Briggs & Stratton has ‘adequate’ liquidity and ‘strong’ balance sheet

By Devika Patel

Knoxville, Tenn., Aug. 17 – Briggs & Stratton Corp. ended its fiscal year with “adequate” liquidity, a “strong” balance sheet and a leverage ratio of 1.74x.

“The balance sheet continues to be strong to support our strategic priorities moving forward,” senior vice president and chief financial officer Mark A. Schwertfeger said on the company’s fourth quarter and fiscal 2017 year-end earnings conference call on Thursday.

“[Our leverage ratio of 1.74x] is well within our debt covenants and provides us with adequate liquidity moving forward,” he said.

The company ended fiscal 2017 with total cash on hand of $62 million and net debt of $161 million.

Last 12 months’ EBITDA was $163 million.

Based in Wauwatosa, Wis., Briggs & Stratton makes gasoline engines for outdoor power equipment.

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