Briggs & Stratton recently released its fiscal second quarter financial report for the period ending January 1 (Oct/Nov/Dec). Total sales were up 3.6% compared to last year’s second quarter.
Products Segment sales were up 10.5%, primarily due to increased commercial lawn equipment sales and strong generator sales in response to Hurricane Matthew in the Southeast.
Engines Segment sales were down 2%, primarily because the company believes end-product manufacturers are building product a little later in the year than last season.
"We are pleased with how the first half of our fiscal year has played out," said Todd J. Teske, chairmen, president and CEO of Briggs & Stratton. "We have set a solid foundation on which to deliver our full-year projected sales and profitability growth, which included modest support from generator sales immediately following Hurricane Matthew. Our engine placement on lawn and garden products is set for the upcoming season and is consistent with last season as anticipated. We continue to introduce new, innovative residential products and engines that will help people get the job done.
"We have achieved strong sales growth of commercial engines and products over the past several years and sustaining this momentum is a key focus for us. We expect that our new products and engines this year will result in further success in this market. The new offerings are designed to improve the productivity of people who use our equipment to earn a living. This includes the launch of the Oil Guard system on our Ferris mowers which allows for oil changes every 500 hours compared to the typical 100 hours resulting in more uptime and more lawns getting cut.
“We also continue to offer a strong lineup for landscapers through our Billy Goat branded products including our new easy to use sod cutter that we launched for the upcoming season. Plus, we have introduced product expansions into larger, light commercial-style standby generators, as well as towable air compressors and generators that are used on job sites. These new offerings, along with many other actions we are taking, further demonstrate that we are executing our strategy of investing in higher value, higher margin products while diversifying our business. All things considered, we believe that we are set up for a solid back half of the fiscal year."
