BRP reports record results

BRP

Mar 27, 2023

BRP has reported revenues of 3076.3 million, an increase of 728.8 million or 31% compared to the same period last year, a record performance for a single quarter in the company’s history.

The impressive results included the fact that retail sales were up for power sports products by 21% compared to the same period last year. They also reported results for the fiscal year FY23 which featured increased revenues by 31% compared to last year reaching an all-time record high of $10,033.4 million, a number that outperformed BRP’s increased FY23 guidance. The company provided strong returns to shareholders with $356 million deployed for share repurchasing and dividend payments and they continue to invest in future market-shaping products with the completion of three acquisitions, the creation of the LVHA group and the start of construction of the CAN-AM electric two wheel motorcycle production facility in Mexico.

Their fiscal 2024 full year guidance is that the company is well positioned to continue its growth with revenues expected to increase in the range of 9% to 12% compared to fiscal year 2023 and that normalized diluted earnings per share are expected to be in the range of $12.25 to $12.75 dollars resulting in an increase of 2% to 6% compared to fiscal 2023.

“We achieved record results for the year with revenues exceeding $10 billion for the first time ever, solid profit margins and Normalized EPS above our guidance range. These achievements speak volumes about the dedication and relentless work of our team, as well as the strength of our product portfolio. We are proud of our outstanding fourth quarter retail performance as we significantly outpaced the Powersports industry and concluded the year with an exceptional 5 percentage points market share increase over the previous year in North America,” said José Boisjoli, President and CEO of BRP.

Of particular note, the company offers FY24 guidance that the Marine Sector is projected to reach increases in the range of 45% to 50%.

Related Posts





Vote for Dorothy, BC’s Iconic Sailing Yacht, in the Classic Boat Awards 2024

CMRA

You are invited to support an historic, recently restored and refitted BC sailboat, Dorothy, by voting for her in a contest, the Classic Boat Awards 2024, run by the UK’s prestigious Classic Boat Magazine. The Maritime Museum of BC (MMBC), owner of this sleek, wooden vessel built in 1897, believes she’s the oldest sailboat in Canada. As she isn’t the only classic yacht in the running, you’re urged to go online and vote for her in the category of Restored Sailing Vessel under 40ft.

Read More




Need to Catch up on News This Week?

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you’re looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here.



Even more BALIs at BALI

CATANA GROUP launches its 14th BALI CATAMARANS model, the BALI 5.8, for the brand’s 10th anniversary! Always bigger, always more powerful, always more… BALI!

This time, the new BALI 5.8 is completing the range from the top down.

Read More


Water heater offers dynamic heat source choices

Hubbell-Marine Stainless steel outlet covers
Hubbell-Marine Stainless steel outlet covers

After a long day on the water, having ample supplies of hot water for multiple showers and meal preparation is a welcome luxury. The 1700 Series Marine Water Heater from Raritan Engineering was created specifically for marine use. With a proven long-life design, it’s available with a 115V AC or 240V AC heating element, and the option to include an innovative heat exchanger that uses the vessel’s hot engine coolant.

Read More