Brunswick reports $61.6 million net income for Q3 2026

Cover page 14 changes

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For the quarterly period ended July 4, October 3, 2026

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Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered

Common stock, par value $0.75 per share

New York Stock Exchange

6.375% Senior Notes due 2049

New York Stock Exchange

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Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered

Common stock, par value $0.75 per share

New York Stock Exchange

6.375% Senior Notes due 2049

New York Stock Exchange

The number of shares of Common Stock ($0.75 par value) of the registrant outstanding as of July October 30, 2026 was 64,797,428 64,229,421 .

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Financial statements 190 changes

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(in millions, except per share data) July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025

Net sales $ 1,557.8 $ 1,447.0 $ 2,935.9 $ 2,668.8

Cost of sales 1,120.0 1,077.3 2,154.5 1,995.2

Selling, general and administrative expense 251.0 216.6 493.2 424.6

Research and development expense 50.4 41.8 96.7 80.3

Restructuring, exit and impairment charges 7.0 8.0 11.8 9.1

Operating earnings 129.4 103.3 179.7 159.6

Equity earnings 1.7 1.7 3.3 3.9

Other expense, net ( 1.1 ) ( 1.4 ) ( 2.7 ) ( 0.1 )

Earnings before interest and income taxes 130.0 103.6 180.3 163.4

Interest expense ( 24.8 ) ( 30.0 ) ( 49.4 ) ( 59.7 )

Interest income 1.2 1.7 2.4 3.4

Condensed Consolidated Statements of Comprehensive Income Operations

Three Months Ended Six Nine Months Ended

(in millions, except per share data) October 3, 2026 September 27, 2025 October 3,

2026 September 27, 2025

Net sales $ 1,453.9 $ 1,360.2 $ 4,389.8 $ 4,029.0

Cost of sales 1,042.1 1,009.4 3,196.6 3,004.6

Selling, general and administrative expense 237.5 215.8 730.7 640.4

Research and development expense 49.2 43.4 145.9 123.7

Restructuring, exit and impairment charges 21.1 333.8 32.9 342.9

Operating earnings (loss) 104.0 ( 242.2 ) 283.7 ( 82.6 )

Equity earnings 1.3 1.5 4.6 5.4

Other expense, net ( 1.0 ) ( 0.4 ) ( 3.7 ) ( 0.5 )

Earnings (loss) before interest and income taxes 104.3 ( 241.1 ) 284.6 ( 77.7 )

Interest expense ( 22.9 ) ( 27.0 ) ( 72.3 ) ( 86.7 )

Interest income 1.5 1.8 3.9 5.2

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Earnings before income taxes 106.4 75.3 133.3 103.4

Income tax (benefit) provision ( 1.8 ) 15.7 4.1 23.6

Net earnings from continuing operations 108.2 59.6 129.2 79.8

Net earnings (loss) from discontinued operations, net of tax 1.6 ( 0.3 ) 1.6 ( 0.3 )

Net earnings $ 109.8 $ 59.3 $ 130.8 $ 79.5

Earnings (loss) before income taxes 82.9 ( 266.3 ) 216.2 ( 162.9 )

Income tax provision (benefit) 17.3 ( 32.0 ) 21.4 ( 8.4 )

Net earnings (loss) from continuing operations 65.6 ( 234.3 ) 194.8 ( 154.5 )

Net loss from discontinued operations, net of tax ( 4.0 ) ( 1.2 ) ( 2.4 ) ( 1.5 )

Net earnings (loss) $ 61.6 $ ( 235.5 ) $ 192.4 $ ( 156.0 )

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Earnings from continuing operations $ 1.66 $ 0.90 $ 1.98 $ 1.21

Net earnings $ 1.68 $ 0.89 $ 2.00 $ 1.20

Earnings from continuing operations $ 1.66 $ 0.90 $ 1.97 $ 1.21

Net earnings $ 1.68 $ 0.89 $ 1.99 $ 1.20

Earnings (loss) from continuing operations $ 1.01 $ ( 3.57 ) $ 2.98 $ ( 2.34 )

Earnings Loss from discontinued operations 0.02 ( 0.01 0.06 ) ( 0.02 ) 0.01 ( 0.04 ) ( 0.02 )

Net earnings (loss) $ 0.95 $ ( 3.59 ) $ 2.94 $ ( 2.36 )

Earnings (loss) from continuing operations $ 1.01 $ ( 3.57 ) $ 2.97 $ ( 2.34 )

Earnings Loss from discontinued operations 0.02 ( 0.01 0.06 ) ( 0.02 ) 0.01 ( 0.04 ) ( 0.02 )

Net earnings (loss) $ 0.95 $ ( 3.59 ) $ 2.93 $ ( 2.36 )

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Comprehensive income $ 103.0 $ 68.3 $ 129.0 $ 101.2

Basic earnings per common share 65.1 65.7 65.4 66.0 65.4 66.1

Diluted earnings per common share 65.5 66.0 65.1 65.7 65.6 66.2 66.0

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Condensed Consolidated Statements of Comprehensive Income

Three Months Ended Nine Months Ended

(in millions) October 3, 2026 September 27, 2025 October 3, 2026 September 27, 2025

Net earnings (loss) $ 61.6 $ ( 235.5 ) $ 192.4 $ ( 156.0 )

Other comprehensive income (loss), net of tax:

Foreign currency cumulative translation adjustments ( 8.6 ) ( 2.2 ) ( 21.3 ) 68.7

Net change in unamortized prior service credits ( 0.1 ) ( 0.1 ) ( 0.4 ) ( 0.4 )

Net change in unamortized actuarial (losses) gains ( 0.1 ) 0.5 ( 0.4 ) 0.2

Net change in unrealized derivative gains (losses) 4.3 5.7 15.8 ( 42.9 )

Total other comprehensive (loss) income ( 4.5 ) 3.9 ( 6.3 ) 25.6

Comprehensive income (loss) $ 57.1 $ ( 231.6 ) $ 186.1 $ ( 130.4 )

The Notes to Condensed Consolidated Financial Statements are an integral part of these condensed consolidated financial statements.

BRUNSWICK CORPORATION

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Cash and cash equivalents $ 288.1 $ 256.8 $ 315.7

Finished goods 776.4 767.4 832.7

Raw materials 277.2 278.0 306.8

Prepaid expenses and other 130.9 72.5 86.7

Buildings and improvements 685.9 681.5 662.2

Equipment 1,641.2 1,597.1 1,582.3

Unamortized product tooling costs 179.0 176.5 194.8

Goodwill 694.4 681.2 986.1

Other intangibles, net 828.9 854.8 899.4

Operating lease assets 215.0 170.2 163.5

Equity investments 33.9 34.4 35.0

(in millions, except share and per share data) July 4, October 3, 2026 December 31,

2025 September 27, 2025

Cash and cash equivalents $ 257.8 $ 256.8 $ 297.7

Restricted cash 10.8 18.1 18.2 17.9

Short-term investments in marketable securities 0.8 10.8 0.8 0.8

Total cash and short-term investments in marketable securities 299.7 279.4 275.7 334.7 316.4

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and 110 more changes in the filing

Note 1: Significant Accounting Policies 3 changes

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Brunswick's unaudited interim condensed consolidated financial statements have been prepared pursuant to Securities and Exchange Commission (SEC) rules and regulations. Therefore, certain information and disclosures normally included in financial statements and related notes prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted.

