19:22:56 EDT Mon 20 May 2024
Enter Symbol
or Name
USA
CA



BRP Inc
Symbol DOO
Shares Issued 34,416,941
Close 2023-09-11 C$ 100.01
Market Cap C$ 3,442,038,269
Recent Sedar Documents

Post says BRP boss confident of weathering pullback

2023-09-12 09:43 ET - In the News

The Financial Post reports in its Tuesday edition that shares of BRP dropped 1.5 per cent on Thursday, the same day it posted record second-quarter revenue of $2.8-billion. The Post's Marisa Coulton writes that the products the company sells are arguably non-essential: powersport vehicles such as ATVs, side-by-sides, motorcycles, snowmobiles and watercraft. "We are reducing our CY24 revenue estimates by seven per cent, taking a more conservative approach by reflecting potential demand softness next year," Stifel analysts Martin Landry and Mathieu Deneault Gauthier said in a note the same day BRP's earnings were released. The analysts said they have already seen a slowdown in the purchase of marine and recreational vehicles, so it would not come as a surprise if the powersport vehicle industry experiences a similar softness. BRP chief executive officer José Boisjoli is not worried. BRP's customers tend to be higher-income earners that are less affected by inflation, he said on a call with investors on Thursday. This consumer is receptive to BRP's luxury products such as the Can-am Maverick R, its most expensive off-road vehicle ever, starting at $43,999, and premium features such as a touchscreen colour display.

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