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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 (TSX: DOO) (NASDAQ: DOOO) is set to introduce its Lynx snowmobiles to North America, marking the debut of a new sled brand in decades. The company will launch two high-end models, the Lynx RAVE RE and Lynx Boondocker DS, aimed at advanced riders seeking an exhilarating Nordic riding experience. This strategic move broadens BRP's market offerings in the snowmobile segment and targets core enthusiasts eager for innovative riding styles. Both models will be available for purchase this spring at select dealers.
BRP (TSX: DOO) has unveiled its 2022 Ski-Doo model lineup, showcasing significant innovations like the Smart-Shox semi-active suspension system for enhanced handling and two new powerful Rotax 4-stroke turbo engine options, including a record 180hp engine. These advancements cater to a growing audience of snowmobiling enthusiasts, promoting a better riding experience. The lineup also features the return of the iconic Mach Z muscle sled. With annual sales of CA$6.1 billion, BRP emphasizes its commitment to innovation and customer satisfaction in the powersports industry.
On February 16, 2021, BRP (TSX: DOO, NASDAQ: DOOO) announced a successful refinancing of its term loan facility. The company increased its Term Loan B-1 from US$1,208 million to US$1,508 million, thereby repaying its US$600 million Term Loan B-2. This refinancing reduces average interest rates, lowering expenses and improving liquidity. Moody's upgraded BRP's corporate family rating from B1 to Ba3, highlighting enhanced balance sheet strength. This initiative positions BRP for future growth and value creation for shareholders.
BRP (TSX: DOO; NASDAQ: DOOO) celebrates its fourth consecutive Dakar Rally victory, marking a historic achievement for its Can-Am Off-Road vehicles. The Maverick X3 racers completed over 114,024 miles (183,504 km) in challenging conditions, claiming the top spots in both the Lightweight Vehicle category and the Side-by-Side class. Notably, all top 11 finishers drove Can-Am vehicles, demonstrating their unrivaled performance and reliability. The success underscores BRP's commitment to innovation and enhancing the overall driving experience.
BRP (TSX: DOO; NASDAQ: DOOO) celebrated a record-breaking year for Can-Am Off-Road racing in 2020, highlighted by notable victories in prestigious events like the Dakar Rally. The Can-Am Maverick X3 led production-based UTV Turbo categories, showcasing performance, reliability, and versatility across various terrains. Key wins include Casey Currie’s historic Dakar victory and multiple championship titles in the Ultra4 King of the Hammers and SCORE Championship. With a strong commitment to product innovation through racing, BRP aims to enhance consumer experiences with robust and dependable off-road vehicles.
The Board of Directors of BRP (TSX: DOO; NASDAQ: DOOO) has appointed Katherine Kountze and Ernesto M. Hernández as new independent directors. Kountze, currently CIO at Eversource Energy, brings expertise in technology strategy, while Hernández, former President of GM Mexico, offers extensive knowledge in automotive engineering and market management. The Board believes their combined skills will enhance BRP's strategic direction and growth in existing and new markets, reinforcing its leadership in the powersports industry.
BRP Inc. (TSX:DOO; NASDAQ: DOOO) has received approval from the Toronto Stock Exchange (TSX) for a normal course issuer bid (NCIB) to repurchase up to 4,278,028 subordinate voting shares, equating to about 10% of the public float, between December 1, 2020, and November 30, 2021. The NCIB allows BRP to acquire shares via open market transactions or other permitted methods. The company intends this buyback as a means to enhance shareholder value. Previously, under a similar NCIB that expired in April 2020, BRP repurchased nearly 4 million shares at an average price of $52.31.
BRP Inc. (TSX:DOO; NASDAQ:DOOO) will hold its third quarter FY2021 financial results conference call on November 25, 2020, at 9 a.m. EST. José Boisjoli, President and CEO, along with CFO Sébastien Martel, will present the financial results and address analysts' questions. The press release revealing the third quarter results will be distributed around 6 a.m. EST on the same day. BRP is a leader in powersports vehicles, with annual sales of CA$6.1 billion and a global workforce of 12,600.
BRP Inc. (TSX:DOO; NASDAQ:DOOO) reported Q3 FY21 results showcasing revenues of $1,674.7 million, up 1.9% year-over-year. Gross profit increased to $486.9 million with a margin of 29.1%. Net income rose to $198.7 million, translating to $2.22 EPS, a 42.7% increase. The normalized EPS guidance for FY21 has been raised to $5.00-$5.25, reflecting a growth expectation of 31%-37%. The Board approved a quarterly dividend of $0.11 per share, maintaining shareholder returns amid market opportunities.
BRP Inc. (TSX:DOO; NASDAQ:DOOO) is set to release its third quarter FY2021 financial results on November 25, 2020, at 6 a.m. EST, followed by a conference call at 9 a.m. EST featuring CEO José Boisjoli and CFO Sébastien Martel. Media will have access to the call but will not participate in questioning. The financial results will highlight the company's performance amid challenges faced in the powersports market.
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