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The Company maintains its financial records on the basis of a fiscal year ending on December 31, with the fiscal quarters spanning approximately thirteen weeks. The first quarter ends on the Saturday closest to the end of the first thirteen-week period. The second and third quarters are thirteen weeks in duration and the fourth quarter is the remainder of the year. The second third quarter of fiscal year 2026 ended on July 4, October 3, 2026, and the second third quarter of fiscal year 2025 ended on June 28, September 27, 2025.

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Income Statement : In November 2024, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses . This guidance requires disclosures about significant expense categories, including but not limited to, inventory purchases, employee compensation, depreciation, amortization, and selling expenses. ASU 2024-03 is effective for financial statements for annual periods beginning after December 15, 2026. We are currently evaluating the impact of adopting this guidance on the consolidated financial statements.

Note 2: Revenue Recognition 14 changes

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United States $ 389.0 $ 267.6 $ 126.5 $ 333.8 $ 1,116.9

Europe 118.3 35.8 57.4 32.4 243.9

Asia Pacific 52.0 25.7 20.7 3.8 102.2

Canada 20.9 24.8 5.4 48.0 99.1

Rest-of-World 63.8 14.0 5.8 6.4 90.0

Segment Eliminations ( 69.9 ) ( 1.8 ) ( 22.3 ) ( 0.3 ) ( 94.3 )

Total $ 574.1 $ 366.1 $ 193.5 $ 424.1 $ 1,557.8

United States $ 360.8 $ 271.2 $ 116.0 $ 322.9 $ 1,070.9

Europe 75.5 35.3 52.1 20.1 183.0

Asia Pacific 46.6 29.2 21.1 6.4 103.3

Canada 22.7 32.9 2.8 41.4 99.8

Rest-of-World 64.9 12.3 5.7 3.6 86.5

Segment Eliminations ( 67.3 ) ( 2.0 ) ( 19.7 ) ( 0.6 ) ( 89.6 )

Total $ 503.2 $ 378.9 $ 178.0 $ 393.8 $ 1,453.9

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Note 3: Restructuring, Exit, and Impairment Activities 30 changes

During the three and six nine months ended July 4, October 3, 2026, and June 28, September 27, 2025, the Company recorded restructuring charges related to headcount reductions and related costs associated with streamlining the enterprise-wide cost structure and improving operating efficiencies. The Company also incurred charges related to the rationalization of its manufacturing footprint, including the decision in the third quarter of 2025 to rationalize our its fiberglass boat manufacturing footprint and exit our its facilities in Reynosa, Mexico and Flagler Beach, Florida and consolidate production from those facilities into existing U.S. facilities. Any gain or loss associated with the sale of these facilities is included in Selling, general and administrative expense.

The following table is a summary of these expenses for the three months ended July 4, October 3, 2026:

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Employee termination and other benefits $ — $ — $ — $ 1.4 $ 2.5 $ 3.9

Asset-related — — — 1.9 — 1.9

Total restructuring, exit, and impairment charges $ — $ — $ — $ 4.2 $ 2.8 $ 7.0

Accrued charges at end of the period $ 0.5 $ 0.1 $ 0.7 $ 8.9 $ 2.8 $ 13.0

Employee termination and other benefits $ — $ — $ 0.3 $ ( 0.4 ) $ — $ ( 0.1 )

Professional and other third-party fees — — — 0.9 0.3 1.2 2.2 — 2.2

Total restructuring, exit, and impairment charges $ 17.8 $ — $ 0.3 $ 3.0 $ — $ 21.1

Total cash payments for restructuring, exit and impairment charges $ — 0.3 $ — 0.1 $ 1.0 0.2 $ 2.8 7.8 $ 0.2 1.1 $ 4.0 9.5

Accrued charges at end of the period $ 0.2 $ — $ 0.8 $ 2.9 $ 1.7 $ 5.6 (A) Includes impairment charges of $ 17.8 million associated with an impairment of the Fliteboard reporting unit's goodwill and trade names during the three months ended October 3, 2026. See further discussion at Note 8 – Goodwill and Other Intangibles .

The following table is a summary of these expenses for the three months ended June 28, September 27, 2025:

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Employee termination and other benefits $ 1.2 $ 0.4 $ 4.3 $ 1.0 $ 0.3 $ 7.2

Asset-related — — 0.4 — — 0.4

Total restructuring, exit, and impairment charges $ 1.2 $ 0.4 $ 5.1 $ 1.0 $ 0.3 $ 8.0

Accrued charges at end of the period $ 0.8 $ 0.2 $ 3.6 $ 0.9 $ 0.3 $ 5.8

Employee termination and other benefits (A)

Professional and other third-party fees — — 0.4 — 0.6 — 0.4 0.6

Total restructuring, exit, and impairment charges $ — $ — $ 324.3 $ 8.4 $ 0.2 $ 332.9

Total cash payments for restructuring, exit and impairment charges $ 0.7 0.3 $ 0.4 0.1 $ 1.8 $ 1.2 0.4 $ 0.1 0.2 $ 4.2 2.8

Accrued charges at end of the period $ 0.5 $ 0.1 $ 3.3 $ 8.0 $ 0.3 $ 12.2 (A) Includes $ 0.9 million of benefit associated with pension plan adjustments included within Other expense, net in the Condensed Consolidated Statements of Operations during the three months ended September 27, 2025.

(B) Includes impairment charges of $ 322.8 million associated with an impairment of the Navico Group reporting unit's goodwill and trade names during the three months ended September 27, 2025.

The following table is a summary of these expenses for the six nine months ended July 4, October 3, 2026:

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Asset-related — — — 3.9 — 3.9

Accrued charges at end of the period $ 0.5 $ 0.1 $ 0.7 $ 8.9 $ 2.8 $ 13.0

Employee termination and other benefits $ — $ — $ 0.2 0.5 $ 2.9 2.5 $ 2.5 $ 5.6 5.5

Professional and other third-party fees — — — 2.0 4.2 0.3 2.3 4.5

Total restructuring, exit, and impairment charges $ — 17.8 $ — $ 0.2 0.5 $ 8.8 11.8 $ 2.8 $ 11.8 32.9

Total cash payments for restructuring, exit and impairment charges $ — 0.3 $ — 0.1 $ 2.4 2.6 $ 6.5 14.3 $ 0.3 1.4 $ 9.2 18.7

Accrued charges at end of the period $ 0.2 $ — $ 0.8 $ 2.9 $ 1.7 $ 5.6 (A) Includes impairment charges of $ 17.8 million associated with an impairment of the Fliteboard reporting unit's goodwill and trade names during the nine months ended October 3, 2026. See further discussion at Note 8 – Goodwill and Other Intangibles .

