B. Riley FBR analyst Eric Wold analyzed the potential direct and indirect operational and financial impacts from the ongoing coronavirus situation on his Media & Entertainment and Outdoor Leisure coverage. The analyst found a handful of companies that he believes have experienced "valuation declines that are more reflective of that perceived risk as opposed to our view of reality." These include InterDigital (IDCC), TiVo (TIVO) and Brunswick (BC). With 90% of license revenues coming from fixed-fee agreements and the other 10% from per-unit agreements with manufacturers outside of China, InterDigital has little to no risk to its 2020 outlook from the outbreak, Wold tells investors in a research note. The analyst also sees little to no risk to the 2020 outlook from the outbreak for TiVo and believes Brunswick's supply chain is back online and that its shipments had already been pulled forward ahead of any potential issues.

Citi analyst James Hardiman raised the firm's price target on Brunswick to $100 from $98 and keeps a Buy rating on the shares. The company's Q1 performance and Q2 guide were both in-line with expectations but better than feared, and while management maintained the full year outlook, investor skepticism was evident in the form of a 7% decline in shares post earnings, the analyst tells investors in a research note. The firm says Brunswick "is far from out of the woods," with consumer demand and by extension dealer willingness to take on orders in a "punishing" interest rate environment and uncertain macro backdrop the key to the near term.

Sees 2024 revenue $6.0B-$6.2B, consensus $6.03B.

Reports Q1 revenue $1.37B, consensus $1.36B. "Our businesses delivered solid results, consistent with expectations, as our continued market share gains, benefits from a wealth of outstanding new products, and comprehensive cost control measures resulted in financial performance in-line with estimates, despite continued economic uncertainty. Our early season internal boat unit retail performance is tracking with our initial outlook of flat to 2023, with boat show results slightly above prior year levels on a unit basis and with a richer mix of premium products. We continue to support retail sales with levels of marketing and promotions appropriate to the environment, while successfully managing field inventory to target levels ahead of the prime selling season. Marine dealers, manufacturers and retailers continue to demonstrate caution with early-season wholesale ordering patterns, resulting in reduced shipment rates across our product businesses as compared to Q1 2023 in which pipelines were being filled. During the quarter, we successfully completed a planned debt issuance of $400M to cover the refinance of our only near-term debt, further solidifying our cash position and balance sheet," said CEO David Foulkes.