BRP Inc. Reports Strong Q2 Results

BRP Inc. announced impressive financial results for the second quarter, driven by robust demand for powersports vehicles in North America.

Rise in Profits

Net income for the period ended July 31 totaled 338.7 million Canadian dollars ($248.4 million), or C$4.26 a share, a significant increase from C$237.7 million, or C$2.94 a share, in the same period last year.

After excluding exceptional costs and one-off items, adjusted earnings reached C$3.21 a share, surpassing analysts’ expectations of C$2.97 a share, according to FactSet.

Revenue Growth

BRP reported a revenue increase of 14%, reaching C$2.78 billion from C$2.44 billion. This exceeded analysts’ projections of C$2.67 billion.

The company attributes this growth primarily to higher volume and improved pricing for its side-by-side vehicles, all-terrain vehicles, snowmobiles, and Sea-Doo pontoons. Additionally, stronger deliveries, supply chain enhancements, and the inflationary environment also contributed to the positive results.

Powersports Segment Shines

Chief Executive Jose Boisjoli highlighted the outstanding performance of BRP’s Powersports segment. Retail growth in this area reached 41%, with an increase in market share across multiple product categories.

BRP’s impressive second-quarter results demonstrate the company’s strength and success in meeting consumer demand for powersports vehicles.