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Note 4: Acquisitions 3 changes

On April 16, 2026, the Company acquired another Freedom Boat Club franchise operation and territory across Greater Boston, Cape Cod and surrounding areas to further expand Freedom Boat Club's growing corporate club portfolio in the Northeast. The transaction also includes a maintenance operations center and dealership, strengthening Freedom's regional maintenance and fleet resale capabilities to support continued growth. The acquisition is included as part of the Company's Boat segment.

During 2026, the Company acquired multiple Freedom Boat Club franchise operations and territories. These acquisitions are expected to create operational efficiencies while providing members with access to additional boating destinations, and are included as part of the Company's Boat Segment.

The Company paid net cash consideration of $ 28.2 32.5 million for the acquisition these acquisitions, and total deferred consideration compensation of $7.7 $ 8.4 million due within one year from the acquisition date. The opening balance sheet, which is preliminary and subject to change in the measurement period as the Company finalizes the purchase price allocation and fair value estimates, includes $ 18.6 22.2 million of goodwill and $ 2.7 3.7 million of customer relationships. The amount assigned to customer relationships will be amortized over the estimated useful life of 10 years. Transaction costs associated with the acquisition these acquisitions were not material to the Company's consolidated results of operations. The acquisition is not material to the Company's net sales, results of operations, or total assets during any period presented. Accordingly, the Company's consolidated results of operations do not differ materially from historical performance as a result of the acquisition, and pro forma results for prior periods are not presented.

Note 5: Financial Instruments 5 changes

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The following table summarizes the notional values of the Company's derivative instruments as of July 4, October 3, 2026, December 31, 2025, and June 28, September 27, 2025:

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Instruments July 4, 2026 December 31, 2025 June 28, 2025

Instruments October 3, 2026 December 31, 2025 September 27, 2025

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(A) Commodity contracts outstanding as of July 4, October 3, 2026 mature through 2027. 2028.

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(C) Forward contracts outstanding as of July 4, October 3, 2026 mature through 2028 and mainly relate to the Euro, Australian dollar, Canadian dollar, Japanese yen, and Mexican peso. Norwegian krone.

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Note 6: Fair Value Measurements 17 changes

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Derivative assets 2 16.5 13.3 11.8

Derivative liabilities 2 49.8 58.2 64.0

(in millions) July 4, 2026 December 31, 2025 June 28, 2025

(in millions) Fair Value Level July 4, October 3, 2026 December 31, 2025 June 28, September 27, 2025

Cash equivalents 1 $ 0.3 0.4 $ 0.4 $ 0.3

Short-term investments in marketable securities 1 0.8 10.8 0.8 0.8

Restricted cash 1 10.8 18.1 18.2 17.9

Derivative assets 2 15.9 13.3 13.4

Derivative liabilities 2 45.4 58.2 58.2

Deferred compensation 1 1.3 1.0 1.1 0.9 1.0

Deferred compensation 2 23.9 24.9 22.6 20.1 21.4

Liabilities measured at net asset value 19.1 19.7 15.6 14.0 15.3

Fair Value of Other Financial Instruments. The carrying values of the Company's short-term financial instruments, including cash and cash equivalents and accounts and notes receivable, approximate their fair values because of the short maturity of these instruments. The fair value of the Company's long-term debt, including current maturities, and short-term debt is determined using Level 1 and Level 2 inputs described in Note 6 to Notes to Consolidated Financial Statements in the 2025 Form 10-K. The fair value and carrying value of long-term debt, including current maturities, and short-term debt as of July 4, October 3, 2026, December 31, 2025, and June 28, September 27, 2025 was as follows:

(in millions) October 3, 2026 December 31, 2025 September 27, 2025

Fair Value $ 1,979.5 1,818.8 $ 2,004.9 $ 2,120.6 2,076.3

Carrying Value 2,115.6 2,015.7 2,118.0 2,298.9 2,217.5

BRUNSWICK CORPORATION

Note 7: Commitments and Contingencies 19 changes

(in millions) July 4, 2026 June 28, 2025

The following activity related to product warranty liabilities was recorded in Accrued expenses during the six nine months ended July 4, October 3, 2026 and June 28, September 27, 2025:

(in millions) October 3, 2026 September 27, 2025

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Payments ( 49.7 ) ( 42.3 )

BRUNSWICK CORPORATION

Payments ( 76.1 ) ( 69.8 )

Provisions/additions for contracts issued/sold 60.5 55.6 86.6 84.3

Aggregate changes for preexisting warranties ( 7.7 10.6 ) 0.7 ( 6.9 )

Foreign currency translation ( 1.0 ) 2.6

Balance at end of period $ 164.4 161.1 $ 168.5 160.8

Extended Product Warranties

The following activity related to deferred revenue for extended product warranty contracts was recorded in Accrued expenses and Other long-term liabilities during the nine months ended October 3, 2026 and September 27, 2025:

(in millions) October 3, 2026 September 27, 2025

Balance at beginning of period $ 146.0 $ 136.6

Extended warranty contracts sold 37.0 35.9

Revenue recognized on existing extended warranty contracts ( 27.5 ) ( 25.1 )

Foreign currency translation ( 0.8 0.4 ) 2.9 0.3

Other ( 0.1 0.3 ) ( 1.2 0.1 )

Balance at end of period $ 154.8 $ 147.6

Note 8: Goodwill and Other Intangibles 23 changes

Changes in the Company's goodwill during the six nine months ended July 4, October 3, 2026 and June 28, September 27, 2025, by reportable segment, are summarized below:

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Acquisitions — — — 18.6 18.6

Adjustments — — ( 2.7 ) ( 2.7 ) ( 5.4 )

July 4, 2026 $ 54.0 $ 233.2 $ 220.9 $ 186.3 $ 694.4

Acquisitions — — — 22.2 22.2

Impairments ( 13.0 ) — — — ( 13.0 )

Adjustments ( 0.2 ) ( 0.1 ) ( 4.4 ) ( 2.8 ) ( 7.5 )

October 3, 2026 $ 40.8 $ 233.1 $ 219.2 $ 189.8 $ 682.9

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Adjustments 3.0 0.7 15.8 0.5 20.0

June 28, 2025 $ 53.8 $ 233.3 $ 529.2 $ 169.8 $ 986.1

Adjustments in both periods include the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. The accumulated impairment loss on Navico Group goodwill was $ 385.8 million as of July 4, 2026 and December 31, 2025, and $ 80.0 million as of June 28, 2025, respectively.

