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Briggs & Stratton tops 3Q profit forecasts

WAUWATOSA, Wis. (AP) _ Briggs & Stratton Corp. (BGG) on Thursday reported fiscal third-quarter earnings of $35.8 million.

On a per-share basis, the Wauwatosa, Wisconsin-based company said it had profit of 83 cents.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The engine maker posted revenue of $597 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $615.8 million.

Briggs & Stratton expects full-year earnings to be $1.31 to $1.46 per share, with revenue in the range of $1.86 billion to $1.9 billion.

Briggs & Stratton shares have dropped 3.5 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.48, a decline of almost 7 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BGG at https://www.zacks.com/ap/BGG

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Keywords: Briggs & Stratton, Earnings Report