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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.
BRP Inc. (TSX: DOO) announced strong FY22 Q4 financial results, with revenues of $2,347.5 million, up 29.3% year-over-year. Normalized diluted EPS reached $3.00, rising by 84.0% for the full year with record annual revenues of $7,647.9 million. The company expects FY23 revenues to grow 24% to 29% and normalized EPS to increase 8% to 12%. Expansion includes a new facility in Mexico and a return to electric motorcycles by mid-2024. Shareholder returns totaled $726 million through buybacks and dividends.
BRP Inc. (DOOO) will hold its fourth quarter FY22 financial results conference call on March 25, 2022, at 9 a.m. (EDT). The press release will be available on newswires at approximately 6 a.m. (EDT) on the same day, detailing the financial results. José Boisjoli, President and CEO, and Sébastien Martel, CFO, will discuss the results during the call. Interested parties can access the event via a toll-free call or a webcast. BRP is a leader in powersports with annual sales of CA$6 billion and operations in over 130 countries.
BRP announces the creation of nearly 200 new jobs at its Manitou manufacturing plant in Michigan, effectively doubling its workforce in the state. Construction will begin in April to expand the Manitou pontoon boat plant in Lansing and add manufacturing capacity in St. Johns. The company is receiving performance-based training credits and grants from local partners, enhancing its workforce development support. BRP aims to leverage Michigan's skilled workforce to meet the growing demand for its marine products.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) will announce its fourth quarter financial results for FY22 on March 25, 2022, around 6 a.m. (EDT). The conference call featuring CEO José Boisjoli and CFO Sébastien Martel is set for 9 a.m. (EDT). Investors can join via telephone or webcast. BRP has a strong presence in the powersports sector, generating annual sales of CA$6.0 billion and employing over 14,500 people worldwide.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has launched the fifth generation of its REV platform, marking 20 years of innovation in riding experience. The new REV Gen5 features a sophisticated design for deep snow and trail riders, including a powerful 2-stroke turbo engine and advanced connectivity options. New models such as the Neo and Neo+ are introduced for beginners and youth, starting at $6,399 USD. The 2023 Ski-Doo lineup emphasizes ease of use, performance, and family-friendly options, with annual sales reaching CA$6 billion and a focus on enhancing the snowmobiling experience.
BRP's Lynx brand has unveiled the Shredder deep snow snowmobiles, featuring the new Radien2 platform, enhancing agility and control. The Shredder offers an optional powerful 2-stroke turbocharged engine with 180 hp and a 10.25" Color Touch Screen Display for connectivity. In North America, two new crossover models, Xterrain RE and Xterrain Brutal, were introduced. The 40th anniversary of the GLX 5900 model is celebrated with a limited edition Commander GLX 5900 in Europe, alongside new youth models Rave 120 and Rave 200 for the next generation.
On February 14, 2022, BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced record demand for its Can-Am Off-Road vehicles, emphasizing ongoing investments in innovation and product development. The new 2022 Can-Am Defender 6x6 Limited enhances comfort with a fully enclosed cab and auto climate control while maintaining an impressive towing capacity of 3,000 lbs. The lineup also introduces the Defender MAX Lone Star CAB, featuring climate control and premium JL Audio Roof. The MY22 collection showcases a complete offering for all riders, reinforcing the brand’s strong momentum.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has announced the expansion of its design capabilities with a new Design Studio in Sophia-Antipolis, France, set to open in December 2022. This facility will focus on sustainable mobility concepts and will enhance collaboration with BRP's European partners. The location was chosen for its vibrant culture and ideal climate, which will foster innovation. The studio aims to diversify the workforce and attract top design talent, reinforcing design and innovation as core elements of BRP's growth strategy.
The Can-Am Off-Road brand at BRP (TSX: DOO) (NASDAQ: DOOO) has achieved significant success at the 2022 Dakar Rally, securing its fifth consecutive championship. Can-Am racers dominated both the T4 and T3 categories, with the top 17 finishers in the T4 category driving Can-Am vehicles. Austin Jones and navigator Gustavo Gugelmin won the T4 category, while Francisco Lopez topped the T3 category. The event covered 5,200 miles through challenging terrain, highlighting the performance and reliability of Can-Am's Maverick X3. This victory solidifies Can-Am's position as a leader in off-road racing.
BRP Inc. (TSX:DOO, NASDAQ:DOOO) announced the renewal of its normal course issuer bid (NCIB) for purchasing up to 3,787,945 subordinate voting shares over the next 12 months, starting December 3, 2021. This represents approximately 10% of its public float. The purchases will be conducted on the Toronto Stock Exchange, allowing BRP to acquire a maximum of 59,716 shares daily. The previous NCIB saw BRP buy 4,278,028 shares at an average price of $93.65. This initiative aims to enhance shareholder value.
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