Welcome to our dedicated page for Brp news (Ticker: DOOO), a resource for investors and traders seeking the latest updates and insights on Brp stock.
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.
On August 7, 2022, BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced new products for 2023 aimed at enhancing the rider experience across its powersports offerings. The Can-Am Off-Road lineup introduces three youth ATVs and updates to existing models, while the Can-Am On-Road features fresh styles and customization options for its Spyder and Ryker vehicles. Sea-Doo launches two new personal watercraft, the Explorer Pro 170 and the RXP-X Apex 300, focusing on performance and adventurous features. The company emphasizes accessibility and fun in its product innovation, appealing to a broader consumer base.
BRP Inc. (TSX:DOO) has launched innovative 2023 models of Manitou, Alumacraft, and Quintrex boats featuring the all-new Rotax Outboard Engine with Stealth Technology. This design minimizes noise and frees up space, enhancing the boating experience. The engines come in 115 and 150 hp configurations, offering 20% better fuel efficiency and significantly reduced emissions. Each new model boasts modern aesthetics and improved functionality, promising exceptional value in the competitive boating market.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has acquired an 80% stake in Pinion GmbH, a Germany-based company specializing in gearbox technology for bicycles. This strategic move aims to enhance BRP's portfolio in sustainable mobility, enabling the development of electric human-assisted products. Pinion's team of over 60 experienced employees will continue to lead the company, which serves over 100 bicycle manufacturers. This acquisition follows BRP's previous purchase of Great Wall Motor Austria GmbH, further solidifying its expertise in electric powertrains.
BRP Inc. has successfully completed the acquisition of Great Wall Motor Austria GmbH, an esteemed electric vehicle research and development center located in Kottingbrunn, Austria. This strategic move aims to bolster BRP's capabilities in e-drive systems and transmissions. With this acquisition, BRP-Rotax anticipates leveraging the expertise of the new team to enhance its electric vehicle technology across existing and future product lines.
On July 7, 2022, BRP (TSX: DOO) (NASDAQ: DOOO) announced an agreement to acquire Great Wall Motor Austria GmbH, enhancing its electric vehicle (EV) capabilities. This acquisition focuses on e-drive systems and transmissions, securing ongoing employment for 53 skilled employees. The new R&D center, located near Vienna, Austria, will leverage local talent from nearby universities. The transaction is contingent on customary regulatory approvals, expected to finalize by the end of Q2 of this fiscal year.
BRP (TSX: DOO) (NASDAQ: DOOO) has successfully increased its total revolving credit facility by CA$400 million, bringing the total to CA$1.5 billion. Additionally, the company secured a US$100 million term loan from existing lenders. CFO Sébastien Martel emphasized that these transactions enhance BRP's liquidity and reflect the positive momentum from the previous fiscal year. The term loan will bear interest at Term SOFR plus 3.0% and is due on June 10, 2024. Proceeds are intended for general corporate purposes and financing-related fees, solidifying BRP's financial position for future growth.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) will host a live webcast for its 2022 Investor and Analyst Day on June 15, 2022, at 8:00 a.m. EDT, from Florida. Key executives, including CEO José Boisjoli and CFO Sébastien Martel, will outline the company's current activities and provide updates on the Mission 25 (M25) 5-year plan, along with its financial targets. Participants can access the live webcast and the presentation at www.brp.com.
On June 3, 2022, BRP Inc. (TSX: DOO) (NASDAQ: DOOO) conducted its annual shareholders' meeting virtually. The company thanked Michael Hanley for his decade-long service as a board member. Shareholders voted to elect all nominated directors, with votes for key nominees exceeding 94%. Barbara Samardzich was appointed as Lead Director, while Nicholas Nomicos became the Chairman of the Audit Committee. Changes were also made to the Nominating, Governance and Social Responsibility Committee. BRP reported annual sales of CA$7.6 billion, showcasing its strong market position in the powersports industry.
BRP Inc. (TSX: DOO) reported revenues of $1,809.3 million, consistent with the previous year, while Year-Round product sales rose to a record $934.4 million. The company saw normalized diluted EPS decline to $1.66, down $0.87, and normalized EBITDA fell 28.2% to $272.1 million. Despite these challenges, BRP reaffirmed its FY23 revenue guidance, expecting growth between 24% to 29%, and raised its normalized EPS forecast to $11.00-$11.35. The company continues to navigate supply chain constraints while launching new products.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced the launch of its "Ride Out Intimidation" program aimed at combating intimidation globally. The initiative involves partnerships with organizations like Born This Way Foundation, Ditch the Label, and Jasmin Roy Sophie Desmarais Foundation to raise awareness and implement impactful projects. BRP will adopt a Zero-intimidation approach and integrate it into its Code of Ethics. The company aims to invest 1% of pre-tax profits in community causes by 2025 through its CSR25 program.
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