Briggs & Stratton reports second quarter loss

Freeman Staff

Jan. 24, 2019

WAUWATOSA Briggs & Stratton Corp. (BGG) on Wednesday reported a loss of $2.6 million in its fiscal second quarter.

The Wauwatosa-based company said it had a loss of 7 cents per share. Earnings, adjusted for nonrecurring costs, came to 20 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The engine maker posted revenue of $505.5 million in the period, topping Street forecasts.

Three analysts surveyed by Zacks expected $463.9 million.

Briggs & Stratton expects full-year earnings to be $1.10 to $1.30 per share, with revenue in the range of $1.9 billion to $1.96 billion.

Briggs & Stratton shares have increased almost 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.71, a fall of 48 percent in the last 12 months.