Briggs & Stratton Maintains FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter of fiscal 2020 on Friday, Briggs & Stratton Corp. (BGG) maintained its adjusted earnings and net sales guidance for the full-year 2019.

For fiscal 2019, the company continues to project adjusted earnings in a range of $0.20 to $0.40 per share on net sales between $1.91 billion and $1.97 billion.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share on net sales of $1.90 billion for the year. Analysts' estimates typically exclude special items.

"Managing working capital is an important focus. Despite having seasonally elevated inventory levels, we are tracking to plan to deliver a meaningful reduction in inventory by the end of the fiscal year. This, combined with the refinancing of our revolving credit facility, is an important first step in strengthening the balance sheet," stated Todd Teske, Chairman, President and Chief Executive Officer.