03:59:11 EDT Tue 21 May 2024
Enter Symbol
or Name
USA
CA



BRP Inc
Symbol DOO
Shares Issued 33,487,275
Close 2023-12-01 C$ 85.36
Market Cap C$ 2,858,473,794
Recent Sedar Documents

Post says BRP warns demand for power toys softens

2023-12-01 06:22 ET - In the News

The Financial Post reports in its Friday edition that demand for off-road vehicles continued to soften in November, BRP chief executive officer Jose Boisjoli told investors Thursday. The Post's Marisa Coulton writes that disappointing earnings from powersport vehicle manufacturer BRP in its latest quarter could be a sign of things to come for other companies that rely on the discretionary spending of consumers. Third-quarter revenue was $2.47-billion, down $241.5-million or 8.9 per cent from the same period last year, partly due to slowing deliveries. The company also cut its full year guidance for the current fiscal year. "Since October, we have started to see incremental signs that the macroeconomic and geopolitical environment is affecting the industry," Mr. Boisjoli said on a call. Demand for off-road vehicles began to soften in all regions in October, and the trend has continued into November, Mr. Boisjoli said. Off-road and marine products fared the worst, chief financial officer Sebastien Martel added. Amid an inflationary environment, Canadians are forgoing "wants" such as jet skis and snowmobiles, in favour of "needs." RBC Economics reports that spending on physical merchandise has slowed noticeably this fall.

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