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BRP Inc. (TSX: DOO, NASDAQ: DOOO) is a global leader in the design, development, manufacturing, distribution, and marketing of powersports vehicles. Founded by Joseph-Armand Bombardier in 1937, the company has continued to innovate for over 80 years. Headquartered in Quebec, Canada, BRP employs approximately 23,000 people and has annual sales of CA$10.4 billion, with its products distributed in more than 130 countries.
BRP offers an extensive range of products under its well-known brands: Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft and pontoons, Can-Am on and off-road vehicles, Alumacraft and Quintrex boats, Manitou pontoons, and Rotax propulsion systems for boats, karts, and recreational aircraft. The company also provides a dedicated line of parts, accessories, and apparel to enhance the riding experience. Committed to sustainability, BRP is focusing on developing electric models and exploring new low-voltage and human-assisted product categories.
In recent years, BRP has achieved significant milestones, including the acquisition of boat manufacturers Alumacraft, Triton (making Manitou pontoon boats), and Telwater in Australia, to bolster its Marine Group established in 2018. The company's products are sold through a network of over 2,450 independent dealers and 150 distributors globally.
Latest News:
- BRP continues to lead the snowmobile market with the introduction of the 2025 Ski-Doo and Lynx lineups, featuring innovations like the RAS RX front suspension for MXZ models and new electric models designed for commercial users and consumers.
- Financial performance: For FY24 Q4, BRP reported net cash flows from operating activities totaling $1,658.1 million, a significant increase from the previous year due to favorable changes in working capital and lower taxes paid.
- Upcoming events: BRP's annual general meeting will be held virtually on May 31, 2024, allowing all shareholders to participate regardless of location.
BRP's commitment to continuous innovation and customer satisfaction has solidified its position as a market leader in the powersports industry.
Can-Am, a BRP Inc. brand (NASDAQ: DOOO), announces its return to the 2025 Dakar Rally with the new Maverick R platform in the T4 Side-by-Side Vehicle Class. The company has assembled a four-driver factory team supported by South Racing, including three-time Dakar UTV Champion Francisco Lopez and 2023 Dakar Rally stage winner Sara Price.
The 2025 Dakar Rally will mark the Maverick R's first FIA-sanctioned race as a homologated vehicle. The platform features innovative tall-knuckle suspension, seven-speed dual-clutch-transmission, and turbo-charged Rotax engine. The 12-day, 8000-kilometer race will run from January 3-17, 2025, in Saudi Arabia.
Can-Am and South Racing have previously secured six consecutive Dakar Rally wins since 2018 with the Maverick X3 platform.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has received TSX approval to renew its normal course issuer bid (NCIB) to purchase and cancel up to 3,331,852 subordinate voting shares between December 10, 2024, and December 9, 2025. This represents 10% of the public float of 33,318,520 shares as of December 4, 2024.
The company can purchase daily up to 57,248 shares through TSX, representing 25% of the average daily trading volume. Under the previous NCIB that expired December 4, 2024, BRP purchased 3,231,999 shares at an average price of $90.76. The Board believes this share repurchase program represents an appropriate use of available cash to increase shareholder value.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) reported Q3 FY2025 financial results showing significant declines across key metrics. Revenues decreased 17.5% to $1,955.7 million, while net income fell 69.7% to $27.3 million. Normalized EBITDA dropped 42.9% to $264.1 million, and normalized diluted EPS decreased by $2.08 to $1.16.
