Business Context and Reporting Period
Company: Brunswick Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: October 29, 2009
Reporting Period: Third Quarter 2009
This filing serves as a notification that Brunswick Corporation has announced its financial results for the third quarter of 2009. The detailed earnings information is contained in a news release incorporated by reference as Exhibit 99.1.
Key Financial Metrics
Revenue, Profit, Cash Flow, Margins, Debt, and Liquidity: The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are located in the referenced news release (Exhibit 99.1) and are not included in the body of this Form 8-K.
Non-GAAP Measures: The company utilizes non-GAAP financial measures, including "free cash flow," which is defined as cash flow from operating and investing activities (excluding acquisitions and investments) and excluding financing activities. Management states these measures are useful for evaluating ongoing business performance and potential cash available for future growth.
Material Changes
The filing does not detail specific material changes versus the prior comparable period. It only confirms the announcement of third-quarter 2009 results. Specific comparisons to prior periods are contained within the referenced news release.
Guidance, Outlook, and Risks
Management Commentary: Management believes the non-GAAP measures presented in the news release allow investors to view performance using the same tools used internally. The filing emphasizes the utility of "free cash flow" as an indicator of cash available for investment in future growth initiatives.
Risks and Contingencies: No specific risks or contingencies are detailed in this filing text. The document includes standard disclaimers that the information is not deemed "filed" under Section 18 of the Securities Exchange Act of 1934 unless expressly incorporated by reference.
Investor Verification Checklist
- Review Exhibit 99.1 (News Release dated October 29, 2009) for specific revenue, earnings, and cash flow figures.
- Verify the reconciliation between GAAP and non-GAAP measures, specifically the calculation of "free cash flow."
- Compare the third-quarter 2009 results against the third-quarter 2008 results as detailed in the news release.
- Assess management's commentary on the impact of the economic environment on the marine and billiards segments.