BRP REPORTS FISCAL YEAR 2023 SECOND QUARTER RESULTS

BRP Reports Quarter Results: BRP is having a great year with the fiscal year 2023 second-quarter results.

Highlights:

  • Revenues of $2,439 million, up 28% compared to the same period last year, a record performance for a single quarter in the Company’s history;
  • Normalized EBITDA [1] of $418 million, slightly higher compared to the same period last year and also representing a record performance for a single quarter;
  • Retail sales increase on a percentage basis in the high single-digits and market share gains for SSV in North America despite limited product availability;
  • Normalized diluted EPS [1][2] of $2.94, an increase of $0.05 per share or 2%, while diluted EPS of $2.94, an increase of $0.48 per share, or 20%, compared to the same period last year;
  • Increasing full-year guidance for Revenues, Normalized EBITDA [1] and Normalized EPS – diluted [1] upward by $0.30, now ranging from $11.30 to $11.65.

Recent events:

  • During its Club BRP 2023, the Company introduced three new Can-Am Off-Road youth ATVs and unveiled new PWC models and updates to its ORV products. It also introduced thefully redesigned Manitou, Alumacraft and Quintrex boats featuring the all-new Rotax outboard engine with Stealth Technology. The Company is also pushing forward with its EV plan and revealed two all-electric Can-Am motorcycle models and introduced the Sea-Doo Rise, a completely new electric hydrofoil board;
  • Subsequent to the end of the second quarter, the Company completed the acquisition of 80% of the outstanding shares of Pinion GmbH, a leader in the design and manufacturing of mechanical gearboxes for traditional and electric bicycles. The Company also announced the signature of a definitive agreement with Kongsberg Automotive ASA for the acquisition of substantially all the assets related to the powersport business of Kongsberg Inc., a long-standing BRP supplier of electronic and mechatronic products;
  • On August 8, 2022, the Company was the target of a cyberattack, impacting its operational and information technology systems. One week later, it announced that its production operations were progressively resuming.

A word from the president and CEO

“We delivered record second quarter results while continuing to advance on our strategic initiatives. Our
team’s agility and resilience and the strength of our portfolio allowed us to continue to deliver robust
performance in this unique operating environment,” said José Boisjoli, President and CEO.

“As we are entering the second half of the year, demand for our products continues to be strong across our portfolio of products and markets. With current improvements in supply chain and our additional production capacity, we are in a favourable position to deliver an expected record second half of the year. Taking these factors into account and a stronger than expected second quarter, we are increasing our full-year guidance with an expected Normalized EPS of $11.30 to $11.65,” concluded Mr. Boisjoli.

Valcourt, Quebec, September 14, 2022 – BRP Inc. (TSX:DOO; NASDAQ:DOOO) today reported its
financial results for the three- and six month periods ended July 31, 2022. All financial information is in
Canadian dollars unless otherwise noted. The complete financial results are available on SEDAR and
EDGAR, as well as in the section Quarterly Reports of BRP’s website.


Be sure to check out our other Stories and everything SXS Nation offers.

Subscribe to our blog for updates.

[sibwp_form id=1]

Follow us on Facebook and YouTube

Spread the love

Add A Comment

We're glad you have chosen to leave a comment. Please keep in mind that all comments are moderated according to our privacy policy, and all links are nofollow. Do NOT use keywords in the name field. Let's have a personal and meaningful conversation.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe to our newsletter

Side by Side Nation

Affiliate Disclosure: This site may contain affiliate links, which means that if you click on one of the product links and make a purchase, I may receive a small commission at no additional cost to you. This helps support the blog and allows me to continue to bring you valuable content. Thanks for your support!

Welcome to Side by Side Nation: Your Ultimate Destination for SXS and UTV Enthusiasts!

Get ready to dive headfirst into the electrifying world of off-road adventures with Side by Side Nation, your one-stop interactive online haven exclusively crafted for SXS and UTV owners.

Discover a treasure trove of articles, in-depth reviews, and indispensable guides that cater specifically to you. From detailed vehicle critiques to trade secrets, we've got you covered. Plus, our marketplace resources make buying and selling a breeze, all while offering expert advice to supercharge your SXS and UTV experiences.

But that's not all! Forge unbreakable connections with like-minded members, pinpoint nearby events, and thrilling group rides to take your off-road escapades to the next level. Whether you're a seasoned aficionado or a curious newcomer eager to explore the boundless possibilities of powersports, Side by Side Nation is here to welcome you into a vibrant community that shares your unwavering passion. Join us today, and let the adventure begin!