There is a reasonable chance that something on your boat carries a Brunswick Corporation label. The outboard bolted to the transom, the chartplotter at the helm, the hull beneath your feet, perhaps even an eFoil sitting in the garage. The Illinois-based marine giant has reported first quarter 2026 net sales of US$1.4 billion (NZ$2.39 billion), a 13% lift on the same period last year, and its footprint in the New Zealand boating market runs considerably deeper than most Kiwi boaters would ever suspect.
Start with something close to home. Rayglass, one of New Zealand's most recognised boat manufacturers, is a Brunswick company. The Legend and Protector models built at the Auckland factory sit within the same corporate portfolio as Boston Whaler, Sea Ray, and Bayliner. The connection rarely comes up at the boat ramp, yet it gives Rayglass access to the engineering capability, technology pipeline, and global supply chain of the largest marine company in the world.
Mercury Marine turned in a particularly strong quarter. Outboard orders worldwide were up more than 15% on the prior year, and Mercury's performance at the American boat show circuit was striking. The Miami Boat Show produced 60% overall market share and 84% on-the-water share, while Palm Beach delivered 70% overall. U.S. retail market share has climbed 200 basis points year to date. A tariff on Mercury's Japanese competitors remains in place, a structural advantage Brunswick is watching carefully.
The Brunswick presence becomes even harder to ignore when attention turns to electronics. The company's Navico Group owns Simrad, B&G, Lowrance, and Mastervolt, four brands that between them cover the helm on a large proportion of New Zealand's recreational fleet. Lowrance fish finders sit on trailer boats the length of the country, Simrad multifunction displays are mounted on sportfishers, and B&G instruments are standard equipment on offshore racers. There are few categories of New Zealand boating they do not touch.
Navico posted a strong quarter, with adjusted operating earnings of US$18.4 million (NZ$31.5 million), up 64% on the prior year. New products launched at the Miami Boat Show included the Simrad NSO 4 multifunction display, which runs the NEON Android operating system, while Lowrance's ActiveTarget 2XL picked up an innovation award. CEO David Foulkes described Navico as having moved from a period of stabilisation into genuine growth, and the Q1 numbers support that view.
Brunswick acquired Fliteboard, the Australian-founded eFoil brand, in 2023, placing it inside Mercury Marine. The Flite RACE, the fastest Fliteboard ever produced, was developed in collaboration with Mercury Racing and launched earlier this year. Fliteboard has appeared at the Auckland On Water Boat Show and is available in New Zealand through Sports Marine, with riders now active in more than 90 countries.
Freedom Boat Club, the world's largest boat club operation with 446 locations globally, is another Brunswick business. The model allows members to book boats trip by trip, sidestepping the costs and commitments of ownership, and it has a presence in New Zealand with a growing membership base. In the first quarter alone, Freedom Boat Club added four new locations, grew member trips by 20%, and improved same-store sales by 10%. Since Brunswick acquired Freedom in 2019, the club has generated approximately US$300 million (NZ$513 million) in enterprise synergies across the wider portfolio. Earlier this month, Brunswick also acquired the largest remaining franchise club in the network, a move that added 21 locations across the Greater Boston and Cape Cod region.
Australia and New Zealand received a specific mention in Brunswick's results commentary, with both markets identified as ones the company is monitoring as oil supply tightens following geopolitical events in the Middle East. Brunswick's direct exposure to the region is limited, but it is keeping a close eye on any flow-on effects in this part of the world.
The headline financial figures were solid across the board. Adjusted earnings per share came in at US$0.70 (NZ$1.19) for the quarter, up 25%. Operating earnings reached US$83 million (NZ$142 million). Full year revenue guidance is set at US$5.65 billion to US$5.8 billion (NZ$9.66 billion to NZ$9.92 billion), with free cash flow guidance of US$350 million-plus (NZ$598 million-plus). Brunswick has now delivered its 14th consecutive annual dividend increase and repurchased US$20 million (NZ$34 million) in shares year to date.
New product activity during the quarter extended well beyond the boat show launches. The Boston Whaler 330 Outrage and the Sea Ray SLX 360 both arrived, joined by a keyless engine start system from Mercury and Boost, an over-the-air performance upgrade that extracts more power from existing outboards without requiring a dealer visit. Brunswick collected nearly 50 awards during the quarter and earned its first-ever place on Fast Company's Most Innovative Companies list, recognised alongside businesses well outside the marine sector.
Brunswick does not come up often in dockside conversation. Look closely at the equipment on almost any New Zealand boat, though, and there is a solid chance it traces back to Mettawa, Illinois.
