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.
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.
BRP Inc. (NASDAQ: DOOO) has scheduled its third quarter FY2021 financial results conference call for November 25, 2020, at 9 a.m. EST. José Boisjoli, President and CEO, along with CFO Sébastien Martel, will present the fiscal results and respond to analyst inquiries. The results will be released via newswires on the same day at approximately 6 a.m. EST. Interested parties can join the call or view a live webcast. BRP is a leader in powersports with a diverse product portfolio generating annual sales of CA$6.1 billion across over 120 countries.
BRP (TSX: DOO; NASDAQ: DOOO) and Arctic Cat have reached a global settlement resolving ongoing intellectual property disputes, leading to the dismissal of two active court cases in the US and Canada. This settlement includes disputes over rider-forward patents and Arctic Cat's snowmobiles with pyramidal frame designs. Following this agreement, Arctic Cat can immediately resume sales and delivery of its snowmobile lineup in Canada. Both companies commit to collaborate for the advancement of the snowmobile industry.
BRP announced the closing of a secondary offering where Bain Capital and other shareholders sold 2,000,000 subordinate voting shares at $75.45 each, totaling $150.9 million in gross proceeds. Bain offered 1,618,011 shares, while other shareholders sold 381,989 shares. Notably, BRP will not receive any proceeds from this offering. Post-offering, Bain holds about 18% of issued shares, equating to roughly 30.8% of voting power. The shares are listed on TSX and NASDAQ under symbols DOO and DOOO, respectively.
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