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.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) announced two key appointments in its executive team on September 26, 2022. Stéphane Bilodeau will become Chief Information Officer effective October 11, tasked with enhancing the company's information technologies to align with its business transformation. Additionally, BRP has created a new business unit, the Low Voltage & Human Assisted Group (LVHA), led by Minh Thanh Tran, focusing on emerging product categories. The company is also pursuing new markets with potential worth over $70 billion, bolstered by recent acquisitions.
BRP Inc. (TSX: DOO) reported record revenues of $2,439 million for Q2, up 28% year-over-year. Normalized EBITDA reached $418 million, matching the previous year's record. Diluted EPS was $2.94, showing a 20% increase. The company announced an upward revision of its full-year revenue and EPS guidance, now expecting Normalized EPS of $11.30 to $11.65. New product launches and acquisitions signal strong market positions, despite the lingering impact of a cyberattack from August 2022.
BRP Inc. (TSX: DOO, NASDAQ: DOOO) will announce its second quarter FY23 financial results in a conference call on September 14, 2022, at 9 a.m. EDT. The press release will be available on newswires at approximately 6 a.m. EDT the same day. CEO José Boisjoli and CFO Sébastien Martel will present the results and answer questions from analysts. This event will be accessible via webcast for media and investors. The company emphasizes that forward-looking statements are subject to uncertainties, which may impact actual results compared to projections.
BRP Inc. (TSX: DOO, NASDAQ: DOOO) will announce its second quarter FY23 financial results on September 14, 2022, at 6 a.m. (EDT). CEO José Boisjoli and CFO Sébastien Martel will host a conference call at 9 a.m. (EDT) to discuss the results and address analyst questions. The press release will be available on newswires, and the conference can be accessed by phone or through a webcast. Forward-looking statements may include risks and uncertainties affecting future performance. Details can be found in the annual information form dated March 24, 2022.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has reported a cyberattack affecting employee information, with compromised credentials for staff using BRP computers for personal use. To safeguard employee data, the company has urged employees to change personal passwords and will offer credit monitoring services. The investigation is ongoing, but there is currently no evidence of impact on client personal information. BRP prioritizes mitigating the cyberattack's effects and is implementing measures to protect its systems and data integrity.
On August 23, 2022, BRP Inc. (TSX: DOO) (NASDAQ: DOOO) confirmed a data leak following a recent cyberattack. Unauthorized access to information of certain employees and suppliers was detected on the dark web, but BRP believes the impact on data privacy is limited. The company has contacted affected employees and is offering credit monitoring services. Currently, there is no evidence that client personal information has been compromised. BRP is conducting an ongoing investigation and will update stakeholders if circumstances change.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) is resuming operations following a cyberattack that limited its internal systems. Manufacturing sites in Valcourt, Rovaniemi, Sturtevant, and Gunskirchen will be fully operational by August 16, 2022, with other locations ramping up production throughout the week. The attack was traced to a third-party service provider, but there is currently no evidence of client data exposure. BRP has implemented a recovery plan and expects no impact on its year-end financial guidance.
On August 8, 2022, BRP Inc. (TSX:DOO) experienced a significant cybersecurity incident, prompting immediate containment measures. The company has engaged IT professionals and cybersecurity experts to secure its systems and investigate the breach. Operations are currently suspended, which may lead to delays in transactions with customers and suppliers. BRP cautions that the impact of this incident on future business is uncertain and may involve risks that could significantly differ from current expectations.
BRP Inc. (TSX: DOO) (NASDAQ: DOOO) has entered into an agreement to acquire Kongsberg Automotive's Shawinigan operations, enhancing its powersports business. This acquisition aligns with BRP's electrification strategy and innovation goals, as it gains 300 skilled employees specializing in key components. The deal is expected to close by the end of Q3 fiscal 2023, subject to customary conditions. The acquisition will help BRP address supply chain challenges and optimize productivity, strengthening its position in the market.
BRP Inc. (TSX:DOO) announces the launch of its electric motorcycle lineup, featuring the Can-Am Origin and Can-Am Pulse, designed for versatile riding experiences both on and off-road. Additionally, the Sea-Doo Rise electric hydrofoil board is unveiled, aimed at democratizing hydrofoiling for all skill levels. All products will be available by mid-2024. CEO José Boisjoli emphasizes innovation and market expansion, highlighting the company's commitment to electrification and enhancing consumer experiences in the powersports sector.
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