April 22nd, 2024

BRP reports Q4 profit and revenue down from year ago, raises quarterly dividend

By The Canadian Press on March 28, 2024.

VALCOURT, Que. – BRP Inc. raised its dividend as it reported its fourth-quarter profit and revenue fell compared with a year earlier and said its results for its 2025 financial year are expected to be down compared with the year it just completed.

The Ski-Doo and Sea-Doo maker says it will now pay a quarterly dividend of 21 cents per share, up from 18 cents per share.

BRP says it earned $188.2 million or $2.46 per diluted share for the quarter ended Jan. 31, down from $365.1 million or $4.54 per diluted share a year earlier.

Revenue for the quarter totalled $2.69 billion, down from $3.08 billion.

On an normalized basis, BRP says it earned $2.46 per diluted share in its latest quarter compared with a normalized profit of $3.85 per diluted share a year earlier.

In its outlook for its 2025 financial year, BRP says it expects revenue in a range of $9.1 billion to $9.5 billion, down from $10.37 billion it recorded for its 2024 financial year. Normalized diluted earnings per share for 2025 are expected in a range of $7.25 to $8.25, down from $11.11 in 2024.

This report by The Canadian Press was first published March 28, 2024.

Companies in this story: (TSX:DOO)

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