Brunswick Corporation reported a net loss of $235.5 million for the third quarter of 2025, a significant decline from a net profit of $44.6 million in the same period last year. The company's revenue for the quarter reached $1.36 billion, marking a 6.8% increase from $1.27 billion in the third quarter of 2024. However, for the nine months ending September 27, 2025, total revenue decreased by 1.3% to $4.03 billion compared to $4.08 billion in the prior year. The decline in profitability was attributed to substantial restructuring and impairment charges totaling $333.8 million, primarily related to the Navico Group segment.
The company experienced notable changes in its operational metrics, with a significant increase in selling, general, and administrative expenses, which rose to $215.8 million from $180.7 million year-over-year. Research and development expenses also saw a slight increase, totaling $43.4 million compared to $41.7 million in the previous year. The restructuring efforts included the consolidation of fiberglass boat manufacturing operations, with plans to exit facilities in Reynosa, Mexico, and Flagler Beach, Florida, by mid-2026. This strategic move aims to streamline operations and improve efficiency.
Brunswick's Propulsion segment reported a 10.2% increase in net sales to $535.4 million, driven by strong OEM orders and market share gains. The Engine Parts and Accessories (P&A) segment also saw an 8.2% increase in sales, totaling $363.7 million, benefiting from favorable weather conditions and market share growth. Conversely, the Navico Group segment faced challenges, reporting a slight sales increase of 1.5% but incurring significant impairment charges that led to an operating loss of $328.9 million. The Boat segment's sales increased by 4.3% to $360.2 million, although it experienced a decline in operating earnings.
Looking ahead, Brunswick Corporation anticipates continued challenges due to macroeconomic factors, including rising interest rates and trade policy uncertainties. The company is focused on reducing debt by approximately $200 million and maintaining a capital expenditure budget of $150 million for the year. Brunswick's total liquidity as of September 27, 2025, was reported at $1.30 billion, reflecting a solid cash position despite the recent losses. The company remains committed to leveraging its strong brand portfolio and operational efficiencies to navigate the current market landscape.
About BRUNSWICK CORP
Brunswick Corporation is a global leader in recreational marine products, designing, manufacturing, and marketing boats, marine propulsion systems, parts, and accessories. Its key segments include Propulsion, Engine Parts & Accessories, Navico marine electronics, and Boat manufacturing. Serving boat builders, dealers, and consumers worldwide, Brunswick offers integrated solutions, including the largest boat club network, leveraging technology, quality brands, and extensive distribution to enhance boating experiences and participation.
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