with significant increases in Latin America and Asia ✓Five new outboard engine programs on track ✓Primed for growth in repower, government and commercial markets ✓U.S. outboard pipeline down ~7% YoY and ~10% sequentially, setting up strong pull through for market growth
Slide 9 — Q2 2026 – All Segments Grew YoY Sales for Fourth Consecutive Quarter
9 Q2 2026 – All Segments Grew YoY Sales for Fourth Consecutive Quarter ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. ✓SSI June YTD U.S. boat industry retail down ~4%, with Brunswick internal retail performing at similar levels ✓Adjusted for rationalized value models, U.S. overall 1H retail roughly flat ✓Relative strength in leading premium and core brands driving performance, reflecting intentional portfolio shift towards core and premium and contributing to 100+ bps operating margin expansion ✓U.S. premium fiberglass and core 1H retail flat ✓Freedom Boat Club achieved milestone 450 global network locations; 1H trips up a record 13% Boat1 1BOAT SEGMENT INCLUDES BUSINESS ACCELERATION. ✓Fourth consecutive quarter of YoY sales growth from well-received new products, OEM wins, and strong retail channel sales ✓250+ bps operating margin expansion, even excluding net IEEPA refund benefit, reflecting multiple business improvement actions ✓Signed Simrad AutoCaptain OEM application agreement with Saxdor with more advancing Navico Group
Slide 10 — 4 of 5
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 10 Continuing to Redefine What’s Possible in Marine Propulsion 4 of 5 Mid-to-High-HP Programs Launching in Next 2 Years Introduction of the New V6 / V8 Outboard Family Lightest 400hp Outboard in the Industry Industry Defining V12 600hp with 2-Speed Transmission & Steerable Gearcase World’s First V10 Outboards 2018 2019 2021 2022 2025 Evolution of the V10 Outboard Since 2018: 600 Patents & $700M+ of R&D Investment
Slide 11 — A Global Leader in Marine Recreation & Technology
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 11 A Global Leader in Marine Recreation & Technology CN 6% US 66% AP 6% EU 16% ROW 6% World Headquarters Mettawa, IL USA Headquartered in Mettawa, IL, a northern suburb of Chicago, Brunswick is present in 26 countries with sales in ~150 countries around the world. 2026 Q2 Revenue Mix
Slide 12 — ~3x
Strategy Aligned with Market Trends – Outgrowing the New Boat Market ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 12 • Driving additional share gains in engines, boats, and Navico Group products • Increasing share of wallet on every boat with more content and integrated systems • Shaping our portfolio towards secular trends (higher HP engines, more electronics) ~3x Boat market dollar value increase since 2010 • Leaning into the most robust boat categories – premium, fishing, and adventure • Rationalizing participation in softer value fiberglass segment & reimagining entry level • Driving more Brunswick boats and content into the Freedom fleet • Growing unique new pathways to the water (Freedom, Flite, CPO) 0 50 100 150 200 250 300 350 $0 $2 $4 $6 $8 $10 $12 $14 $16 2012 2020 2025E Market Value ($B) New Boat Units Dollars U.S. Annual New Boat Sales U.S. Market Size ($B) U.S. New Boat Retail Units (000s) Units Premiumization & Inflation
Slide 13 — 7M+
• Expanding presence in the CPO market (Boateka) • Expanding finance, insurance, and warranty offerings (e.g. full boat exclusionary warranty) • Pursuing M&A that over-indexes to boating participation • Accelerating commercial and government activity, including through USVs Strategy Aligned with Market Trends – Capitalizing on Strong Participation ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 13 7M+ U.S. boat park units >16’ supports P&A business • Growing P&A through higher outboard share and more captive parts • Growing aftermarket presence (Navico Group 60% aftermarket) • Growing Mercury repower share to mirror leading OEM share • Continuing to expand Freedom Boat Club, domestically and internationally 6,000 2012 2020 2024 U.S. Boating Registrations (000s) Brunswick Portfolio Traditional Power Boats 10,000 11,500 U.S. Boating Participation Steady total boat park of ~10M units; increasing registrations within active BC segments
Slide 14 — $80M+
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 14 Advancing our Footprint in Commercial, Government, and Defense $80M+ Commercial, government, and defense growth from 2025-2030 Incremental Revenue $20M+ Growth in operating profit from 2025-2030 Profitable Expansion Unique right-to-win with bow- to-stern product offerings Proven capability for demanding mission environments Leverage unique bow-to-stern capabilities into adjacent markets Comprehensive portfolio of commercial marine products Trusted government and defense partner Capitalize on rapid growth of USVs ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 14
Slide 15 — 15 Boating Industry Top Product Awards in 2026
