Brunswick : Reports Fourth Quarter Results

Q4 2015 Exhibit 99_1

Brunswick Corporation 1 N. Field Court Lake Forest, IL 60045 Telephone 847.735.4700 Facsimile 847.735.4750‌‌‌‌‌

Release: IMMEDIATE Contact: Bruce Byots

Vice President - Investor Relations

Phone: 847-735-4612

Contact: Daniel Kubera

Director - Media Relations and Corporate Communications Phone: 847-735-4617

Email: daniel.kubera@brunswick.com

Brunswick Reports Fourth Quarter and Full-Year Results Full-Year Results: 7% Growth in Revenue; 11% Increase on a Constant Currency Basis, and 21% Growth in Diluted EPS, as Adjusted 2016 Guidance, including Cybex Acquistion: Growth in Revenue of 9% to 11% and Diluted EPS, as adjusted, of $3.35 to $3.50

LAKE FOREST, Ill., Jan. 28, 2016 -- Brunswick Corporation (NYSE: BC) today reported results for the fourth quarter and full-year of 2015.

2015 Full-Year Highlights:

• Consolidated net sales increased 7 percent versus 2014; 11 percent growth on a constant currency basis.

• Adjusted operating earnings increased by 18 percent from 2014. On a GAAP basis, operating earnings were up one percent.

• Adjusted pretax earnings increased by 20 percent. On a GAAP basis, pretax earnings were up 9 percent.

• Effective tax rate reflects recently enacted R&D tax credit, a $0.06 benefit to 2015 diluted EPS, as adjusted.

• 2015 diluted EPS, as adjusted, of $2.93, increased by 21 percent versus 2014. On a GAAP basis, diluted EPS of $2.41, increased by 18 percent.

"Our results in 2015 represent the sixth consecutive year of strong improvements in operating performance," said Brunswick Chairman and Chief Executive Officer Dustan

1. McCoy. "These outstanding results reflect the strong execution of our business strategy by our global workforce.

   
   

   "Our full-year revenues increased by 7 percent; 11 percent on a constant currency basis. Our top line reflected strong growth rates in fiberglass sterndrive/inboard and outboard boats, outboard engines and marine parts and accessories. This growth also included solid performance in fitness equipment. Solid market demand, higher average marine selling prices, benefits from acquisitions completed in 2014 and 2015 and continued market share gains drove sales growth.

   
   

   "Adjusted operating earnings in 2015 increased by 18 percent as compared to the prior year, resulting in an adjusted operating margin increase of 100 basis points. Diluted earnings per common share, as adjusted, increased by 21 percent. This strong earnings growth was also supported by benefits from cost reductions and savings related to sourcing initiatives and a more favorable product mix, partially offset by the unfavorable effects of foreign exchange," McCoy said.

   Discontinued Operations

   
   

   On Sept. 18, 2014, and May 22, 2015, the Company completed the sale of its Retail Bowling and Bowling Products businesses, respectively. As a result, the historical and future results of these businesses are reported as discontinued operations and the historical and future results of the Billiards business, which remains part of the Company, are now reflected in the Fitness segment. Therefore, for all periods presented in this release, all figures and outlook statements incorporate these changes and reflect continuing operations only, unless otherwise noted.

   
   

   2015 Full-Year Results

   
   

   For the year ended Dec. 31, 2015, the Company reported net sales of $4,105.7 million, up from $3,838.7 million in 2014. For the year, operating earnings were $331.7 million, which included a $82.3 million pension settlement charge and $12.4 million of restructuring, exit and impairment charges. In 2014, the Company reported operating earnings of $328.5 million, which included a $27.9 million pension settlement charge and $4.2 million of restructuring, exit and impairment charges.

   
   

   For 2015, the Company reported net earnings of $227.4 million, or $2.41 per diluted share, compared with net earnings of $194.9 million, or $2.05 per diluted share, for 2014. The diluted EPS for 2015 included a $0.54 per diluted share pension settlement charge; $0.11 per diluted share of restructuring, exit and impairment charges and a

   $0.13 per diluted share benefit from special tax items. The diluted EPS for 2014 included a $0.21 per diluted share impairment charge for a marine equity method investment; $0.19 per diluted share of a pension settlement charge; $0.04 per diluted

   share of restructuring, exit and impairment charges and a $0.07 per diluted share benefit from special tax items.

   
   

   Fourth Quarter Highlights:

   
   

   • Consolidated net sales increased 5 percent versus fourth quarter 2014; 9 percent on a constant currency basis.

   • Gross margin was 80 basis points higher versus prior year.

     
     

   • Adjusted operating earnings increased $25.0 million, or 59 percent, from fourth quarter 2014. On a GAAP basis, operating loss of $27.0 million.

   • Adjusted pretax earnings increased $22.5 million, or 56 percent. On a GAAP basis, pretax loss of $31.8 million.

   • Diluted EPS, as adjusted, of $0.52. On a GAAP basis, diluted EPS of $(0.10).

Fourth Quarter Results

For the fourth quarter of 2015, the Company reported net sales of $986.1 million, up from $938.6 million a year earlier. For the quarter, the Company reported an operating loss of $27.0 million, which included a $82.3 million pension settlement charge and

$12.4 million of restructuring, exit and impairment charges. In the fourth quarter of 2014, the Company had operating earnings of $14.6 million, which included a

$27.9 million pension settlement charge and $0.2 million of restructuring, exit and impairment charges.

For the fourth quarter of 2015, Brunswick reported a net loss of $9.0 million, or

$(0.10) per diluted share, compared with a net loss of $2.3 million, or $(0.03) per diluted share, for the fourth quarter of 2014. The diluted EPS for the fourth quarter of 2015