The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of July 4, 2026, December 31, 2025, and June 28, 2025, are summarized by intangible asset type below:

July 4, 2026 December 31, 2025 June 28, 2025

(in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization

Customer relationships $ 909.7 $ ( 540.4 ) $ 908.1 $ ( 518.1 ) $ 917.3 $ ( 499.0 )

Trade names 295.8 — 295.2 — 305.7 —

Developed technology 167.6 ( 52.8 ) 167.4 ( 47.1 ) 167.2 ( 41.3 )

Other 147.8 ( 98.8 ) 138.0 ( 88.7 ) 127.7 ( 78.2 )

Total $ 1,520.9 $ ( 692.0 ) $ 1,508.7 $ ( 653.9 ) $ 1,517.9 $ ( 618.5 )

Other intangible assets primarily consist of software, patents, and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $ 19.3 million and $ 38.8 million for the three and six months ended July 4, 2026, respectively. Aggregate amortization expense for intangibles was $ 20.1 million and $ 39.3 million for the three and six months ended June 28, 2025, respectively.

Impairments — — ( 305.8 ) — ( 305.8 )

Adjustments 2.8 0.6 15.1 0.8 19.3

September 27, 2025 $ 53.6 $ 233.2 $ 222.7 $ 170.1 $ 679.6

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Notes to the financial statements 43 changes

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended June 28, 2025:

(in millions) Foreign currency translation Prior service credits Net actuarial gains Unrealized investment gains Net derivative gains (losses) Total

Beginning balance $ ( 71.5 ) $ ( 8.0 ) $ 10.3 $ 0.2 $ 28.3 $ ( 40.7 )

Other comprehensive income (loss) before reclassifications (A)

Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)

Net other comprehensive income (loss) 45.5 ( 0.2 ) ( 0.1 ) — ( 36.2 ) 9.0

Ending balance $ ( 26.0 ) $ ( 8.2 ) $ 10.2 $ 0.2 $ ( 7.9 ) $ ( 31.7 )

(A) The tax effect for the three months ended June 28, 2025 was $( 8.2 ) million for foreign currency translation and $ 11.4 million for derivatives.

(B) The tax effect for the three months ended June 28, 2025 was $ 0.4 million for derivatives.

(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended June 28, 2025. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the six months ended July 4, 2026:

(in millions) Foreign currency translation Prior service credits Net actuarial gains Unrealized investment gains Net derivative gains Total

Beginning balance $ ( 24.6 ) $ ( 8.4 ) $ 11.8 $ 0.2 $ ( 1.7 ) $ ( 22.7 )

Other comprehensive income (loss) before reclassifications (A)

Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)

Net other comprehensive income (loss) ( 12.7 ) ( 0.3 ) ( 0.3 ) — 11.5 ( 1.8 )

Ending balance $ ( 37.3 ) $ ( 8.7 ) $ 11.5 $ 0.2 $ 9.8 $ ( 24.5 )

(A) The tax effect for the six months ended July 4, 2026 was $ 0.9 million for foreign currency translation and $( 4.6 ) million for derivatives.

(B) The tax effect for the six months ended July 4, 2026 was $ 0.9 million for derivatives.

(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the six months ended July 4, 2026. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the six months ended June 28, 2025:

(in millions) Foreign currency translation Prior service credits Net actuarial gains Unrealized investment gains Net derivative gains (losses) Total

Beginning balance $ ( 96.9 ) $ ( 7.9 ) $ 10.5 $ 0.2 $ 40.7 $ ( 53.4 )

Other comprehensive income (loss) before reclassifications (A)

Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)

Net other comprehensive income (loss) 70.9 ( 0.3 ) ( 0.3 ) — ( 48.6 ) 21.7

Ending balance $ ( 26.0 ) $ ( 8.2 ) $ 10.2 $ 0.2 $ ( 7.9 ) $ ( 31.7 )

(A) The tax effect for the six months ended June 28, 2025 was $( 11.8 ) million for foreign currency translation and $ 14.9 million for derivatives.

(B) The tax effect for the six months ended June 28, 2025 was $ 0.9 million for derivatives.

(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the six months ended June 28, 2025 . Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.

The Company tests goodwill annually in the fourth quarter and whenever a triggering event indicates a reporting unit's carrying value may exceed its fair value. As a result of changes to the financial projections, the Company identified a triggering event for the Fliteboard reporting unit and performed an interim test in the third quarter. Due to the changes in the projections and unfavorable movements in the underlying inputs impacting the discount rate, the test showed the carrying value exceeded fair value, and the Company recorded a $ 13.0 million goodwill impairment charge in the Propulsion segment for the three months ended October 3, 2026, which is included as a component of Restructuring, exit and impairment charges in the Condensed Consolidated Statements of Operations. Following the charge, Fliteboard's fair value approximates its carrying value. Fliteboard was acquired in 2023 and is a leader in eFoiling technology, which combines advanced hydrofoils and electric propulsion on the water. The Company calculated the fair value of Fliteboard considering both the income approach and the guideline public company method.

The Company recorded a total impairment charge of $ 305.8 million during the three months ended September 27, 2025, related to Navico Group goodwill, which is included as a component of Restructuring, exit and impairment charges on the Condensed Consolidated Statements of Operations.

Adjustments in both periods include the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. The Company's accumulated impairment loss on goodwill was $ 398.8 million as of October 3, 2026 and $ 385.8 million as of both December 31, 2025, and September 27, 2025.

The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of October 3, 2026, December 31, 2025, and September 27, 2025, are summarized by intangible asset type below:

October 3, 2026 December 31, 2025 September 27, 2025

(in millions) Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization Gross Amount Accumulated Amortization

Customer relationships $ 910.0 $ ( 551.7 ) $ 908.1 $ ( 518.1 ) $ 917.3 $ ( 510.5 )

Trade names 291.0 — 295.2 — 288.6 —

Developed technology 167.7 ( 55.7 ) 167.4 ( 47.1 ) 167.2 ( 44.2 )

Other 151.8 ( 104.0 ) 138.0 ( 88.7 ) 131.5 ( 83.5 )

Total $ 1,520.5 $ ( 711.4 ) $ 1,508.7 $ ( 653.9 ) $ 1,504.6 $ ( 638.2 )

Other intangible assets primarily consist of software, patents, and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $ 19.9 million and $ 58.7 million for the three and nine months ended October 3, 2026, respectively. Aggregate amortization expense for intangibles was $ 19.7 million and $ 59.0 million for the three and nine months ended September 27, 2025, respectively.

