BRP reports $154.5M Q1 profit, up from $121.0M a year ago, revenue also higher

By The Canadian Press on June 1, 2023.

VALCOURT, Que. – BRP Inc. reported a first-quarter profit of $154.5 million, up from $121.0 million in the same quarter last year, as its revenue rose 34 per cent.

BRP chief executive José Boisjoli says the company outpaced the North American powersports industry thanks to sustained consumer demand.

The Ski-Doo and Sea-Doo maker says the profit amounted to $1.92 per diluted share for the quarter ended April 30, up from $1.46 per diluted share a year earlier.

Revenue totalled $2.43 billion, up from $1.81 billion in the same quarter last year.

BRP says its normalized earnings amounted to a profit of $2.38 per diluted share, up from a normalized profit of $1.66 per diluted share a year ago.

Analysts on average had expected a normalized profit of $2.32 per share and $2.28 billion in revenue, based on estimates compiled by financial markets data firm Refinitiv.

This report by The Canadian Press was first published June 1, 2023.

Companies in this story: (TSX:DOO)

9
-8

Comments are closed.