North American retail sales declined by 11%, though the company achieved its objective of reducing North American Off-Road Vehicle network inventory by 22% compared to last year-end. BRP reaffirmed its full-year guidance, adjusted for Marine discontinued operations, projecting revenues between $7.6 and $7.8 billion, and normalized EPS between $4.25 and $4.75.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced its upcoming third quarter FY25 financial results conference call, scheduled for Friday, December 6, 2024. The event will feature President and CEO José Boisjoli and CFO Sébastien Martel, who will present the results and take analyst questions starting at 9 am (EDT). The press release will be distributed at approximately 6 a.m. (EDT) the same day. The presentation will be accessible via telephone and webcast, with recordings available for 30 days after the event.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced its upcoming third quarter FY25 financial results conference call, scheduled for Friday, December 6, 2024. The event will feature President and CEO José Boisjoli and CFO Sébastien Martel, who will present the quarterly results and take analysts' questions starting at 9 am EDT. The press release containing the results will be distributed earlier that day at approximately 6 a.m. EDT. The presentation will be accessible via telephone and webcast, with recordings available for 30 days after the event.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced the initiation of a process to sell its Marine businesses, including Alumacraft, Manitou, Telwater (Quintrex, Stacer, Savage and Yellowfin), and Marine parts, accessories and apparel. This decision excludes Sea-Doo personal watercraft, Sea-Doo Switch pontoons, and jet propulsion systems. The company aims to focus on its Powersports portfolio and OEM Engine business due to challenging economic conditions.
BRP's President and CEO, José Boisjoli, stated that the company has built a solid foundation in the Marine sector through investments in innovative products and facility upgrades. The sale is expected to be completed in the first quarter of Fiscal Year 2026. BRP has retained National Bank Financial Inc. to assist with the sale process and does not anticipate any impacts on its current Fiscal Year 2025 guidance.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced a change to its Board of Directors. Ms. Estelle Métayer has resigned from her position as Director, effective immediately, citing personal reasons. Ms. Métayer had been serving on the Board since 2014.
José Boisjoli, Chair of the Board of Directors, expressed gratitude for Ms. Métayer's contributions over the past decade, highlighting her strategic insights and leadership in governance. He noted that her expertise has guided the company through pivotal moments.
Ms. Métayer, in turn, thanked the shareholders for their trust and expressed pride in contributing to BRP's growth and innovation during her tenure.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has officially inaugurated its Design & Innovation Center in Palm Bay, Florida, as part of its ongoing expansion in the region. This center, dedicated to advanced concepts and designs for on-water products, aims to bring significant innovation to the marine industry. BRP has invested over $15 million in its Palm Bay facility, which includes enhanced Research & Development (R&D) capabilities and additional land for diverse testing environments.
The Palm Bay site, employing 60 people, focuses on engineering jet propulsion systems, powerpacks, calibration, and testing. It is one of BRP's three global Design Centers, alongside facilities in Valcourt, Québec, and Sophia Antipolis, France. The Palm Bay team has designed notable products such as the Manitou Cruise and Explore pontoons, Alumacraft Trophy and Competitor aluminum boats, and the Quintrex Freestyler boat.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) reported its Q2 FY2025 financial results, showing a significant decrease in performance. Revenues dropped 33.7% to $1,841.9 million, while net income fell by $331.5 million to $7.2 million. The company's Normalized EBITDA decreased by 58% to $198.5 million, and Normalized diluted EPS fell by $2.60 to $0.61. North American Powersports retail sales declined by 18%. As a result, BRP has adjusted its full-year guidance, now expecting revenues between $7.8 and $8.0 billion, and Normalized diluted EPS between $2.75 and $3.25. Despite challenges, BRP continues to innovate, introducing new products across its Can-Am, Sea-Doo, and Alumacraft lines, including its entry into the electric motorcycle market.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced its upcoming second quarter FY25 financial results conference call, scheduled for Friday, September 6, 2024, at 9 am (EDT). The company's President and CEO, José Boisjoli, along with CFO Sébastien Martel, will present the results and address analysts' questions. The press release detailing the results will be distributed on September 6 at approximately 6 a.m. (EDT).
Investors and analysts can join the call via telephone or webcast. The event will be accessible to media and interested participants, with an archived recording available for 30 days following the original broadcast. Business media are permitted to join but cannot ask questions during the call.
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