The Company tests its intangible assets for impairment during the fourth quarter of each year, or whenever a change in events and circumstances (triggering event) occurs that indicates the fair value of intangible assets may be below their carrying values. The Company recorded an impairment charge of $ 4.8 million during the three months ended October 3, 2026, related to the Fliteboard trade name, which is included as a component of Restructuring, exit and impairment charges on the Condensed Consolidated Statements of Operations. The Company recorded a total impairment charge of $ 17.0 million during the three months ended September 27, 2025, related to various Navico Group trade names, which is included as a component of Restructuring, exit and impairment charges on the Condensed Consolidated Statements of Operations.

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Note 9: Segment Information 48 changes

Information about the operations of Brunswick's reportable and geographic segments is set forth below:

Three Months Ended July 4, 2026

Operating earnings $ 71.2 $ 85.6 $ 13.2 $ 15.3 $ ( 55.9 ) $ 129.4 (A) Net sales include $ 69.9 million, $ 1.8 million, $ 22.3 million, and $ 0.3 million of segment eliminations for the Propulsion, Engine P&A, Navico Group and Boat reportable segments, respectively.

(B) Includes $ 3.4 million of Cost of sales related restructuring, exit, and impairment charges.

Three Months Ended June 28, 2025

Operating earnings $ 65.8 $ 71.7 $ ( 7.6 ) $ 11.1 $ ( 37.7 ) $ 103.3 (A) Net sales include $ 73.2 million, $ 1.9 million, $ 21.6 million and $ 0.2 million of segment eliminations for the Propulsion, Engine P&A, Navico Group and Boat reportable segments, respectively.

(B) Includes $ 2.1 million of Cost of sales related Restructuring, exit, and impairment charges.

(C) Includes $ 216.6 million of Selling, general, and administrative expense, $ 41.8 million of Research and development expense and $ 5.9 million of Restructuring, exit, and impairment charges.

Six Months Ended July 4, 2026

(in millions) Propulsion Engine P&A Navico Group Boat Corporate/Other Total

Operating earnings $ 105.6 $ 131.2 $ 18.3 $ 21.8 $ ( 97.2 ) $ 179.7 (A) Net sales include $ 144.9 million, $ 3.5 million, $ 46.0 million, and $ 1.1 million of segment eliminations for the Propulsion, Engine P&A, Navico Group and Boat reportable segments, respectively.

(B) Includes $ 6.7 million of Cost of sales related restructuring, exit, and impairment charges.

(C) Includes $ 493.2 million of Selling, general, and administrative expense, $ 96.7 million of Research and development expense and $5.1 million of Restructuring, exit, and impairment charges.

Six Months Ended June 28, 2025

(in millions) Propulsion Engine P&A Navico Group Boat Corporate/Other Total

Operating earnings $ 111.9 $ 110.8 $ ( 10.4 ) $ 18.8 $ ( 71.5 ) $ 159.6 (A) Net sales include $ 146.5 million, $ 4.3 million, $ 46.3 million and $ 0.6 million of segment eliminations for the Propulsion, Engine P&A, Navico Group and Boat reportable segments, respectively.

(B) Includes $ 2.8 million of Cost of sales related Restructuring, exit, and impairment charges.

The accounting policies for transactions between the Company's segments are consistent with Note 1 – Significant Accounting Policies . Segment operating earnings (loss) includes profit on intersegment sales when the product is ultimately sold to an external customer. Segment eliminations adjust for sales between the Company's reportable segments and primarily relate to the sale of engines and parts and accessories to various boat brands, which are consummated at established arm's length transfer prices as the intersegment pricing for these engines and parts and accessories is based upon and consistent with selling prices to third-party customers. Information about the operations of Brunswick's reportable and geographic segments is set forth below:

Three Months Ended October 3, 2026

(in millions) Propulsion Engine P&A Navico Group Boat Corporate/Other Total

Sales - external $ 503.2 $ 378.9 $ 178.0 $ 393.8 $ 1,453.9

Sales - intersegment 67.3 2.0 19.7 0.6 89.6

Total sales 570.5 380.9 197.7 394.4 1,543.5

Elimination of intersegment sales — ( 89.6 )

Operating expenses (C) (B)

Segment operating earnings (loss) $ 51.0 $ 93.8 $ ( 1.5 ) $ 2.4 $ 145.7

Corporate/other operating expenses (C)

Other expense, net ( 1.0 )

Interest expense ( 22.9 )

Earnings before income taxes $ 82.9

(A) Includes intersegment cost of sales.

(C) (B) Includes $ 424.6 million of Selling, general and administrative expense, $ 80.3 million of Research and development expense and $6.3 million of Restructuring, exit, and impairment charges.

(C) Corporate/other results include items such as corporate staff and administrative costs, investments in technology solutions, business development and other growth-related expenses, including IT enhancements.

Three Months Ended September 27, 2025

(in millions) Propulsion Engine P&A Navico Group Boat Corporate/Other Total

Sales - external $ 472.0 $ 361.9 $ 166.3 $ 360.0 1,360.2

Sales - intersegment 63.4 1.8 20.6 0.2 86.0

Total sales 535.4 363.7 186.9 360.2 1,446.2

Elimination of intersegment sales ( 86.0 )

Operating expenses (C) (B)

Segment operating earnings (loss) $ 45.1 $ 82.4 $ ( 328.9 ) $ ( 3.3 ) $ ( 204.7 )

Corporate/other operating expenses (C)

Other expense, net ( 0.4 )

Interest expense ( 27.0 )

Loss before income taxes $ ( 266.3 )

(A) Includes intersegment cost of sales.

(C) (B) Includes $ 251.0 million of Selling, general, and administrative expense, $ 50.4 million of Research and development expense and $ 3.6 million of Restructuring, exit, and impairment charges.

(C) Corporate/other results include items such as corporate staff and administrative costs, investments in technology solutions, business development and other growth-related expenses, including IT enhancements.

