Brunswick’s net sales climbed more than 15% in its fourth quarter 2025 financial results.
Net sales across the full year grew 2.4%, finishing 2025 ahead of expectations with each business segment reporting sales and earnings growth in the quarter.
The organisation says sales were above prior year resulting from improved market conditions, increased wholesale shipments to its channel partners.
Pricing actions taken earlier in the year led to a lower discounting environment, and continued solid boating participation driving growth in its parts and accessories and aftermarket businesses.
Strengthening boat market
The results have enabled full-year net sales growth for the first time in three years for Brunswick, supported by a strengthening boat market in the second half of the year.
“The retail demand stabilisation in the second half of the year followed a challenging second quarter influenced primarily by tariff-induced economic uncertainty,” said David Foulkes, Brunswick chairman and chief executive officer.
US boat market unit retail sales finished the year down approximately 9% with global retail unit sales down 5%.
Propulsion segment reported the largest increase – a 23% increase in sales in the fourth quarter of 2025.
P&A up 15%
Engine Parts and Accessories segment reported a 15% increase in sales, and sales from the products business were up 7%. Distribution business sales were up 22%.
Navico Group segment had a 4% increase in sales and boat segment had an 11% increase in sales from increased wholesale boat sales and growth in the Business Acceleration business portfolio.
Freedom Boat Club continued its expansion, with network-wide gains in trips, members, and locations during the quarter and contributed approximately 10% of total segment sales.
Outlook remains flat-to-slightly up
The outlook for 2026 remains flat-to-slightly up on 2025, advised Foulkes, with net sales between $5.6 billion and $5.8 billion anticipated.
Adjusted operating margin of between 7.5 and 8% is expected with first quarter 2026 revenue of between $1.2 to $1.4 billion.
“With record low and fresh pipeline inventories in the field and retail sales significantly outpacing our wholesale activity in 2025 for both boats and engines, we are favourably set up in a range of scenarios that enable us to align our production and wholesale more closely to retail,” said Foulkes.
