Brunswick Corporation reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company's net sales were $1,083.0 million compared to $986.1 million a year ago. Operating earnings was $28.6 million compared to loss of $27.0 million a year ago. Earnings before interest and income taxes were $30.1 million compared to loss of $25.5 million a year ago. Earnings before income taxes were $24.0 million compared to loss of $31.8 million a year ago. Net earnings from continuing operations were $17.8 million compared to loss of $9.0 million a year ago. Net earnings were $17.7 million compared to loss of $9.3 million a year ago. Diluted earnings per share from continuing operations were $0.19 compared to loss per share of $0.10 a year ago. Diluted earnings per share were $0.19 compared to loss per share of $0.10 a year ago. Adjusted operating earnings were $90.5 million compared to $67.7 million a year ago. Adjusted pretax earnings were $85.9 million compared to $62.9 million a year ago. Diluted earnings per share from continuing operations, as adjusted were $0.67 compared to $0.52 a year ago.

For the year, the company's net sales were $4,488.5 million compared to $4,105.7 million a year ago. Operating earnings was $409.0 million compared to $331.7 million a year ago. Earnings before interest and income taxes were $415.4 million compared to $340.8 million a year ago. Earnings before income taxes were $389.7 million compared to $315.2 million a year ago. Net earnings from continuing operations were $274.4 million compared to $227.4 million a year ago. Net earnings were $276.0 million compared to $241.4 million a year ago. Diluted earnings per share from continuing operations were $2.98 compared to $2.41 a year ago. Diluted earnings per share were $3.00 compared to $2.56 a year ago. Adjusted operating earnings were $479.7 million compared to $426.4 million a year ago. Adjusted pretax earnings were $460.4 million compared to $409.9 million a year ago. Diluted earnings from continuing operations, as adjusted were $3.48 compared to $2.93 a year ago. Net cash provided by operating activities was $421.9 million compared to $323.5 million a year ago. Capital expenditures were $193.9 million compared to $132.5 million a year ago. Free cash flow totaled $234 million, an improvement of $41 million versus the prior year. Cash generated by continuing operating activities was $426 million, an improvement of $87 million versus the prior year. The improvement reflects increased net earnings and more favorable working capital timing.

The company's guidance for 2017 reflects a diluted EPS, as adjusted, range of $3.90 to $4.05. Finally, for the full-year 2017, the company expects to generate free cash flow in excess of $250 million. Effective book tax rate guidance for full year 2017 is expected to be approximately 31% as adjusted.

For 2018, the company anticipates that effective tax rate will continue to be favorable to the 32% to 33% range provided at Investor Day in November 2015. Operating margin target for 2018 of 6% to 7%.