15 Boating Industry Top Product Awards in 2026 A New Record for Brunswick ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 15 Boston Whaler 330 Outrage Harris Sunliner Lowe LF Pontoon Lund Crossover XS NAVAN T30 Princecraft Platinum 190 Princecraft Vogue 25 WRL Sea Ray SLX 360 Outboard Thunder Jet Rush OT Fliteboard RACE Mercury Boost Mercury Keyless System B&G Zeus SRX Chartplotter Lowrance ActiveTarget 2 XL Simrad AutoCaptain
Slide 16 — Financial
Financial Profile ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 16
Slide 17 — $35M
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 17 Q2 2026 ✓ Sales and Adjusted1 EPS up over Q2 2025 and ahead of expectations ✓ Strong performance from market-leading products and balanced portfolio Adjusted1 EPS (+34% vs. Q2 2025) $1.56 1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY’S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. Net Sales (+8% vs. Q2 2025) $1.6B Shares Repurchased YTD $35M ✓Q2 sales increased for all segments vs. prior year ✓Core performance well ahead of expectations; supplemented by partial IEEPA refund ✓Excluding net IEEPA refunds, margin expanded in all segments except Propulsion, which was impacted by incremental YoY tariffs and product spend ✓Pipelines extremely healthy; boat pipeline vs. Q2 2025: ✓Global boat pipeline down ~1,800 units ✓U.S. boat pipeline down ~1,300 units $278M Free Cash Flow1 250%+ Conversion
Slide 18 — $5.7B to $5.8B
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 18 BRUNSWICK CORPORATION – EARNINGS RELEASE 2026 Guidance 1 Revenue $5.7B to $5.8B $4.35 to $4.75 ~8.0% $400M+ $1.4B to $1.5B $1.20 to $1.40 Operating Margin EPS Free Cash Flow Q3 Revenue Q3 EPS 1EACH ON AN “AS ADJUSTED” BASIS WHERE APPLICABLE. Previously: $5.65B to $5.8B Previously: 7.5% to 8.0% Previously: $4.00 to $4.50 Previously: $350M+ BRUNSWICK CORPORATION – EARNINGS RELEASE Includes IEEPA refunds net impact
Slide 19 — $8.00 -
Brunswick is the Best Investment Option in Consumer Recreation World’s Largest Recreational marine company with leading brands $8.00 - $12.00 EPS ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 19 10% - 13% Operating Margin $550M+ Free Cash Flow Strategic Plan Targets 145K - 160K U.S. New Boat Retail Unit Market Unique Integrated operating model drives synergies and ecosystem value Industry-leading Product, innovation, execution, and talent Above-market Revenue and earnings growth Strong Through-cycle earnings and cash flow from balanced portfolio Sector-leading Shareholder returns
Slide 20 — ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED.
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 20 Shareholder Return 14 Consecutive Years of Dividend Increases $1.7B Share Repurchases (since 2019)1 Net Income Returned to Shareholders (since 2019) ~70% 41% LTM Stock Price Appreciation1 110% Total Shareholder Return (since 2019)1 2 1 PERFORMANCE AS OF 8/19/2026. 2 FOCUSED MARINE STRATEGY EXECUTION BEGAN JULY 2019.
Slide 21 — Appendix
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 21 Appendix
Slide 22 — 2026 Adjusted EPS Midpoint Bridge1
1SEE THE APPENDIX TO THIS PRESENTATION AND TODAY'S FORM 8-K FOR RECONCILIATIONS TO GAAP FIGURES. ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 2026 Adjusted EPS Midpoint Bridge1 $4.10 $4.25 $4.55 FY 2026 Guidance Midpoint - Jan FY 2026 Guidance Midpoint - Apr Q2 Overperformance Net IEEPA Refunds Inflation / Tariff Changes FY 2026 Guidance Midpoint - Jul $4.55 EPS guidance midpoint, up 39% from 2025 ✓Strong across-the-board sales and earnings performance ✓Steady OEM orders across all businesses ✓Outstanding P&A and Navico Group aftermarket performance ✓Net IEEPA benefits from Q2 and anticipated in 2H ✓Ability to offset anticipated 2H material inflation and increased tariffs as Section 301 replaces 122 Adjusted EPS guidance increasing: 22
Slide 23 — 2026 Outlook – Segment Guide1
Propulsion Engine P&A Navico Group Boat High Single-Digit Percent Previously: M-HSD% Mid Single-Digit Percent Previously: L-MSD% Mid Single-Digit Percent High Single-Digit Percent Up 100+ Basis Points Previously: Up 40+ bps ~20% Up 200+ Basis Points Previously: Up 100+ bps Up 100+ Basis Points ©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 23 2026 Outlook – Segment Guide1 Revenue Growth Guide2 Operating Margin Guide 1EACH ON AN “AS ADJUSTED” BASIS WHERE APPLICABLE, VERSUS COMPARABLE PRIOR YEAR. 2SEGMENT NET SALES GUIDANCE FIGURES ARE EXCLUSIVE OF SEGMENT ELIMINATIONS.
Slide 24 — 2026 Outlook – Capital Strategy and Other Assumptions1
©2026 BRUNSWICK CO. CONFIDENTIAL AND ALL RIGHTS RESERVED. 24 Debt Retirement Average Diluted Shares Outstanding Net Interest Expense Effective Tax Rate As Adjusted2 Net Working Capital Generation $160M+ ~65.5M ~$95M ~22% ~$50M 2026 Outlook – Capital Strategy and Other Assumptions1 Capital Expenditures Share Repurchases Depreciation3 Positive Currency Impact Net Incremental Tariff Impact ~$200M $50M+ ~$225M ~$25M ~$40M 1EACH ON AN “AS ADJUSTED” BASIS WHERE APPLICABLE. 2TAX PROVISION, AS ADJUSTED FOR SPECIAL TAX ITEMS. 3REFLECTS DEPRECIATION ONLY; EXCLUDES ~$75M OF TOTAL INTANGIBLE ASSET AMORTIZATION. ONLY PURCHASE ACCOUNTING AMORTIZATION IS ADJUSTED WITHIN THE NON-GAAP OPERATING EARNINGS RECONCILIATIONS FOUND IN THE APPENDIX. Previously: $15M - $25M Previously: $35M - $45M Previously: ~$160M