1 unchanged paragraph

Note 10: Comprehensive Income 31 changes

Changes in the components of Comprehensive income, net of tax, for the three and six months ended July 4, 2026 and June 28, 2025 are as follows:

Three Months Ended Six Months Ended

(in millions) July 4, 2026 June 28, 2025 July 4, 2026 June 28, 2025

Net earnings $ 109.8 $ 59.3 $ 130.8 $ 79.5

Other comprehensive income (loss):

Foreign currency cumulative translation adjustments ( 4.3 ) 45.5 ( 12.7 ) 70.9

Net change in unamortized prior service credits ( 0.1 ) ( 0.2 ) ( 0.3 ) ( 0.3 )

Net change in unamortized actuarial losses ( 0.2 ) ( 0.1 ) ( 0.3 ) ( 0.3 )

Net change in unrealized derivative (losses) gains ( 2.2 ) ( 36.2 ) 11.5 ( 48.6 )

Total other comprehensive (loss) income ( 6.8 ) 9.0 ( 1.8 ) 21.7

Comprehensive income $ 103.0 $ 68.3 $ 129.0 $ 101.2

Beginning balance $ ( 33.0 ) $ ( 8.6 ) $ 11.7 $ 0.2 $ 12.0 $ ( 17.7 )

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended July 4, October 3, 2026:

(in millions) Foreign currency translation Prior service credits Net actuarial gains Unrealized investment gains Net derivative gains (losses) Total

Beginning balance $ ( 37.3 ) $ ( 8.7 ) $ 11.5 $ 0.2 $ 9.8 $ ( 24.5 )

2 unchanged paragraphs

Ending balance $ ( 37.3 ) $ ( 8.7 ) $ 11.5 $ 0.2 $ 9.8 $ ( 24.5 )

Net other comprehensive income (loss) ( 4.3 8.6 ) ( 0.1 ) ( 0.2 ) — 0.1 ) 2.2 — 4.3 ( 6.8 4.5 )

Ending balance $ ( 45.9 ) $ ( 8.8 ) $ 11.4 $ 0.2 $ 14.1 $ ( 29.0 )

(A) The tax effect for the three months ended July 4, October 3, 2026 was $ 0.5 0.8 million for foreign currency translation and $( 0.1 2.3 ) million for derivatives.

(B) The tax effect for the three months ended July 4, October 3, 2026 was $ 0.6 1.0 million for derivatives.

(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended July 4, October 3, 2026. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.

The following table presents the changes in Accumulated other comprehensive loss, net of tax, by component for the three months ended September 27, 2025:

(in millions) Foreign currency translation Prior service credits Net actuarial gains Unrealized investment gains Net derivative gains (losses) Total

Beginning balance $ ( 26.0 ) $ ( 8.2 ) $ 10.2 $ 0.2 $ ( 7.9 ) $ ( 31.7 )

Other comprehensive income (loss) before reclassifications (A)

Amounts reclassified from Accumulated other comprehensive loss, net of tax (B)(C)

Net other comprehensive income (loss) ( 2.2 ) ( 0.1 ) 0.5 — 5.7 3.9

Ending balance $ ( 28.2 ) $ ( 8.3 ) $ 10.7 $ 0.2 $ ( 2.2 ) $ ( 27.8 )

(A) The tax effect for the three months ended September 27, 2025 was $ 1.3 million for foreign currency translation and $( 2.0 ) million for derivatives.

(B) The tax effect for the three months ended September 27, 2025 was $ 0.0 million for derivatives.

(C) The reclassification adjustments from Accumulated other comprehensive loss and associated tax effects related to defined benefit items were not material for the three months ended September 27, 2025. Refer to Note 5 – Financial Instruments for the reclassification adjustments from Accumulated other comprehensive loss, net of tax related to derivatives.

1 unchanged paragraph

Note 11: Debt 9 changes

The following table provides the changes in the Company's debt for the six nine months ended July 4, October 3, 2026:

2 unchanged paragraphs

Balance as of July 4, 2026

The Company maintains a Revolving Credit Agreement (Credit Facility). During the six months ended July 4, 2026, and June 28, 2025, there were no borrowings under the Credit Facility. As of July 4, 2026, available borrowing capacity totaled $ 983.9 million, net of $ 16.1 million of letters of credit outstanding under the Credit Facility. As of June 28, 2025, available borrowing capacity totaled $ 997.0 million, net of $ 3.0 million of letters of credit outstanding under the Credit Facility. Refer to Note 14 in the Notes to Consolidated Financial Statements in the 2025 Form 10-K for details regarding Brunswick's Credit Facility.

The Company maintains an unsecured commercial paper program (CP Program) pursuant to which the Company may issue short-term, unsecured commercial paper notes (CP Notes). During the six months ended July 4, 2026, borrowings under the CP Program totaled $ 470.0 million. As of July 4, 2026, the Company had $ 290.0 million of borrowings outstanding under the CP Program with a weighted average interest rate of 4.34%. During the six months ended July 4, 2026, the maximum amount utilized under the CP Program was $ 540.0 million. During the six months ended June 28, 2025, borrowings under the CP Program totaled $ 504.4 million. As of June 28, 2025, the Company had $ 170.0 million of borrowings outstanding under the CP Program. During the six months ended June 28, 2025, the maximum amount utilized under the CP Program was $ 445.5 million. Refer to Note 14 in the Notes to Consolidated Financial Statements in the 2025 Form 10-K for details regarding Brunswick's CP Program.

Repayments of debt (A)

Reclassification of long-term debt 1.1 2.0 ( 1.1 2.0 ) —

Balance as of October 3, 2026

(A) During the nine months ended October 3, 2026, the Company had short-term borrowings and repayments under its unsecured commercial paper program.

BRUNSWICK CORPORATION

Note 12: Supplier Finance Program Obligations 1 change

As of July 4, October 3, 2026, December 31, 2025, and June 28, September 27, 2025, the Company had $ 13.3 12.7 million, $ 6.2 million, and $ 9.1 8.1 million confirmed invoices under the supplier finance program, respectively, which were included in Accounts payable on the Condensed Consolidated Balance Sheets.

MD&A 268 changes

1 unchanged paragraph

Certain statements in Management's Discussion and Analysis are based on non-GAAP financial measures. GAAP refers to generally accepted accounting principles in the United States. A "non-GAAP financial measure" is a numerical measure of a registrant's historical or future financial performance, financial position or cash flows that excludes amounts, or is subject to adjustments that have the effect of excluding amounts, that are included in the most directly comparable measure calculated and presented in accordance with GAAP in the consolidated statements of operations, balance sheets or statements of cash flows of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented. For example, the discussion of our cash flows includes an analysis of free cash flows and total liquidity; the discussion of our net sales includes net sales on a constant currency basis; and the discussion of our earnings includes a presentation of operating earnings, and operating margin, and adjusted net earnings from continuing operations excluding restructuring, exit and impairment charges, purchase accounting amortization, acquisition, integration, and IT related costs, supplier bankruptcy expenses and other applicable charges, and of Adjusted diluted earnings per common share. As Adjusted. Supplier bankruptcy expenses include additional expenses incurred, in excess of normal inventory costs, to purchase inventory from a key supplier that filed for bankruptcy. Adjusted income tax expense represents the recalculated income tax provision (benefit) on Adjusted net earnings (loss) from continuing operations. Non-GAAP financial measures do not include operating and statistical measures.

