“Gross margin increased 140 bps in the first half of 2026 when compared to the same prior year period, driven by increased sales (370 bps), IEEPA refunds (105 bps), and foreign currency exchange rate fluctuations (50 bps), partially offset by material inflatio…”10-Q · Aug 5, 2026 ↗
Brunswick Corporation
BC
Market read
Brunswick Corporation's current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 13 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
- Revenue increased 7.7% versus the comparable filing period.
- Gross-margin expansion included a 200-basis-point IEEPA refund benefit, while material, labor, and tariff costs offset part of the gain.
- Reported incremental tariffs reduced gross margin by a quantified 240 basis points in Q1 2026.
Invalidation: The isolated read changes if BC's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 13 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
- Revenue increased 7.7% versus the comparable filing period.
- Operating margin improved 1.2 percentage points.
- Net income increased 85.2% versus the comparable filing period.
No thresholded adverse filing evidence is available yet.
- Gross-margin expansion included a 200-basis-point IEEPA refund benefit, while material, labor, and tariff costs offset part of the gain.
- Reported incremental tariffs reduced gross margin by a quantified 240 basis points in Q1 2026.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Foreign exchange has repeated favorable evidence across 5 filings.
- Macroeconomic conditions has repeated favorable evidence across 5 filings.
- Restructuring and cost reductions has repeated favorable evidence across 5 filings.
- Tariffs and trade policy has repeated favorable evidence across 5 filings.
- Demand and volume has repeated favorable evidence across 4 filings.
- Input and raw-material costs has repeated favorable evidence across 4 filings.
- Labor availability and costs has repeated favorable evidence across 4 filings.
- Product pipeline and R&D has repeated favorable evidence across 3 filings.
- Operating margin changed -6.7 percentage points in the latest annual period.
- Net margin changed -5.0 percentage points in the latest annual period.
- EV/sales is 111% above the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
69.87Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“Propulsion segment's operating earnings in the second quarter of 2026 increased when compared to the second quarter of 2025 due to higher sales, IEEPA tariff refunds, and favorable absorption offset elevated material and labor inflation, including variable co…”10-Q · Aug 5, 2026 ↗
“2025 July 4, 2026 June 28, 2025 $ Change % Change July 4, 2026 June 28, 2025 $ Change % Change GAAP operating loss $ (55.9) $ (37.7) $ (18.2) (48.3)% $ (97.2) $ (71.5) $ (25.7) (35.9)% Restructuring, exit, and impairment charges 2.8 0.3 2.5 NM 2.8 0.3 2.5 NM…”10-Q · Aug 5, 2026 ↗
“Propulsion segment's operating earnings in the second quarter of 2026 increased when compared to the second quarter of 2025 due to higher sales, IEEPA tariff refunds, and favorable absorption offset elevated material and labor inflation, including variable co…”10-Q · Aug 5, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.9× · EV/sales 1.1×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for BC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment
Fundamentals strengthened in the latest filing
10-Q filed 2026-08-05 against the comparable filing from 2025-07-30.
Capital and cash conversion
Reported investment and cash context
- Capital spending YoY
- -7.8%
- Capital spending / revenue
- +2.7%
- Free-cash-flow margin
- +13.4%
- FCF margin change
- -3.5 pts
Capex, revenue, and operating cash flow are matched to the same reported duration. Reported accounting context, not a forecast or trading recommendation.
What improved
- Revenue increased 7.7% versus the comparable filing period.
- Operating margin improved 1.2 percentage points.
- Net income increased 85.2% versus the comparable filing period.
What weakened
No thresholded deterioration was identified.
Filing receipts
“The components of the consolidated net sales change were as follows: Percent change in net sales compared to the prior comparative period July 4, 2026 Three Months Ended Six Months Ended Volume 1.4 % 3.8 % Product Mix and Price 5.0 % 4.2 % Currency 1.3 % 2.0 % 7.7 % 10.0 % Gross margin increased 260 bps in the second quarter of 2026 when compared to the same prior year period, driven by increased sales (380 bps), IEEPA refunds (200 bps), lower absorption (40 bps), and favorable foreign currency exchange rate fluctuations (30 bps) offset by material inflation (195 bps), labor costs (130 bps), impact of incremental tariffs (65 bps).”
“2025 (in millions) July 4, 2026 June 28, 2025 $ Change % Change July 4, 2026 June 28, 2025 $ Change % Change Net sales $ 367.9 $ 337.8 $ 30.1 8.9% $ 657.7 $ 593.1 $ 64.6 10.9% GAAP operating earnings $ 85.6 $ 71.7 $ 13.9 19.4% $ 131.2 $ 110.8 $ 20.4 18.4% Supplier bankruptcy expense 0.2 — 0.2 NM 3.0 — 3.0 NM Restructuring, exit, and impairment charges — 0.4 (0.4) NM — 0.4 (0.4) NM Adjusted operating earnings $ 85.8 $ 72.1 $ 13.7 19.0% $ 134.2 $ 111.2 $ 23.0 20.7% GAAP operating margin 23.3 % 21.2 % 210 bps 19.9 % 18.7 % 120 bps Adjusted operating margin 23.3 % 21.3 % 200 bps 20.4 % 18.7 % 170 bps NM = not meaningful bps = basis points Engine P&A segment's net sales increased in the second q...”
“Gross margin increased 140 bps in the first half of 2026 when compared to the same prior year period, driven by increased sales (370 bps), IEEPA refunds (105 bps), and foreign currency exchange rate fluctuations (50 bps), partially offset by material inflation (150 bps), incremental tariffs (145 bps), and labor costs (90 bps).”
Historical filing backfill generated after the original filing window. It is not part of Jodie's live track record.
Business ecosystem
The relationships behind BC
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
HZOMarineMax, Inc.customerFeb 13, 2026 ▾
“In each segment, we have important relationships with key customers, including White River Marine Group, LLC for the Propulsion and Navico Group segments and MarineMax, Inc.”
Depended on by
LCIILCI IndustriescustomerFeb 26, 2026 ▾
“Major customers include Brunswick Corporation (symbol: BC), Polaris Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
BC is currently a Early Follower in the organic co-movement group Domestic Economic Cyclicals. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 2 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for BC; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.