US new boat retail sales ended 2024 down 18% versus 2023 for Brunswick – a performance that was slightly ahead of the corporation’s expectations. But 2025 shows early signs of optimism.
Consolidated net sales were $1,154.9 million, down from $1,361.9 million comparaed to the fourth quarter of 2023.
Boat sales were down 18% as a result of softer wholesale orders and the Engine Parts and Accessories segment saw a 5% decrease in sales.
Propulsion segment reported a 24% decrease in sales compared to the same period in 2023.
Navico Group segment reported a 1% decrease in sales as the business experienced softer marine OEM orders and continued weak RV manufacturing environment in the quarter which were mostly offset by the higher net sales in the Aftermarket business.
And Freedom Boat Club delivered another strong quarter, contributing around 12% of sales to the segment, with several new bases opening and a younger and increasingly diverse customer base joining.
For 2025, US marine industry retail unit sales are expected to be flat versus 2024.
2025 has the potential to be a year of steadily easing financial conditions.
David Foulkes
“Strong demand for premium products, together with market share gains in several categories, helped to provide a stable baseline for 2025,” explained David Foulkes, Brunswick CEO.
“2025 has the potential to be a year of steadily easing financial conditions, and while we enter the year with a cautious outlook, particularly for the first quarter, we have already launched many new products across our businesses and we remain extremely focused on delivering steady free cash flow and resilient EPS, and driving continued strong shareholder returns.”
And he said early-season boat shows showed positive momentum and sentiment. The recent boot Düsseldorf was ‘record breaking’ for Brunswick brands, in particular Quicksilver Boats which sold triple the number of units compared to the 2024 event and Sea Ray Boats which surpassed last year’s record by more than 20%.
In addition, new ACES and Boating Intelligence products, technologies, and concepts, are positioning the corporation well going into 2025.
Net sales for 2025 are expected to be between $5.2 billion and $5.6 billion with an adjusted operating margin of between 7.5% and 9%.