1 unchanged paragraph

We do not provide forward-looking guidance for certain financial measures on a GAAP basis because we are unable to predict certain items contained in the GAAP measures without unreasonable efforts. These items may include restructuring, exit and impairment costs, special tax items, acquisition-related costs, and certain other unusual adjustments.

Segment operating earnings (loss) includes profit on intersegment sales when the product is ultimately sold to an external customer. Segment eliminations adjust for sales between our reportable segments and primarily relate to the sale of engines and parts and accessories to various boat brands, which are consummated at established arm's length transfer prices as the intersegment pricing for these engines and parts and accessories is based upon and consistent with selling prices to third-party customers.

2 unchanged paragraphs

On February 20, 2026, the U.S. Supreme Court ruled that tariffs imposed under the International Emergency Economic Powers Act ("IEEPA") were not authorized by the statute. The Company was previously subject to such tariffs under IEEPA. During the three months ended July 4, 2026, the Company submitted claims within the Consolidated Administration and Processing of Entries ("CAPE") system for processing tariff refunds and were subsequently accepted during the quarter totaling $34.3 million. These accepted claims for the recovery of IEEPA tariffs were deemed probable under the loss recovery model as of July 4, 2026. The Company recognized a reduction in Cost of sales of $30.4 million within the Condensed Consolidated Statements of Comprehensive Income. Additionally, $3.9 million of that tariff receivable is a reduction to inventory for certain tariff costs that were still capitalized within inventory. As of July 4, 2026, the total $30.9 million outstanding IEEPA tariff receivables are reflected within Prepaid expenses and other on the Condensed Consolidated Balance Sheets. Although the Company has assessed the recovery of these previously paid IEEPA tariffs is probable based on currently available information, the timing of cash receipts remains dependent upon the processing of refund claims by the CBP and U.S. Department of Treasury.

During the quarter ended July 4, 2026, the Company did not recognize a tariff refund receivable for those claims that were not accepted within the CAPE system or not yet submitted. In total, the Company expects to receive $60 million - $70 million of total IEEPA tariff refunds.

Net sales increased 7.7% during the second quarter of 2026 compared with the second quarter of 2025. Sales growth reflected steady OEM orders, continued strong P&A and aftermarket performance driven by healthy boating participation, pricing taken in previous periods, and improved mix. Adjusted operating earnings and margins increased as the benefits of the higher sales, favorable mix, and strong operating execution, in addition to IEEPA refunds, more than offset inflationary pressures, increased variable compensation, incremental tariffs, and accelerated product development investment . The Propulsion segment delivered sales growth resulting primarily from healthy OEM orders, steady market share, and pricing actions taken in recent quarters. Strong boater participation and continued distribution gains drove higher sales and margin for Engine P&A segment. Navico Group segment reported sales growth over the prior year quarter as growth across all business lines was supported by improving OEM demand, steady aftermarket performance, and improved operational efficiency. Finally, Boat segment grew both sales and margin, benefiting from increased focus on premium and core brands, pricing actions, operational efficiencies, and continued growth in Freedom Boat Club. Freedom Boat Club increased trips and improved same store sales. Our international net sales increased 11 percent on a GAAP basis and increased 7 percent on a constant currency basis in the second quarter.

Operating earnings in the second quarter of 2026 were $129.4 million and $150.1 million on a GAAP and As Adjusted basis, respectively. This compares to operating earnings during the second quarter of 2025 of $103.3 million and $126.0 million on a GAAP and As Adjusted basis, respectively. Adjusted operating earnings increased due to increased sales, favorable mix, pricing, improved absorption, disciplined cost management and IEEPA refunds more than offsetting the impact of incremental tariffs implemented after the first quarter of 2025, variable compensation, and accelerated product development investment.

Following the February 20, 2026 ruling by the U.S. Supreme Court that tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were not authorized by statute, the Company submitted claims through the Consolidated Automated Processing of Entries (CAPE) system to recover previously paid IEEPA tariffs. As of July 4, 2026, claims totaling $34.3 million had been accepted within the CAPE System, and the Company concluded recovery was probable. For the three and nine months ended October 3, 2026, the Company recognized a $2.5 million and $32.9 million reduction to Cost of sales, respectively, with the remaining $1.4 million recorded as a reduction to inventory for tariff costs capitalized in inventory.

During the three months ended October 3, 2026, the Company collected $29.1 million of the related receivable and did not recognize any additional IEEPA tariff refund receivables. As of October 3, 2026, outstanding IEEPA tariff refund receivables totaled $1.8 million and were included in Prepaid expenses and other on the Condensed Consolidated Balance Sheets. The Company believes recovery of the recognized receivables is probable; however, the timing of cash collections remains subject to processing by U.S. Customs and Border Protection and the U.S. Department of the Treasury.

The Company has not recognized receivables for claims that had not been accepted through the CAPE system or had not yet been submitted as of October 3, 2026. The Company currently estimates total IEEPA tariff refunds of approximately $60 million to $70 million.

Net sales increased 7% during the third quarter of 2026 compared with the third quarter of 2025. Sales growth reflected steady OEM demand across the portfolio, along with pricing actions taken in previous periods, continued market share gains, and healthy boating participation supporting parts, accessories, and aftermarket demand. The Propulsion segment delivered another robust quarter driven by consistent OEM demand and growth in high-horsepower applications. The Engine P&A segment delivered its strongest quarter in years, benefiting from sustained boating participation buttressed by favorable late-season weather. The Navico Group segment delivered another quarter of sales growth and adjusted margin expansion, supported by OEM wins, steady aftermarket performance, exciting new product introductions, and continued successful execution of operational improvement initiatives. Finally, the Boat segment grew both sales and earnings, led by strength in premium and core products, together with pricing realization, and continued operational efficiencies. Our international net sales increased 7 percent on a GAAP basis and increased 6 percent on a constant currency basis in the third quarter when compared with the prior year.

Operating earnings in the third quarter of 2026 were $104.0 million and $146.7 million on a GAAP and As Adjusted basis, respectively. This compares to operating (loss) earnings during the third quarter of 2025 of $(242.2) million and $106.4 million on a GAAP and As Adjusted basis, respectively. Operating earnings increased due to stronger sales, lower goodwill and intangible asset impairment charges, operational strength and efficiency across the enterprise, improved absorption on higher production, favorable mix, and disciplined cost management, together with the lapping of last year's tariff impacts, more than offset material and labor inflation and planned spending on product and technology initiatives.

Operating earnings in during the first half of nine months ended October 3, 2026 were $179.7 $283.7 million and $232.7 $379.4 million on a GAAP and As Adjusted basis, respectively. This compares to operating (loss) earnings during the first half of nine months ended September 27, 2025 of $159.6 $(82.6) million and $198.1 $304.5 million on a GAAP and As Adjusted basis, respectively. Operating earnings were up versus the first half of 2025 prior year due to increased sales and the same factors described above.

