Welcome to our dedicated page for BRP Common Subordinate Voting Shares news (Ticker: DOOO), a resource for investors and traders seeking the latest updates and insights on BRP Common Subordinate Voting Shares 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 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.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced significant executive appointments to bolster future growth and resilience. Effective immediately, Thomas Uhr becomes Chief Technology Officer, overseeing new product technologies and the EV program. Sandy Scullion is now President of the Powersports Group, managing operations in three countries. Karim Donnez leads the Marine Group, targeting industry transformation following recent acquisitions. Minh Thanh Tran is promoted to Senior Vice-President of Corporate Strategy, focusing on growth initiatives. These changes are expected to enhance overall business performance.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) will present its first quarter FY2023 financial results on June 3, 2022, at 9 a.m. EDT during a conference call. The results will be announced on newswires at 6 a.m. EDT the same day. Following the call, the company's Annual Meeting of Shareholders will take place at 11 a.m. EDT, where fiscal year results ended January 31, 2022 will be discussed. Shareholders can attend virtually, and questions can be submitted in advance. BRP generates annual sales of CA$7.6 billion, with operations in over 120 countries.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) will announce its first quarter FY2023 financial results on June 3, 2022, at 6 a.m. EDT, followed by a conference call at 9 a.m. EDT led by President José Boisjoli and CFO Sébastien Martel. The Annual Meeting of Shareholders will occur the same day at 11 a.m. EDT. A live webcast will be available for both events, enhancing accessibility for shareholders globally. The company's annual sales are CA$7.6 billion, highlighting its robust position in the powersports market.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has successfully completed its substantial issuer bid (SIB), purchasing 2,427,184 subordinate voting shares at $103.00 each, totaling approximately $250 million. This represents about 3% of the total shares outstanding as of May 10, 2022. The SIB was oversubscribed, leading to approximately 91% of the successfully tendered shares being purchased. The payment for the shares will be settled by Computershare on or about May 16, 2022. A deemed dividend of $97.65 per share was also triggered, qualifying as an eligible dividend under Canadian tax law.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced the preliminary results of its substantial issuer bid (SIB) to repurchase subordinate voting shares for up to CA$250 million. The SIB expired on May 6, 2022, with BRP expecting to purchase 2,427,184 shares at CA$103.00 each, representing about 3% of its total issued shares. A total of 2,653,165 shares were validly tendered, resulting in an expected proration of approximately 91% for successful auction tenders. The final results will be verified by Computershare.
BRP Inc. (TSX: DOO, NASDAQ: DOOO) will conduct its annual general meeting of shareholders on June 3, 2022, at 11:00 a.m. EDT, via live webcast. This virtual meeting ensures equal access for shareholders worldwide. Registered shareholders are encouraged to vote in advance and can submit questions via email or during the meeting. Voting results will be disclosed post-meeting. BRP, a leader in powersports, reported annual sales of CA$7.6 billion and employs nearly 20,000 people globally.
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