02:03:25 EDT Tue 30 Apr 2024
Enter Symbol
or Name
USA
CA



BRP Inc
Symbol DOO
Shares Issued 33,487,275
Close 2023-12-27 C$ 95.64
Market Cap C$ 3,202,722,981
Recent Sedar Documents

Globe says BRP sees its off-road-yahoo market dry up

2023-12-27 07:00 ET - In the News

The Globe and Mail reports in its Saturday edition that back when interest rates were low and fogging a mirror was the only requirement for obtaining a loan, people had plenty of money to spend on superfluous big-ticket items. The Globe's John Heinzl says that BRP could get you three-wheeled motorcycles, all-terrain vehicles, a Ski-Doo and a Sea-Doo. Yes, those were the good old days for BRP. However, with interest rates and inflation surging and consumers pulling back in 2023, selling noisy powersports vehicles suddenly became a lot more challenging for Quebec-based BRP. The third quarter was especially tough, as BRP's revenue skidded 8.9 per cent and earnings fell by more than half, with sales of Sea-Doos, three-wheeled motorcycles and pontoon boats all down from a year earlier. The "long-awaited powersports downturn is finally here," said analyst Cameron Doerksen of National Bank Financial. While that is bad news for BRP shareholders, it is great news for people who want to enjoy the outdoors without listening to the revs of BRP's motorized machines and their sometimes smashed drivers.

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