1 unchanged paragraph

The table below summarizes the impact of changes in currency exchange rates on our net sales:

Three Months Ended Six Months Ended

Net Sales 2026 vs. 2025 Net Sales 2026 vs. 2025

(in millions) July 4, 2026 June 28, 2025 GAAP Currency Impact July 4, 2026 June 28, 2025 GAAP Currency Impact

Propulsion $ 644.0 $ 598.2 7.7 % 1.8 % $ 1,215.3 $ 1,085.2 12.0 % 2.6 %

Engine P&A 367.9 337.8 8.9 % 0.9 % 657.7 593.1 10.9 % 1.7 %

Navico Group 215.8 202.3 6.7 % 1.4 % 439.3 410.5 7.0 % 2.7 %

Boat 424.4 405.6 4.6 % 0.3 % 819.1 777.7 5.3 % 0.7 %

Segment Eliminations (94.3) (96.9) 2.7 % 0.2 % (195.5) (197.7) 1.1 % 0.5 %

Total $ 1,557.8 $ 1,447.0 7.7 % 1.3 % $ 2,935.9 $ 2,668.8 10.0 % 2.0 %

Changes in Foreign Currency Rates. Percentage changes in net sales expressed in constant currency reflect the impact that changes in currency exchange rates had on comparisons of net sales. To determine this information, net sales transacted in currencies other than the U.S. dollar have been translated to U.S. dollars using the average exchange rates that were in effect during the comparative period. The percentage change in net sales expressed on a constant currency basis better reflects the changes in the underlying business trends, excluding the impact of translation arising from foreign currency exchange rate fluctuations. Approximately 25 26 percent of our annual net sales are transacted in a currency other than the U.S. dollar. Our most material exposures include sales in Euros, Canadian dollars, Australian dollars, and Brazilian real.

1 unchanged paragraph

Change July 4, 2026 June 28, 2025 $

Net sales $ 1,557.8 $ 1,447.0 $ 110.8 7.7% $ 2,935.9 $ 2,668.8 $ 267.1 10.0%

Cost of sales 1,120.0 1,077.3 42.7 4.0% 2,154.5 1,995.2 159.3 8.0%

Selling, general, and administrative expense 251.0 216.6 34.4 15.9% 493.2 424.6 68.6 16.2%

Research and development expense 50.4 41.8 8.6 20.6% 96.7 80.3 16.4 20.4%

Restructuring, exit, and impairment charges 7.0 8.0 (1.0) (12.5)% 11.8 9.1 2.7 29.7%

Operating earnings 129.4 103.3 26.1 25.3% 179.7 159.6 20.1 12.6%

Equity earnings 1.7 1.7 — —% 3.3 3.9 (0.6) (15.4)%

Other expense, net (1.1) (1.4) 0.3 (21.4)% (2.7) (0.1) (2.6) NM

Earnings before interest and income taxes 130.0 103.6 26.4 25.5% 180.3 163.4 16.9 10.3%

Interest expense (24.8) (30.0) 5.2 (17.3)% (49.4) (59.7) 10.3 (17.3)%

Interest income 1.2 1.7 (0.5) (29.4)% 2.4 3.4 (1.0) (29.4)%

The following table sets forth certain amounts, ratios, and relationships calculated from the Condensed Consolidated Statements of Comprehensive Income Operations for the three and six nine months ended:

Three Months Ended 2026 vs. 2025 Six Nine Months Ended 2026 vs. 2025 (in millions, except per share data) July 4, Oct 3, 2026 June 28, Sep 27, 2025 $

Change Oct 3, 2026 Sep 27, 2025 $

Net sales $ 1,453.9 $ 1,360.2 $ 93.7 6.9 % $ 4,389.8 $ 4,029.0 $ 360.8 9.0 %

Cost of sales 1,042.1 1,009.4 32.7 3.2 % 3,196.6 3,004.6 192.0 6.4 %

Selling, general, and administrative expense 237.5 215.8 21.7 10.1 % 730.7 640.4 90.3 14.1 %

Research and development expense 49.2 43.4 5.8 13.4 % 145.9 123.7 22.2 17.9 %

Restructuring, exit, and impairment charges 21.1 333.8 (312.7) (93.7) % 32.9 342.9 (310.0) (90.4) %

Operating earnings (loss) 104.0 (242.2) 346.2 NM 283.7 (82.6) 366.3 NM

Equity earnings 1.3 1.5 (0.2) (13.3) % 4.6 5.4 (0.8) (14.8) %

Other expense, net (1.0) (0.4) (0.6) NM (3.7) (0.5) (3.2) NM

Earnings (loss) before interest and income taxes 104.3 (241.1) 345.4 NM 284.6 (77.7) 362.3 NM

Interest expense (22.9) (27.0) 4.1 (15.2) % (72.3) (86.7) 14.4 (16.6) %

Interest income 1.5 1.8 (0.3) (16.7) % 3.9 5.2 (1.3) (25.0) %

1 unchanged paragraph

Earnings before income taxes 106.4 75.3 31.1 41.3% 133.3 103.4 29.9 28.9%

Income tax (benefit) provision (1.8) 15.7 (17.5) NM 4.1 23.6 (19.5) (82.6)%

Net earnings from continuing operations 108.2 59.6 48.6 81.5% 129.2 79.8 49.4 61.9%

Net earnings (loss) from discontinued operations, net of tax 1.6 (0.3) 1.9 NM 1.6 (0.3) 1.9 NM

Net earnings $ 109.8 $ 59.3 $ 50.5 85.2% $ 130.8 $ 79.5 $ 51.3 64.5%

Diluted earnings per common share from continuing operations $ 1.66 $ 0.90 $ 0.76 84.4% $ 1.97 $ 1.21 $ 0.76 62.8%

Earnings (loss) before income taxes 82.9 (266.3) 349.2 NM 216.2 (162.9) 379.1 NM

Income tax (benefit) provision 17.3 (32.0) 49.3 NM 21.4 (8.4) 29.8 NM

Net earnings (loss) from continuing operations 65.6 (234.3) 299.9 NM 194.8 (154.5) 349.3 NM

Net loss from discontinued operations, net of tax (4.0) (1.2) (2.8) NM (2.4) (1.5) (0.9) 60.0 %

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and 208 more changes in the filing

Forward-looking statements 36 changes

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

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3 unchanged paragraphs

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and 36 more changes in the filing

Market risk 1 change

1 unchanged paragraph

and 1 more change in the filing

Unregistered sales of stock 10 changes

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and 10 more changes in the filing

Other information 1 change

2 unchanged paragraphs

and 1 more change in the filing

Exhibits 4 changes

11 unchanged paragraphs

2 unchanged paragraphs

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and 4 more changes in the filing