All articles by Arlene Sloan – Page 16
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NewsBrunswick Q1 ‘resilient’ despite COVID-19 impact
Brunswick Corporation released first quarter 2020 financial results and reported a strong pre-coronavirus performance, with “resilient operating margins despite COVID-19 impact”
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NewsPolaris reports a 6% drop in Q1 sales
The outdoor vehicle specialist has withdrawn revenue and earnings guidance for the rest of 2020 but currently thinks the recovery will take ’more of a U shape’ – with demand weakest in the second quarter
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NewsRecord Q1 revenues for Garmin
Garmin Ltd released its 2020 first quarter results on Wednesday, reporting record Q1 revenues and double-digit revenue growth in four of its five operating segments – including a 22% bump in its marine business.
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NewsStrong quarter at Grand Banks, but sharp decline expected
After logging new sales in the quarter ending March 31, Grand Banks anticipates a sharp downturn and more layoffs in light of an extended shutdown at its main Malaysian plant
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NewsDometic puts Q1 Covid loss at $40 million
Swedish equipment manufacturer Dometic Group reported Q1 results, noting a severe impact on its business beginning in mid-March and projecting that April would be much worse
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NewsVolvo struggles to define ‘new normal’
The Volvo Group – parent company of Volvo Penta – released financial results for the first quarter of 2020, revealing the severe impact of Covid-19 on the company’s global operations and continued uncertainty about what demand will look like once the crisis subsides. Marine division revenues weakened somewhat towards the ...
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NewsAmerica’s ‘Discover Boating’ sees boost in consumer interest
Despite circumstances surrounding the coronavirus pandemic, America’s Discover Boating marketing platform is seeing a boost in visitor traffic and growth over the past year, providing early indicators of higher consumer interest in boating
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NewsMarineMax Q2 results up; “partially impacted” by coronavirus
The largest national retailer of boats and yachts in the US is reporting slightly improved fiscal second quarter results while bracing for the full impact of the coronavirus pandemic. Nonetheles, MarineMax said it has seen strong online interest and even an uptick in sales for April.
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NewsSanlorenzo reopens, aiming for limited financial impact
Sanlorenzo’s Executive Chairman Massimo Perotti reported to shareholders today that all of the yacht builder’s facilities were operational as of 20 April and the company is aiming for a limited impact on results for 2020
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NewsNew: IBI Marine Stock Tracker
IBI has compiled a new service for readers on its website tracking more than 20 publicly traded marine companies on stock exchanges around the world.
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NewsGurit reports Q1 results, COVID 19 impact
Gurit reported net sales of 136.1 million CHF in Q1, amidst a significant impact on its Asian business in the first quarter
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NewsMonaco & Ft. Laurderdale show owner taps investors for funding
British-based Informa – a global events organiser and publisher – has turned to investors to raise £1 billion as a defense against the ”significantly deeper, more volatile and wide-reaching impact of the COVID-19 pandemic.”
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NewsGurit restructures Composite Materials unit
Swiss composites specialist Gurit Holding has divided its Composite Materials business into two units: one focused on Marine & Industrial Materials and the other on its extensive Wind Materials business
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NewsYamaha suspends production at outboard engine factories following US closures
Lower demand and supply problems are factors in the latest decision to suspend production for effectively a month
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NewsLippert execs take pay cut, trim jobs, create emergency fund
American equipment maker Lippert Components announced further measures the company is taking to weather the Covid-19 storm including salary reductions, job furloughs, and emergency funding for employees impacted by the crisis. The company said it would ‘pause’ on acquisition activity aimed at diversification, but continue to invest in technology
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NewsMarineMax expects Q2 revenues equal to or above 2019
America’s largest boat retailer announced expected revenues for its second quarter ending 31 March of $303 to $308 million, along with further insights on how the Cornovirus is affecting the company
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NewsOcean Alexander COVID-19 Update
Florida-based Merritt Island Boat Works, which builds Ocean Alexander Yachts, reduces work force and production
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NewsLippert suspends production at select US and Europe facilities
US-based LCI Industries – parent of Lippert Components – has issued a business update regarding COVID-19
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NewsBRP reports on 2020 results and COVID-19
The Canadian company said 2019 was an “incredible year” and was very bullish about the upcoming year prior to the coronavirus outbreak with top-line growth projected across all product segments
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NewsWith many closures already, Volvo alters dividend proposal
In light of Group operations which are – or will be – temporarily closed, the Board of Directors will withdraw its proposal foran extra shareholder dividend given the significant changes in the business environment since announcing 2019 financial results
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